Your thrift store gives secondhand treasures a new life – from vintage furniture to gently worn clothing. But your awesome business also faces unique risks. One surprise expense (a fire that wipes out inventory or an employee who wrecks his back lifting furniture) can put your whole business at risk. That’s why thrift store owners across Texas look for affordable insurance that meets state requirements and protects their property, team and income. This guide breaks down:
A Business Owner’s Policy for thrift stores saves you money by bundling general liability, property insurance and optional business interruption coverage.
General liability insurance for thrift stores covers injuries and damages caused by your business, as well as advertising-related claims.
Here are five essential coverages every thrift store owner should consider to stay protected and profitable:
A business owner’s policy (BOP) is a smart starting point. It bundles key coverages into one affordable package – ideal for new or growing establishments. Your BOP typically includes:
GENERAL LIABILITY for thrift store owners covers legal and medical costs if a customer or other visitor is injured or their property is damaged in your store. It also protects you from advertising-related claims. Examples:
A display rack tips over and damages a customer’s personal belongings
A competitor claims you stole their logo or copyrighted slogan
PROPERTY INSURANCE for thrift store owners helps repair or replace your space and equipment if disaster strikes – like fire, theft, or vandalism. Examples:
BUSINESS INTERRUPTION INSURANCE replaces lost income if you need to temporarily close your store due to covered property damage.
Unlike most states, Texas does not require private employers to carry workers’ comp. But we strongly recommend it if you have employees! This valuable coverage pays for medical care and lost wages if staff are injured on the job and helps protect you from lawsuits.. Examples:
If your thrift store uses vehicles for donation pickups, deliveries or other business purposes, Texas law requires commercial auto insurance.
Because your business regularly takes cash, it's vulnerable to employee theft. Crime insurance for thrift store owners helps reimburse you if someone on your staff takes:
Think of this as insurance for your insurance! A commercial umbrella insurance policy provides extra protection if a major incident causes key policies such as your general liability to reach their limits.
Your amazing establishment deserves protection that keeps up with your business. Mylo has been innovating insurance for 10 years. Because we don't sell our own insurance, we can give you an objective recommendation and find you the best value in Texas– at no cost to you.
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