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Key Membership Benefits

Business Owners Insurance

Without proper insurance, businesses leave themselves wide open to any number of risks. Fire, theft of equipment or merchandise, or the injury of a customer on a business’ premises could have devastating consequences. Fortunately, a Business Owners Insurance policy packages a number of coverages generally needed by small and medium-sized businesses for much less than it would cost to purchase each type of coverage individually. A Business Owners Insurance policy typically includes:

  • Property insurance, which covers buildings, equipment and inventory.
  • Business income insurance, which covers losses should you need to suspend business operations for a period of time.
  • Casualty or liability protection, which covers the business in the event an employee, or the business’ product or a service, causes damage to another person or their property.
  • Crime insurance (both monies lost and property damage) due to robbery, burglary and employee theft or embezzlement.
  • Liability insurance for customer/guest accidents on your property.
  • Personal and advertising coverage for accusations of copyright infringement, slander or libel.
  • Rented or borrowed vehicle coverage.

Other insurances may be necessary depending on the type of business you own. These can be added as endorsements to your policy for additional cost. Be sure to discuss your business’ particular needs with the Retail Council’s licensed insurance representatives.

Also, be aware Business Owners Insurance does not cover vehicles owned by the business; you’ll need to purchase an auto policy. New York State law requires businesses with employees to provide workers’ compensation insurance (for a job-related sickness or injury) and statutory disability insurance (for non-work related sickness or injury). Learn more about the Council’s Workers’ Compensation Safety Group and Statutory Disability Insurance Programs here.

If you would like more information, please call the Retail Council at (800) 442-3589 and ask to speak with Virginia or Ken in our Insurance Services Department. Alternatively, send Ken an email at

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