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Convenience Store Insurance

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Insurance for convenience stores

Convenience store insurance NZ

Convenience store insurance isn't just one type of insurance. It's a package that combines different insurance types tailored to cover the unique risks of operating a convenience store.

Why is convenience store insurance important? 

magine your store suffers from an unexpected fire or theft. Without the right insurance, you could face major financial losses and might even need to close your business. Convenience store insurance offers protection against these unforeseen events, ensuring your business can recover and continue serving the community.

In New Zealand, the average cost of convenience store insurance typically ranges between $150 – $300 per month. 

It’s crucial to have convenience store coverage if your business:

  • Sells perishable goods
  • Operates late hours
  • Offers lottery or gambling services
  • Is located in a high-risk area

What insurance covers are typically included in convenience store insurance? 

Public Liability

This policy covers common convenience store risks including bodily injuries, customer property damage, and advertising injuries. It’s required for most commercial leases.

Best For
  • Business Accident Coverage
  • Third-party Damages
  • Legal Cost Protection

Statutory Liability

This cover is a type of protection that helps convenience shops cover costs if they accidentally break certain laws or regulations.

Best For
  • Unintentional breaches protection
  • Legal costs
  • Fines and penalties

Stock Insurance

Stock insurance in NZ is a type of coverage that helps protect convenience stores from the loss or damage to the items they sell.

Best For
  • Mishaps 
  • Natural Disasters
  • Fires

Business Contents Insurance

Business contents insurance in NZ is for protecting all the important stuff inside a convenience shop such as the fit out. If there’s a problem or accident, the insurance can help with the expenses.

Best For
  • Accidents 
  • Floods
  • Fires

Business Vehicle Insurance

Protects vehicles used for work purposes. It covers accidents, damages, and injuries related to the vehicle while it’s being used for business and personal activities.

Best For
  • Repair costs
  • Third party damages
  • Injuries 

Cyber Insurance

Insurance that helps protect convenience shop businesses from financial losses caused by cyber-related incidents, like data breaches and computer attacks.

Best For
  • Ransomware attacks
  • Phishing scams 
  • Cyber extortion 

How much does convenience shop business insurance cost?

Convenience store insurance premiums are calculated on several different factors including:

  • Types of cover
  • Turnover
  • Location 
  • Claims History 

Convenience store insurance in NZ typically costs between $100 to $200 per month

Who needs convenience shop insurance?

If you own or operate a convenience store in New Zealand, then this insurance is for you. Whether your store is small, large, in a busy city centre, or a quiet town, you’re exposed to potential risks daily. This insurance ensures you’re protected against these risks, providing peace of mind for you and your customers.

Absolutely! Every store has its unique needs. When working with an insurance broker like Gerrards, you can tailor your policy to cover what’s most important for your business.

If you own several stores, you can often get them all covered under a single policy. This normally results in a great saving.  

How do I get a convenience store insurance quote? 

We understand the unique needs of convenience stores in New Zealand. Leveraging our extensive industry knowledge and partnerships, we provide comprehensive convenience store insurance quotes from the top insurers in the country. Entrust us with your requirements, and we’ll ensure you receive the most competitive and tailored coverage options available.

To obtain a convenience store insurance quote we may require you to provide some fundamental details about your business, such as:

  • The name of your business
  • The total number of employees
  • Predicted annual income
  • Years of experience in the industry

How do I get proof of convenience store insurance?

You can usually get proof of convenience store insurance same day when you purchase insurance through Gerrards.

Acquiring a convenience store insurance certificate from traditional insurance brokers may require a few weeks, a delay that could create problems for policyholders who need instant insurance proof for an imminent contract or project. We can typically provide a convenience store insurance certificate within 48 hours. 

To obtain insurance coverage promptly, contact one of our convenience store insurance brokers. 

What does convenience store insurance not cover?

Natural wear and tear

Over time, equipment and parts of the store will deteriorate. Insurance does not cover these natural aging processes. For instance, if your store’s flooring becomes worn out after years of foot traffic, the cost of replacing or repairing it would usually come out of pocket.

Intentional damage

Insurance is there to protect you from unforeseen mishaps, not planned ones. If you or one of your employees intentionally damages the store or any equipment inside, those damages won’t be covered.

Illegal activities

Insurance policies strictly exclude coverages for damages or losses that arise due to illegal activities. If, for instance, illegal gambling takes place within your store and you face legal ramifications, the insurance will not cover any related costs.

Other common questions about convenience store insurance

Typically, standard policies provide coverage for certain natural disasters like storms. However, some events, like floods or earthquakes, might require additional coverage. It’s always a good idea to consult your policy details or speak with your broker.

Most convenience store insurance packages come with public liability insurance, which covers legal claims made by customers due to injuries or damages suffered on your premises.

Equipment breakdown is often an additional coverage option. It’s designed to protect against unexpected malfunctions or failures of equipment, including refrigeration units.

If a product sold in your store causes harm or injury to a customer, product liability insurance (often part of standard convenience store insurance packages) can cover the associated costs. However, it’s always crucial to understand the specifics of your policy.

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