Compare Gift Shop Insurance Quotes
As the owner of a gift shop you’ll know that there are a number of potential risks involved with running a commercial premises, including water & fire damage, theft, injuries to members of the public or employees and more. In light of this, comparing insurance for your gift shop can help you find the right cover at the right price, giving you peace of mind that you are protected should the unexpected happen.
At Quote Goat, we help businesses compare gift shop insurance quotes from a panel of leading insurance providers. As a business owner we understand that your time is valuable, which is why we have made it quick and simple to compare quotes. Upon submitting the quote form, a panel of insurance brokers will provide you with quotes to insure your gift shop.
What Cover Can Be Included With Gift Shop Insurance?
Typical covers that you may want to include in your gift shop insurance policy are:
Commercial Buildings Insurance: If you have a mortgage on your gift shop then having commercial buildings insurance may be a requirement placed on your business by your mortgage provider. If you are a tenant then it is standard practice for the landlord to arrange commercial buildings insurance and pass the cost onto you as the tenant. However this can vary dependent on your contract, so you’ll need to make sure you know your position. Commercial Buildings Insurance works in a similar way to home buildings insurance. What is specifically covered depends on the policy you take out, however it generally covers the property in the event of damage, fire, vandalism, burst water pipes, subsidence and business interruption insurance if you lose income due to an insured event that damaged the property.
Gift Shop Contents Insurance: Your gift shop will most likely have a fair amount of expensive electronic equipment and furnishings in store. Contents insurance can cover you for theft, flood & fire damage & vandalism to the contents of your gift shop.
Employer’s Liability Insurance: If your gift shop has employees, it is a legal requirement to have employer’s liability insurance in place. This can protect you against the cost of court fees and compensation should an employee make a claim due to a work-related illness or injury.
Public Liability Insurance: Due to the nature of a gift shop having high footfall from customers and other members of the public, it is sensible to have public liability insurance in place in the event that a member of the public, customer or client is injured or has their property damaged as a result of your gift shop.
Stock Insurance: Gift shops often carry a lot of stock. Stock insurance can cover the cost of replacing your stock should it be damaged, stolen or destroyed. It is important to note that in the claim amount will be for replacing your gift shop stock at cost, not at the recommended retail price.
What Level Of Gift Shop Insurance Do I Require?
If you are unsure about the level of insurance you require or what should be included, all of your questions can be answered by the insurance providers when they call you to discuss your quote.
Other Ways To Save Money
Business Energy Comparison: When the time comes to renew your energy supply, you can save an average of £900 per year by switching providers. Everything is handled by our business energy partners and the service is free.
International Money Transfers: If your gift shop is importing/exporting goods, you may find yourself working in multiple currencies. Although your business bank is often the first port of call, it is almost never the cheapest with banks adding on margins of up to 5% to transfer funds between currencies. The cost-effective way to handle international money transfers is to use a currency broker, you can compare rates on a comparison table.