Shoe Repair Shop Insurance

How to Insure Your Shoe Repair Shop

(You're one step closer to protecting your business)

Shoe Repair Shop

As a shoe repair shop owner, you know the difficulties and risks that come with running a small business. Customers trust you to repair their high-end footwear and take great care of their possessions. 

What would happen if a catastrophe wiped out your business and everything inside your building? Could you recover? It’s important to have a strong risk management strategy in place to protect you from an unexpected calamity. 

An independent insurance agent can assess your exposures and determine the best combination of policies to protect your business. With the proper coverage, you don’t have to worry about a mishap that could threaten your ability to survive financially. 

Why Do You Need Business Insurance? 

Even if you are taking every precaution possible to prevent accidents, not all misfortunes are preventable. A number of events can threaten the financial health of your shoe repair shop:

  • Natural disasters
  • Fire
  • Employee and customer injuries
  • Stolen equipment
  • Vandalism
  • Storms

A strong risk management strategy is crucial to protecting the business you’ve worked so hard to build. 


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What Kind of Business Insurance Do You Need for Your Shoe Repair Shop? 

No two businesses are alike. Insurance is not a one-size-fits-all solution, and careful consideration should be taken to ensure you’re thoroughly protected. 

The following are policies you will want to take into account:

Commercial Property Insurance

Commercial property insurance: This is the minimum level of protection every business needs. A commercial property policy protects both your property and that of your customers as well. Your property insurance covers you from damage as a result of natural disasters, theft, vandalism, fires, and other damages. 

Incidents like floods or earthquakes aren’t generally covered in a property policy, so speak to an independent insurance agent if you are vulnerable to these events. 

Commercial General Liability 

Business liability insurance protects your business from losses where you are found liable. If a customer is injured in your shoe repair shop and needs some level of medical care, your liability policy would kick in. 

A commercial general liability policy includes: 

Bodily Injury and Property Damage Liability 

This covers damages for physical and psychological harm to individuals resulting from your business operations.

Personal and Advertising Injury  

In case you are accused of libel, slander, copyright infringement, or defamatory remarks, your liability policy covers you if legal action is taken.

Medical Payments 

This pays for the cost of minor medical treatment if an injury results from your business activities. Medical payments can be made regardless of fault.

Business Owners Policy

A business owners policy (BOP) is an affordable way to combine coverages into a single, customized policy. Typically, property and liability insurance are combined in a BOP, along with any other types of insurance you might need. 

An independent insurance agent can help you choose the proper coverages specific to your business. 

Are There Additional Coverages You Need for Your Shoe Repair Shop? 

Other than basic commercial property and liability insurance, there are some additional policies you may find valuable. 

Workers’ Compensation 

If you have employees working for you, workers’ comp insurance should be considered. If one of your employees is injured on the job, your workers’ comp policy would cover the cost of medical treatment and lost wages.  

Bailee's Coverage

Since your shoe repair shop regularly takes possession of customers' goods, it would be wise to invest in bailee's insurance. Bailee's coverage protects the bailor's (customer's) goods in the event of a disaster. 

Business Interruption Insurance

If you were to face a catastrophic loss that eliminated your income for a period of time, would you be able to survive?


According to FEMA, close to 40% of businesses never reopen their doors following a disaster.

Business interruption insurance can protect you from a situation that can threaten to permanently destroy your shoe repair shop by covering lost income while your business is out of service due to a loss that damages your property.

How Much Will Business Insurance Cost for Your Shoe Repair Shop? 

 Cost-effective insurance is a very important part of a small business’s overall financial stability. 


According to a survey of small business owners by NFIB, 12% said the cost/availability of insurance was their single most important issue.

In order to determine the cost of your insurance premiums, insurers consider factors like the size of your business, number of employees, and other various information. 

An independent insurance agent can counsel you on how to decrease price of insurance and help you find affordable coverage that fits your needs.

The Benefits of an Independent Insurance Agent 

Independent insurance agents have access to multiple insurance companies, ultimately finding you the best coverage, accessibility, and competitive pricing while working entirely for you. As your needs change, they'll be there to help you adjust your coverage, up or down, to make sure you're properly protected without overpaying. 

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