Knowledge Centre

As a retail business owner, one of the most important business decisions you can make is to protect your premises and assets with the right retail insurance. Retail insurance offers your business protection against natural and man-made disasters and human error. Buildings insurance ensures you are covered for the cost of rebuilding your premises should disaster strike.

Contents insurance provides protection for stock, furniture, fixtures, fittings and equipment in the event of flood, fire or other types of damage. If your business handles large quantities of cash, a money insurance policy can provide protection against theft and robbery.

Another important factor to consider when insuring your premises is the human element. As a responsible business owner, you need to ensure your staff members and customers are covered in the event of an illness or injury sustained on your premises. If a customer is accidentally injured in your store, a liability claim could be made against you.

Cleaning is an essential part of everyday business. How easy would it be for a customer or employee to slip and break an ankle on a wet floor? Would your business survive paying potentially bankrupting compensation to the complainant, not to mention the cost of legal counsel? Public liability insurance covers the cost of compensation and legal fees if a member of the public were to make a successful public liability claim against your business.

Have you considered the cost to your business if an employee is injured at work? This poses another financial threat to your business; the employee may submit a claim against your business. Employer’s liability insurance is designed to alleviate the financial threat to your business by covering legal fees and compensation in the event of a claim by an employee (the value is dependant on the amount of cover you choose).

There is a lot to consider when choosing the right retail insurance policy. If you shop wisely, retail insurance does not have to be expensive. Selecting a reputable and reliable company is the first step.

YOUR Insurance, the small business insurance specialist, offers a range of retail insurance options that can be tailored to suit your individual needs and budget. Contact us for more information or to request a free retail insurance quote today.