| As a shop owner you may realise that whilst you | | | | - Protection for your staff - ie. employers' liability |
| share many common factors with other retailers, | | | | insurance (this is in most cases a legal requirement if |
| your own shop may have its own particular needs in | | | | you employ any staff); |
| many ways. You may also find that this is the case | | | | - Protection for your customers - i.e. public liability |
| with the different kinds of retail insurance available, | | | | cover. |
| as not all of the options on offer will necessarily | | | | So, for example, you may want to consider other |
| provide the same features and benefits. | | | | features and benefits such as: |
| For example, if you go to a traditional insurance | | | | - Glass replacement services - having 24 hour access |
| source you may be offered commercial insurance, | | | | to a glass replacement service could be extremely |
| and in some cases this may well cover your own | | | | useful if your shop windows get damaged or are |
| individual needs but, in many cases, it may only go so | | | | broken; |
| far. A standard business insurance policy may not | | | | - Business interruption cover - if your shop has to |
| offer you all the industry-specific elements that you | | | | close after an incident such as a fire then you will |
| need. | | | | immediately lose your income unless you have this |
| In some cases you may even find that you are | | | | benefit which could assist you financially; |
| viewed as being a high risk when it comes to certain | | | | - Flexible stock insurance - most shops won't hold the |
| things simply because you work in the retail sector. | | | | same amount/value of stock year round. Busy |
| All of the shop insurance features and benefits that | | | | periods such as Christmas could, for example, see |
| you need may be on offer to you. However, some | | | | you with increased stock holdings. This kind of cover |
| of them may come with an additional cost simply | | | | has built in flexibility to increase your stock insurance |
| because an insurer has classified these particular | | | | coverage during pre-defined times. |
| areas of protection as being high risk within your | | | | The benefits you need as part of your retail |
| industry. | | | | insurance policy may be different from those of your |
| So, what do you need to consider when choosing | | | | neighbouring shop owners and you may find that |
| your cover? In general terms you may be offered a | | | | many standard commercial insurers cannot take this |
| basic mix of standard insurance elements, including: | | | | fact fully into account. You may want to consider |
| - Protection for your shop - ie. buildings/contents | | | | getting some expert help before you buy a policy to |
| cover as applicable; | | | | ensure that you get suitable cover for your needs. |