Running a shop always comes with certain dangers and risks, which is why you need to compare shop insurance quotes and make sure your business is properly protected.
The retail sector is notoriously busy, with successful shops seeing high levels of foot traffic on a daily basis. Of course, such a busy environment increases the likelihood of someone having an accident or damaging your property, and finding the right insurance policy is the only way to cover yourself from any unexpected events.
Fortunately, Quote Goat make it easier than ever for you to compare shop insurance quotes and find yourself a cheap deal. Just click the ‘Get a Quote’ button above, fill out your details, and then speak to one of our brokers all about your specific policy requirements.
After all, every shop is different, and Quote Goat are here to help you find the perfect insurance policy for your business.
Why Do I Need Shop Insurance?
Although you might think it’s incredibly unlikely, accidents do happen. When you’re running a shop, you have a responsibility to protect your customers, staff and business as a whole; and finding effective shop insurance is the only way of providing that protection.
As a shop owner, the safety of your business should always be of paramount importance. Shop insurance will protect your stock against damage or theft, your building from vandalism and your business from any claims from customers. Whatever your requirements, you can always tailor your policy to suit your own specific needs.
Whether you’re an enormous high street retailer or a local news agent, shop insurance keeps your business safe.
What Insurance Does A Shop Need?
When putting your shop insurance policy together, you’ll undoubtedly be confronted by all kinds of confusing options and add-ons. But there’s no need to feel overwhelmed by it all, because you just need to remember that no two shops are the same and you simply need to select options applicable to your business.
For the most part, however, you should consider including the following insurance to make sure you’ve covered all the major bases.
Contents Insurance – this will cover your stock, shelves, displays and other types of equipment from theft and damage. In short, this will protect your shop’s interior.
Public Liability Insurance – since you’ll undoubtedly be expecting customers, this insurance needs to be considered a top priority. If a customer injures themselves or damages their property on your premises, public liability insurance will cover legal costs and compensation.
Employer’s Liability Insurance – if you employ any staff, then you’ll be required to take out employer’s liability insurance to protect you in case of an employee becoming injured while working for you.
Buildings Insurance – if you own the building your shop is based in, then you’ll need to take out buildings insurance to cover the costs of repairing any damage or vandalism.
Product Liability Insurance – this covers you in the event of a product you sell causing damage, injury or illness to a customer. Even if you haven’t manufactured the product, you can find yourself liable in such an event.
Business Interruption Insurance – if you’re unable to open your doors due to theft, vandalism, fire, or any similar circumstances, then this will cover the costs of lost sales, wages and even rent. This is essential for getting yourself back on your feet in the event of a disaster.
Is Shop Insurance Required By Law?
Although many aspects of shop insurance are strongly recommended, only employer’s liability insurance is a legal requirement. Once you’ve become an employer and started hiring your own staff, you could actually be fined £2500 for every day you aren’t properly insured, so it’s obviously important to get this sorted straight away.
However, ignoring other types of shop insurance could have even greater repercussions on your business and your livelihood.
Compare Cheap Shop Insurance Quotes
Your shop insurance can include as many (or as few) of these policies as you like. It all depends on which aspects are relevant to your business and which parts of your shop need protecting.
The price of your shop insurance will obviously depend on what you decide to cover, where you’re based and how much risk is involved for the insurer. However, you can always compare shop insurance quotes at Quote Goat to find a great deal.
Just enter your details through the link at the top of the page, and then speak to one of our brokers to find some cheap shop insurance quotes in the UK!