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 and coverages across leading insurance companies to ensure you get the best value 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.
Retail and wholesale insurance is a type of insurance specifically designed to meet the needs of retail and wholesale businesses.
Retail businesses sell products or services directly to consumers, while wholesale businesses sell products or services to other businesses or organizations. Both types of businesses face a variety of risks that can impact their operations and financial performance, and retail and wholesale insurance can provide protection against these risks.
Retail and wholesale insurance is designed for businesses that operate in the retail and wholesale industries. This includes businesses that sell products or goods directly to consumers, as well as businesses that sell products or goods to other businesses.
Retail businesses such as clothing stores, grocery stores, and electronics stores typically need retail insurance to protect against risks associated with their operations. This can include risks related to customer injuries, property damage, and theft.
Wholesale businesses such as wholesalers, distributors, and manufacturers typically need wholesale insurance to protect against risks associated with their operations. This can include risks related to product liability, transportation, and property damage.
If you want to work with a commercial insurance brokerage that puts people first and values transparency, sustainability, ownership, and impact, then Summit is the right choice for your business insurance needs.
At Summit, we craft innovative insurance solutions that are custom tailored to your business, giving you the confidence you need to succeed. Our team is dedicated to building trust and creating value through open and honest communication. We are in it for the long haul and strive to make a positive impact in everything we do.
So if you want a business insurance partner that shares your values and is committed to helping you succeed, consider working with Summit.
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. This can include medical expenses, legal fees, and other damages incurred as a result of the accident.
Product Liability Insurance: Retailers can be held liable for injuries or damages caused by products that they sell or distribute, even if the retailer did not manufacture the product, making Product Liability Insurance an important coverage. It provides protection against claims alleging third-party property damage or bodily injury caused by a product you manufacture, distribute, or sell. Product liability claims often stem from issues with design, construction or promotion of a product, anything from inadequate warning labels to faulty manufacturing can lead to large financial damages
.Cyber Liability Insurance: Important for retailers because as a retailer you are increasingly reliant on technology and the internet to conduct their business, which exposes them to a variety of cyber risks. Cyber attacks, data breaches, and other cyber incidents can result in significant financial losses for retailers, as well as damage to their reputation and customer trust.
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 while you get your business back up and running.
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