What is Shop Insurance? The Basics Explained


If you work in the retail sector, then the loss of stock due to theft or natural disaster could be crippling for your overheads. Similarly, damage to your building could mean it is unsafe for staff and customers which will result in a loss of earnings, whereas if your stock is damaged in transit you may lack product on your shelves.

These are just a few reasons why you should invest in shop insurance.

What Will Shop Insurance Cover?

The beauty of requesting quotes through Business Compare is that we work with a number of well-known insurers and custom build an insurance package that works for your needs. Our policies can cover any of the following:

  • Public, products and employer liability
  • Stock and contents, as well as goods in transit
  • Buildings cover
  • Money cover
  • Legal expenses

This cover can be utilised in a number of situations such as:

1. A Staff Member Trips and Falls

If your stockroom or office is very cluttered, there will likely be many tripping hazards. Should an employee catch themselves on this and take a tumble, they could seriously hurt themselves and decide to sue you.

Including employer liability cover within your insurance policy will ensure your organisation is protected against the cost of any compensation claims for injury or illness sustained as a result of working for you.

2. Your Supplier Goes Out of Business

As a shop owner, we know you're reliant on your suppliers providing quality stock on request. Therefore, if your main wholesaler went bust, this could have a huge influence on both your stock levels and profitability. After all, how can you make money if you have nothing to sell?

Business interruption cover will protect your business against any damage from the loss of income incurred by limited or paused trading whilst you find a new supplier. Therefore, getting back on your feet and trading as normal again is made as easy as possible.

3. A Customer is Injured by One of Your Products

Whether an electronic device overheats, a glass object cracks and smashes, or a plastic product is not as sturdy as suggested, if your business name is on a product you will be liable for any injury it may cause.

Product liability cover as part of shop insurance will help you to cover the costs of any compensation you are ordered to pay.

Compare Shop Insurance to Keeps Costs Down

There are many components of a shop insurance policy, but that doesn't mean it has to cost a small fortune. Compare shop insurance with us and we'll source quotes from a huge range of insurers and utilise our wealth of knowledge and experience to tailor a policy that suits your unique business needs.

Find out more about shop and retail insurance by giving us a call on 0333 202 6240 today.

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