Insurance for Pawn Shops

Pawn shop owners face many risks due to the unique nature of their business. Ensure they have proper coverage to continue doing business without loss of income.

Pawn shops are in the business of buying and selling, and often have a significant amount of cash on hand. Because of the risks involved in the pawn business, it is imperative owners have insurance coverage designed to meet their specific needs.  Risks for pawn shops include theft, property damage, customer injuries, as well as employee claims. Discuss insurance options with pawn shop owners to keep them open for business.  

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Pawn Shop Coverage

Discuss with clients in the pawn shop business the following coverage to protect their assets.

  • General Liability: Covers property damage and bodily injury from third party claimants (customers).
  • Property: Covers the shop from damage occurring from natural causes such as fire or earthquake, or customer who cause damage.
  • Business Owners Policy (BOP), or Commercial Package: Covers general liability, including claims of bodily injury from accidents filed by a third party, and covers property within the shop.
  • Worker's Compensation: Protects shop owners should their employees become sick or injured in an accident on the job.