Shop Insurance

 Shops and retail premises have a range of insurance requirements that although differ in detail from business to business can be met by a package of standard insurance products bundled together, that ensures both competitive premiums and a seamless insurance solution.
These packages are designed to meet the needs of shops, cafes and restaurants. Certain insurers also offer these policies to hairdressing and beauty salons and the like, risks that require similar covers to most shops but also have a requirement for "treatment risks" under the public liability section.		 shop insurance

The core cover tends to be similar for most policies, with optional extensions for subsidence, accidental damage and terrorism cover. Some insurers issue policies with fixed inner limits in respect of sums insured, usually far greater than would be required, others opt for a specified sum insured. Some policies include sections such as goods in transit where others provide this cover a part of their standard package - for the client it is important to compare the covers provided as well as the premium charged as the individual benefits may vary within the same sections of the policy.

Within a shop insurance package you can expect to find the following basic covers.

  • Property Damage - Fire, Special Perils and Theft Cover - in respect of buildings and contents.
  • Business Interruption - protection against loss of income as a result of an insured peril
  • Loss Of Money - for cash carryings, cash in safe and cash at the premises or home of the policyholder
  • Glass Breakage - for damage to fixed glass and sanitary ware
  • Public Liability Insurance - Third Party Insurance including Products Liability Insurance
  • Employers Liability Insurance - compulsory insurance for those with employees
  • Goods in Transit - Protection for stock and goods in the course of transit
  • Legal Expenses - in various forms always check whether this is insurance or simply advice

Most shop insurance policies are annual contracts based on 12 months and are payable in full on inception or by monthly direct debits.