Running a business, especially a small-sized enterprise where you shoulder most of the responsibilities, can be extremely stressful. For shop owners and other retailers, day-to-day operations can keep you busy enough, but who has the time to hunt down the best insurance policies to protect the many different aspects of the business?
This is why retailers need a comprehensive solution; just one package policy to financially cover all possible risks.
What to look for in a retail insurance package
Ideally, you want a package that includes:
• Buildings insurance – covering repair or rebuilding costs caused by fire, extreme weather etc.
• Product liability insurance – if something you sell injures someone or causes damage to property
• Public liability insurance – protecting visitors should they injure themselves on your premises
• Employers’ liability insurance – if you have employees, a basic level of cover is legally required. Should your employee suffer illness or injury whilst at work, you are expected to provide compensation should you be found to be liable
• Trade contents insurance – covers loss or damage to stock
• Money cover – to insure against theft should you keep money on the premises
• Glass – covers glass breakage repair costs
