Retail Shop Insurance

If you are the owner of a retail shop then you’ll be more than aware of the challenges that come with running this type of business. Even with the best of staff and total care and attention, it is impossible to predict when an accident might happen. This is why it is important to protect your business with retail shop insurance.

Without adequate retail shop insurance, you have a business that is tremendously exposed to risk. For instance, were a customer to become injured whilst on your premises, subsequently make a claim, as a consequence, then your business would have to cover the cost of legal fees and compensation. Similarly, an injured member of staff could seek damages, were such an incident to occur.

Then there is the necessity to protect your business assets: your premises and your stock. Without retail shop insurance, your business is vulnerable against a whole host of unexpected incidents including accidental damage, theft, vandalism, fire and flooding.

Comprehensive retail shop insurance is an absolute necessity. In order to be fully covered, your policy will need to incorporate several separate types of insurance:

• Employer’s liability insurance – to cover any damages, legal costs and expenses, should an employee get injured.
• Public liability insurance – to cover any damages, legal costs and expenses in the event of a customer getting injured or their property getting stolen/damaged.
• Business contents insurance – to cover against the theft/damage of your business’ contents.
• Product liability insurance – to cover any damages, legal costs and expenses in the event of customer illness/death because of your products and/or services.
• Loss of income insurance – to cover any loss of income that occurs whilst waiting for an insurance payout.