Retail and Wholesale.
Retailers and wholesalers with retail operations face an evolving risk landscape.
Let our experts create a custom tailored insurance package that can keep up with those risks.
What is insurance for Retailers and Wholesalers?
As a retail or wholesale business owner, you have a lot on your plate. Not only do you have to worry about sourcing and keeping inventory, keeping your customers happy, but you also have to be concerned about the potential risks associated with selling merchandise. From liability issues to property damage, there are many ways that things can go wrong. That's why it's so important to have a retail insurance policy in place.
Our Retail and Wholesale Insurance packages are specifically designed to protect retail business owners against the risks associated with producing and selling merchandise, shopping in-store and shopping online.
Why choose Summit?
We help Canadian Business Owners craft the perfect insurance policy for their business.
Our team takes pride in our relentless responsiveness. When you need us, we're here.
We compare rates across leading insurance companies to ensure you get the best price on your premium.
We craft the perfect insurance policy for your business so you can rest easy knowing you're covered.
Your dedicated account manager is there for you as your business grows ensuring your insurance policy grows with you
The right insurance plan for every business.
Here are a few of the industries we serve.
Don't see yours? We serve all kinds of Canadian businesses. Chat with us.
Retail & Wholesale Insurance FAQs
Business Insurance can be complicated. We're here to help.
Our Retail Insurance policy packages are specifically designed to protect retail owners against risks associated with producing and selling merchandise, shopping in-store and shopping online.
A comprehensive liability policy package is helpful for any retailer or business that sells, develops or manufactures products.
Some specific types of retail businesses we cover are:
Retailers
Wholesalers
E-commerce
Amazon Sellers
Manufacturers
Cannabis Retailers
Retail & Wholesale Insurance describes several insurance coverages that when packaged together provide comprehensive coverage for your business.
Typically, Retail & Wholesale Insurance will include the following coverages:
Commercial General Liability Insurance (CGL): Also called “slip-and-fall insurance”, CGL protects you against the day-to-day risks that can happen during an in-person shopping experience. It can protect your business against claims of third-party bodily injury or property damage that occur at your retail location. CGL will typically cover legal expenses and medical fees, regardless of the lawsuit’s outcome.
Product Liability Insurance: Product Liability coverage is important coverage for retailers. It provides protection against claims alleging third-party property damage or bodily injury caused by a product you manufacture, distribute, or sell. Damages covered by product liability are usually the result of a defect in the design, manufacturing or marketing, such as an incorrect label or a lack of safety warnings.
Cyber Liability Insurance: Given the rise in e-commerce, Cyber Liability Insurance is another important coverage for retailers. Even if you don’t sell products online, you likely have a POS system or a loyalty program where customer data is stored online (e.g., addresses and financial information). Cyber Insurance covers costs associated with electronic incidents, such as a cyber hack involving your technology systems and data.
Commercial Property Insurance: Commercial Property Insurance protects your retail location and the contents (including stock and inventory) from insured risks that occur beyond your control, such as a fire, theft, or flood. Commercial Property Insurance often includes business interruption coverage (also called Business Income Coverage). This coverage provides reimbursement for net income that’s lost following an insured event. Please note; business interruption coverage does not cover income lost due to a pandemic, infectious disease, or government-mandated closure.
Retail & wholesale insurance should never be sold solely on price. You are protecting your most important asset. Our mission is to find you the perfect coverage but also find the best priced policy with that coverage.
The exact cost for your insurance policy varies according to factors such as:
Years of experience
Operation size and location
Annual and projected gross revenue
Number of employees
Claim history