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Liquor Store Insurance in Edmonton, Alberta
Owning a liquor store is not only about having products on the shelves, but also protecting your investment, employees, and customers. Therefore, at A-Kan Insurance, we offer customized liquor store business insurance to cover the risks faced by liquor stores in Edmonton, Alberta. From theft to liquor liability, our objective is to secure your business, allowing you to focus on growing it.
The Importance of Liquor Store Insurance
Having a liquor store comes with risks that exceed the average retail risks present in other retail operations. The following are some of the common issues you may encounter:
Theft & Vandalism
Because the liquor is a high-value inventory item, liquor retailers can be commonly targeted for these.
Liquor liability
If a customer causes damage or injury after consuming alcohol that they purchased from your store, then your business could be responsible.
Employee Risks
Employees handling cash, inventory, and customers create liability exposure from errors and theft leaving them in risk.
Property Damage
Like any business, damage can occur from floods, fire, or other accidents, which could lead to extensive downtime.
If you don’t have the appropriate liquor store insurance coverage, you may end up putting your entire business at risk from a single claim.
What Does Liquor Store Insurance Protect You Against?
Commercial Property Insurance
This protects your property, signs, shelving, and inventory.
General Liability Insurance
This protects you from accidents or injuries that take place on your premises.
Liquor Liability Insurance
This protects you from any claims made against you for the sale of alcohol.
Business Interruption Insurance
This pays you for lost profits as a result of you being closed for a covered event.
Crime & Theft Coverage
This protects you from burglary, shoplifting, and/or employee theft.
Commercial Auto Insurance
Insurance for any delivery vehicles or vehicles owned by the business.
How Much Does Liquor Store Insurance Cost?
The cost of liquor store insurance in Edmonton, Alberta will vary depending on:
- Where your store is located (urban vs. rural, areas of high crime, etc.)
- The size of the liquor store and the value of the inventory
- If you own or lease the building
- Past claims history
- Any additional coverage (delivery vehicles, increased liability, etc.)
On average, liquor store insurance in Edmonton, Alberta would range from $2,000 to $6,000 per year, but this will depend on coverage limits and any risk factors. Working with a broker like A-Kan Insurance allows you to get multiple quotes and find the best rates.
Why A-Kan Insurance?
We know our businesses in Edmonton & Alberta
Access to the best insurers across Canada
Tailored liquor store business insurance packages
Continued support throughout the claims process.
Get a Liquor Store Insurance Quote Today
Your business should be well-protected. Reach out to us for the right policy at the right price!
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FAQs
About Liquor Store Insurance
While not legally required everywhere, it is always advisable. Without coverage, your business could be sued if a customer harms another person after purchasing alcohol.
Yes. Many commercial business owners and liquor store owners bundle their property, liability, and auto insurance and save money.
Yes. You can include spoilage coverage for inventory when it is spoiled from power outages, or breakdown of equipment or other covered causes.
Having security systems in place, good records of your business, and using an experienced insurance broker should impact your costs.