What is Gift Shop Insurance?
Gift shop insurance can financially protect against unexpected events, including damage to your premises, injury to the public and employees and theft.
Compare Gift Shop Insurance Quotes
As the owner of a gift shop, you’ll know that there are several potential risks involved with running 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 cover at the right price, giving you peace of mind that you are protected should the unexpected happen.
We understand that your time is valuable, so we have made it quick and simple to compare quotes. At Quote Goat, we help businesses compare gift shop insurance quotes from a panel of leading insurance providers. Upon submitting the quote form, up to 5 insurance providers will contact you with quotes to insure your gift shop.
What Does Gift Shop Insurance Include?
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, your mortgage provider may require commercial buildings insurance. 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 depending on your contract, so you need to know your position. Commercial Buildings Insurance works similarly to home buildings insurance. The policy dictates what cover you have. However, in general, it 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 liability insurance. This cover can protect you against the cost of court fees and compensation should an employee claim due to a work-related illness or injury.
Public Liability Insurance: Due to the high customer and public footfall in gift shops, it is sensible to have public liability insurance in case of injury or property damage caused by your gift shop.
Stock Insurance: Gift shops often carry a lot of stock. Stock insurance covers the cost of replacing damaged, stolen or destroyed stock. It is important to note that 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?
This completely depends on your business and specific circumstances. When you submit the quote form, you will be contacted by up to 5 insurance providers. They are best-placed to answer questions about your specific situation and will provide you with a tailored no-obligation quote.
Gift Shop Insurance FAQs
For specific questions relating to your business, it is best to get answers directly from an experienced insurance provider by submitting our quote form, however, below is a selection of more general frequently asked questions.
How much is gift shop insurance?
Insurance policy costs can vary significantly based on a multitude of factors including your business’s location, your claims history, number of employees, business type and more.
Therefore the most accurate way to find out how much a policy would cost is to get a no-obligation quote.
We have a landlord, do we need commercial property insurance?
Typically your landlord will be responsible for organising insurance for your premises, however this is not always the case, so be sure to check the appropriate documentation if you are unsure.
Can premiums be paid on a monthly basis?
Yes. Although it is cheaper to pay for your policy upfront (as you will not need to pay interest), many businesses choose to make monthly payments towards their insurance costs.
