Thrift Store Insurance
Business Insurance for Nonprofit Thrift Stores, Consignment Shops, and Second Hand Stores

While thrift stores have always been an important part of American commerce, the recession of 2008 brought them to new prominence – even hipness. And while this popularity is good news for secondhand stores and consignment shops financially, it also means that these hubs of bargain shopping face more risk exposure than ever.

Fortunately, that risk doesn’t need to be a source of worry for thrift shop owners. Investing in liability insurance is an excellent way to reduce the overall risks threatening the health of your store. In the event of a lawsuit against you, liability insurance can cover the legal costs (including attorneys’ fees, court costs, and any settlements or judgments). That means your defense funds don’t have to come out of your till.

For in-depth explanations of how various types of insurance can protect thrift stores, consignment shops, and other secondhand stores, read about some of our most popular coverages below.

Directors and Officers Insurance for Thrift Shops, Consignment Stores, and Other Charity Second Hand Stores

Nonprofit organizations often have to recruit high-profile community members to their board. Directors and Officers Insurance is an important recruitment tool because many future board members will want to know that your organization has this insurance to cover their liabilities.

But what is D&O Insurance? This policy pays for lawsuits when your board members are accused of…

  • Employee harassment.
  • Wrongful termination.
  • Mismanagement of funds.
  • Negligence in board-related duties.

If your board decides to expand the organization and open a second retail store, they could be liable for their management of the organization’s financial resources. They could be sued if the investment doesn’t work out and the organization loses money. When this happens, D&O Insurance can protect them from the lawsuit.

Insureon: Custom-Built Insurance for Thrift Stores

Complete our online insurance application, and work with our nonprofit insurance experts. Your agent will be trained in nonprofit insurance for thrift stores and consignment shops.

When you work with insureon, you’ll be working with specialists in your industry. Let our agents custom build a nonprofit insurance plan for you. Contact us for your a free quote.

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Grab-n-Go Information

Nonprofit Risks eBook
Certainty in Uncertain Times - A Nonprofit’s Guide to Risk Management
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Sample certificates
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