Workers’ Compensation for Retail Businesses

You can save up to 25% in discounts.*

How does Workers’ Compensation insurance protect retail stores?

Workers’ compensation insurance protects your retail business when a workplace injury occurs. This type of insurance covers injury-related expenses so you don’t suffer significant financial losses after an accident.

Even though retail work doesn’t generally have a high risk for injuries, accidents can still happen. For example, an employee at an electronics store or hardware store could be injured if a product display falls over. Workers at candle stores, bookstores or clothing stores could fall from a step ladder when restocking upper shelves.

Depending on where your business is located and whether you have employees, you may be required by law to carry retail workers’ compensation insurance.

business insurance for retail

What does Workers’ Comp cover for retail businesses?

If an employee gets hurt while working, this insurance helps cover their expenses. Workers’ compensation can help pay for medical bills and even reimburse the employee for income they’ll miss while they’re recovering.

In the case of a serious accident, workers’ comp insurance for retail stores also provides compensation for permanent disability or death.

Workers’ comp can help pay for:

  • Medical expenses
  • Lost wages
  • Retraining
  • Permanent injury
  • Survivor benefits
  • Employers’ liability

Learn more about what workers’ compensation insurance covers.

Why do retail businesses need Workers’ Compensation insurance?

In retail stores, employees often spend a lot of time on their feet performing physical tasks. That creates a risk for potential injuries on the job. Accidents can happen even if you take safety precautions to protect your workers.

If an employee gets hurt, you could be held liable. Workers’ compensation insurance helps to protect your business by covering injury-related expenses, like your employee’s medical bills and lost wages. At the same time, it gives workers peace of mind that if they get injured at work, they won’t have to worry about their personal finances.

You might be required to carry workers’ comp insurance if you have employees. If you fail to comply with state workers’ compensation laws, you could be penalized with fines or even criminal charges.

What are some common risks faced by retail stores?

Retail insurance offers you protection from a wide range of unexpected events and accidents. The following are some of the common risks that retail businesses face:

Dangerous accidents

While restocking shelves, your employee falls and fractures their wrist. Workers’ compensation insurance will help cover their medical bills, including emergency room visits, treatment, and follow-up care.

Lost wages

An employee suffers a back injury while preparing shipments for your online retail store. Although they’ll need several weeks off to recover, your workers’ comp insurance will reimburse them for lost income in accordance with policy limits.

Permanent injury or death

In the rare instance that a serious injury occurs, some of your expenses may be covered by your workers’ compensation insurance. Retail businesses can rely on this policy to provide long-term disability benefits, burial expenses or survivor benefits.

Employer liability

Your business could be held liable if an employee gets hurt at work. If they file a lawsuit against you for negligence, workers’ comp insurance will help cover your legal costs.

To make sure you’re covered in case you’re injured on the job, include business owner’s coverage in your workers’ comp policy.

How much does Workers’ Comp cost for retail stores?

NEXT makes it easy to get affordable workers’ compensation insurance that’s customized to the specific needs of your retail business.

At NEXT, 54% of our customers pay less than $150 per month for workers’ comp. Retail businesses only pay about $67 per month for this type of coverage due to the fact that their employees typically have a low risk of injury at work.**

Some of the key factors which affect the cost of workers’ comp insurance for retail stores include:

  • The type of retail business you have
  • The state where you work
  • How many employees you have
  • How long you’ve been in business
  • Your claims history
  • How high you set your limit

NEXT offers tailored business insurance for retail businesses

NEXT makes it easy to get affordable retail insurance that’s customized to the specific needs of your retail business. All of our services are available online, and you can get everything set up in just minutes.

Simply use your computer or mobile device to apply on our website. You’ll be able to compare insurance options, purchase coverage and download your certificate of insurance right away.

Get an instant quote online today.

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Let’s find the coverage you need for your business
Business insurance is divided into different policies. We offer seven types so it's easy to design the coverage that fits your business.
General Liability insurance
General Liability
Protect yourself from accidents that cause physical injury or damaged property.
Professional Liability or Error and Omissions Insurance
Professional Liability/E&O
Shield yourself from lawsuits that claim your work errors caused financial losses.
Workers' Compensation Insurance
Workers’ Compensation
Cover medical bills and lost wages if your employees have an accident at work.
Commercial Auto Insurance
Commercial Auto
Stay on the road with coverage for dents, tows and damage to someone else’s vehicle.
Tools & Equipment Insurance
Tools & Equipment
Upgrade your general liability coverage to protect any gear that’s stolen, damaged or lost.
Commercial Property Insurance
Commercial Property
Keep your building, inventory and equipment protected from fire or water damage.
Business Owner’s Policy Insurance
Business Owner’s Policy
Combine general liability and commercial property into one policy to protect your business.
* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.
**The cost data presented here are based on minimum price, which is based on workers’ compensation insurance’s lowest monthly price for retail businesses operating in Texas. These data should not be considered a substitute for obtaining a quote specific to your business. These data were updated in July 2022.
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Issuance of coverage is subject to underwriting. Not available in all states. Please see the policy for full terms, conditions and exclusions. Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Refer to Legal Notices section for additional information.

Any starting prices or premiums represented before an actual customer quote are not guaranteed and are representations of existing premiums of active policies as of December 6, 2023. To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.