Furniture Shop Insurance

What is furniture shop insurance?

Furniture shop insurance is a tailored business insurance policy that can protect your store against damage, loss, theft, harm to employees or the public, and other unexpected events.

Rather than a single product, it is normally a bundle of covers put together around how your shop operates. Common elements include business premises insurance, public liability insurance, stock cover and employers' liability insurance. Every furniture shop owner has different needs, so the policy should reflect your stock, your staff and your premises rather than a generic template.

Who needs furniture shop insurance?

Any business selling furniture from a shop, showroom or store should consider it, because furniture shops typically have high-value stock, a team of employees and, hopefully, a high footfall of customers.

Each of those three things carries a risk: stock can be stolen or damaged, employees can be injured at work, and customers can be hurt or have their property damaged while on your premises. If you have employees, one part of the cover, employers' liability insurance, is most likely a legal requirement rather than a choice. Whether you sell sofas, beds or office furniture, the same basic exposures apply.

What does furniture shop insurance cover?

A typical furniture shop policy is built from three main areas of cover, with others added depending on your situation.

• Public liability insurance: protects you financially should a member of the public be injured, or their property damaged, as a result of your business activities.
• Stock insurance: given the relatively high stock value in a furniture shop, you may want your stock insured against theft and damage. Your contents insurance may include stock cover, so discuss this with the insurer.
• Employers' liability insurance: covers your business against court costs and compensation arising from an employee's illness or injury due to their work for you.

Business premises insurance is also commonly included. If you run one or more commercial vehicles for deliveries, you may need separate van insurance that covers multiple drivers so staff can share the driving legally and flexibly.

What is not covered by furniture shop insurance?

The main limit to be aware of is on stock claims: a claim will cover the cost price of replacing your stock, not the recommended retail price you would have sold it for.

Vehicles are also outside a standard shop policy. If employees drive commercial vehicles for your business, that needs its own van insurance rather than relying on the shop cover. Beyond these points, what is excluded depends on the covers you choose and the terms of each insurer, so review the policy features alongside the price when you compare quotes.

How much does furniture shop insurance cost?

There is no single price for furniture shop insurance, because the cost depends on the covers you include and the details of your business.

Factors that shape the quote include the value of your stock, the size and nature of your premises, how many employees you have and whether you need extras such as cover for commercial vehicles. Because every shop is different, the practical way to find out what you would pay is to complete one short form and compare live quotes online from a panel of UK business insurers.

Is employers' liability insurance a legal requirement for a furniture shop?

Yes, if your furniture store has employees you will almost certainly be legally required to have employers' liability insurance in place.

It covers your business against court costs and compensation arising from an employee's illness or injury caused by their work for you. Not having it could mean a fine of up to £2,500 for each day you are without cover, so it is one of the first things to put in place when you take on staff. You can read more on our employers' liability insurance page.

How do I compare furniture shop insurance quotes?

Enter your details in one short form, then compare live quotes online from a panel of UK business insurers who specialise in tailoring covers including business premises, public liability and employers' liability.

The process has three steps:

• Enter your details: provide details about you and your business.
• Compare quotes: review quotes and policy features from up to 5 insurance providers.
• Purchase cover: buy from your preferred provider.

Comparing is free. If your needs are less common, it is also worth discussing them with the insurer so the policy reflects your particular situation. For other types of retail business, see our general shop insurance page.