Pawn Shop Insurance

You can save up to 25% in discounts on pawn shop business insurance.*

Choose your primary coverage to get started:

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Pawn shop insurance can help protect you from:

Theft

Your business is burglarized overnight and inventory was stolen. You need to replace it — fast.

Product liability

A customer claims a sweater you sold was treated with a chemical that caused an allergic reaction.

Advertising injury

A competitor sues you claiming that you copied the "look and feel" of their product listing.

Cyber

Criminals hack your store's site, and now your customers' payment information is compromised.

Pawn shop insurance designed to protect your business

NEXT Insurance is a one-stop shop to help you get the pawn shop insurance you need to protect your business from accidents, injuries, legal fees and damaged vehicles. Our insurance packages typically include:

General liability
Commercial auto
Workers’ compensation
Commercial property

Easily find a custom pawn shop insurance package that's right for your business

NEXT specializes in small business insurance, so you can easily find a custom insurance package that's right for your pawn shop business.

General Liability

Protection for the injuries, accidents and damage you cause

General liability insurance is included in most business insurance packages, including pawn shop business, because it covers the risks that many business owners face every day. It's not typically required by law, but some clients and agencies could ask you to have a certificate of insurance before they work with you.

general liability can help you pay for:

Medical payments

Property damage

Legal fees and judgments

Commercial Auto

"For business owners who own or drive vehicles

Commercial auto insurance helps pawn shops cover injuries and damages resulting from work-related car accidents. Most states require commercial auto insurance for business-owned vehicles in order to help pay for medical expenses and property damage.

commercial auto can help you pay for:

Medical expenses

Collision repairs

Rental reimbursement

Workers' Compensation

For business owners who hire employees

Workers’ compensation insurance protects employees and pawn shop business owners from financial losses after a workplace injury or illness. It can help with reimbursing medical bills, rehabilitation costs, lost wages and other expenses.

workers compensation can help you pay for:

Medical expenses

Lost Wages

Employer liability

Commercial Property

For business owners who own or rent physical spaces

Commercial property insurance is one of the most common types of small business insurance pawn shop owners buy because of the different types of coverage it offers. It helps with replacement or repair costs if property is stolen or damaged due to a covered event, such as a burst water pipe, fire or vandalism.

commercial property can help you pay for:

Damaged equipment and inventory

Lost income

Operating expenses

You can save up to 25% in discounts on pawn shop insurance

You can pay for your insurance monthly or annually and you can cancel instantly at any time.

Basic

Lowest Price

Commercial Auto

Combined single limit

$85,000

General Liability

Per occurrence

$500,000

Workers’ Comp

Per accident

$100,000

Commercial Property

Per occurrence

$25,000

Pro

How much does pawn shop insurance cost?

Pawn shop insurance costs vary based on the risks that your business faces, such as:

The types of objects you sell
Where your business is located
Your payroll and the kinds of jobs your employees do
The number and types of vehicles you use at work

You can save up to 25% in discounts, depending on the kind of work you do. More risky professions can expect to pay more.

Pawn shop insurance requirements

Small business owners are almost always required to have insurance due to the risk of injury and property damage. You might need insurance to:

Get a business license in your state. It’s a good idea to check if you need a license in your state in order to get insurance.
Hire employees. Most states require workers’ compensation insurance if you have employees.
Drive for business purposes. Business-owned vehicles typically need commercial auto insurance.
Repair or replace commercial property you own or rent. Protect your inventory, equipment and even the building that you lease or own.

Frequently asked questions about pawn shop business insurance

Here are some of the most common questions we get about pawn shop business insurance. If you don’t find the answers you need here, our licensed, U.S.-based insurance advisors are standing by to help via online chat or phone.

Does ERGO NEXT Insurance offer general liability coverage for pawn shops?

Yes, NEXT Insurance offers general liability, commercial auto, workers' compensation and commercial property insurance coverage for pawn shops.

Does ERGO NEXT Insurance offer commercial property coverage for pawn shops?

Yes, NEXT Insurance offers commercial property insurance, general liability, commercial auto and workers' compensation insurance coverage for pawn shops.

How can I get a certificate of insurance (COI)?

Once you have a ERGO NEXT policy, you’ll have 24/7 access to proof of your insurance (also called a certificate of insurance, or COI) via web or app. Log in to your account, download your COI instantly or deliver it via email or text at no additional cost. Get unlimited certificates and add an additional insured as you need them.

What do I need to get an insurance quote online?

It takes about 10 minutes to get a business insurance quote online with ERGO NEXT. We’ll ask a few questions about your business — like what you do, your location, what type of events you sell at, how many people you employ and the vehicles you use for work. You’ll choose your options and see prices. If you like what you see, you can buy online and get a certificate of insurance (proof of insurance) on the spot.

What are some examples of types of business insurance protection for retail shops?

NEXT’s retail shop policies can help protect your business from a variety of risks and financial losses related to:

Damage to someone else’s property

The paint you sell on Amazon explodes in a customer’s bedroom, ruining the carpet and drapes. Your general liability policy could help pay for the damages.**

Accidents that hurt someone

A customer falls and breaks their arm inside your retail store. Your general liability coverage or BOP insurance could help pay for medical costs and legal fees.

Damage to your own property and inventory

Vandals tag your storefront, break a window and steal some business laptops and products. Commercial property insurance could help with replacement or repair.

Accidents involving your business vehicles

You have a fender bender on the way to a client’s office. Commercial auto insurance could help pay for the damages.

Workplace illness or injuries

Your employee falls off a step stool and twists an ankle — and now you’re down a worker for several weeks. Workers’ compensation insurance can help cover medical bills and lost wages.

More professions that are covered by NEXT

Amazon Seller, Arts and Crafts Store, Bike Shop, Bookstore, Candle Store, Candy Store, Clothing Store, Convenience Store, E-commerce, Electronics Store, Fabric Store, Florist, Furniture Store, Hardware Store, Jewelry Store, Laundromat, Luggage Store, Medical Supplies Store, Pawn Shop, Retail Store, TikTok Shop Seller, Toy Store