How much does insurance for beer, liquor, and wine stores cost?

Beer, liquor, and wine stores pay an average of $161 per month, or $1,925 per year, for a business owner’s policy.

A business owner's policy, or BOP, bundles general liability coverage with commercial property insurance to cover both third-party risks and your business property. It typically costs less than purchasing each as a standalone policy.

A BOP protects against customer injuries, vandalism, and damage to your liquor store equipment and inventory. Because of its increased coverage and affordability, it’s the policy most often recommended by Insureon’s agents.

This is the average cost of a BOP for liquor store businesses that buy from Insureon:

Insurance premium: $161 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $1,000

Small, low-risk alcohol sellers are often eligible for a business owner's policy.

Liquor store business owners may see higher costs if they choose to add endorsements to their policy. Insurance endorsements, such as business interruption insurance or equipment breakdown coverage, are often recommended to help avoid financial losses if a fire or power outage forces your business operations to cease for an extended period of time.

The cost of a business owner's policy is based on a number of factors, including high-value property, where you are located, your business income and claims history, the number of employees you have, the amount of property coverage you need, and your specialty.

Liquor stores pay an average of $48 per month, or $573 per year, for general liability insurance.

General liability insurance covers legal fees related to common third-party lawsuits from clients, including those related to customer bodily injury (such as a customer slip and fall incident), damage to a client's property, and advertising injury.

A general liability insurance policy often includes product liability insurance, which can help protect your liquor store business in the event a customer has an allergic reaction to one of the products you sell or becomes ill from a perishable item.

This is the average general liability insurance cost for beer, liquor, and wine stores that buy from Insureon:

Insurance premium: $48 per month
Policy limits: $1 million per occurrence; $2 million aggregate limit

The cost of general liability insurance depends on several factors, such as the coverage limits you choose, the size of your business, the amount of foot traffic you have, policy exclusions, and any endorsements you may add, such as an additional insured.

Learn more about how your insurance premium is calculated and how to save money on your general liability coverage.

For beer, wine, and liquor stores, workers’ compensation insurance costs an average of $76 per month, or $905 per year.

This business insurance coverage helps pay for medical expenses when an employee is injured on the job. It also provides disability benefits to help cover lost wages while they're recovering and unable to work.

To comply with your state’s requirements and avoid penalties, liquor stores need this coverage for their employees. It's also recommended for sole proprietors, as health insurance plans can deny claims for medical bills when an injury or illness is related to your job.

Most policies include employer's liability insurance, which covers the cost of lawsuits related to employee injuries. There's usually no limit to how much a workers' comp policy can pay for employee benefits, though it depends on state laws.

The cost of workers' compensation insurance depends on several factors, including the number of employees you have and the level of risk involved with their jobs.

You can save money on your workers' comp coverage by classifying your workers correctly and implementing a risk management plan to minimize employee injuries.

The average cost of liquor liability insurance, sometimes called dram shop insurance, is $28 per month, or $336 annually, for retail businesses including beer, liquor, and wine stores.

Liquor liability insurance coverage offers crucial protection for small businesses that sell alcohol. This is especially true if you sell alcoholic beverages to an intoxicated person who causes injuries or property damage.

When selling or serving alcohol at your retail business, state law often requires this policy in order to receive a liquor license.

In addition, many states have dram shop laws that hold a business liable for any damages caused by an intoxicated customer that they served, which can make this coverage all the more important to protect retail businesses against the expensive fallout from an incident.

Liquor liability insurance covers legal costs and liability claims caused by intoxicated individuals.

The average liquor liability insurance policy for retail small business owners who buy from Insureon is as follows:

Insurance premium: $28 per month
Policy limits: $1 million per occurrence; $2 million aggregate

A number of factors will influence the cost of liquor liability coverage, including the type of business you have, where your business is located, your claims history, and revenue from alcohol sales by your business.

Alcohol sellers and other retail businesses pay an average of $59 per month, or $707 annually, for commercial umbrella insurance, which is available in $1 million increments.

This policy boosts the protection of your general liability insurance, commercial auto insurance, and employer's liability insurance. When a claim exceeds the limits of the underlying policy, umbrella insurance kicks in to provide coverage.

While umbrella insurance extends coverage limits for a number of policies, it doesn't apply to professional liability insurance, also called errors and omissions (E&O) insurance. This policy covers lawsuits over professional mistakes, including undelivered services and missed deadlines. Your business can expand policy limits for these for professional liability or E&O insurance coverages with excess liability insurance.

Liquor stores may need commercial umbrella insurance if a landlord requires liability coverage in excess of $2 million.

For example, a landlord might require you to show proof of insurance for $3 million in general liability coverage before they'll sign a lease. In that case, you could carry $2 million in general liability insurance along with a $1 million umbrella policy to meet this requirement.

The cost of umbrella insurance depends on your risks and how much coverage you buy. You need to buy a certain amount of underlying coverage before you can buy umbrella insurance.

Beer, liquor, and wine stores, as well as other retailers pay an average of $171 per month for commercial auto insurance, or $2,054 annually.

Most states require this coverage for vehicles owned by a liquor store. For personal, rented, and leased vehicles used by your business, look to hired and non-owned auto insurance (HNOA) instead.

A commercial auto policy provides financial protection in the event of an accident involving your business vehicle. It can help pay for property damage, medical costs, and legal expenses.

The cost of commercial auto insurance depends on several factors, including the policy limits you choose, coverage options, the value of the vehicles, and the driving records of anyone permitted to drive.

Learn more about how to find affordable commercial auto insurance coverage.

Alcohol sellers and other retail business owners pay an average of $57 per month, or $683 annually, for cyber insurance. You might also see this policy called cyber liability insurance or cybersecurity insurance.

Cyber insurance helps retail businesses recover financially after a data breach or cyberattack. It can help pay for customer notification costs, fraud monitoring services, and other costs necessitated by state data breach laws.

The cost of cyber insurance depends on the amount of personal information handled by your retail business, such as customer credit card numbers, along with the number of employees who can access that information.