As with many business owners, shop owners need public liability insurance as a matter of law. If you have staff, employers’ liability insurance is also essential.
But what other coverage does a shop owner need? Content and stock insurance is important to protect your trade goods against damage or theft. Some policies automatically raise the value of this cover in December to reflect seasonal excess ordering – if you want this service, make sure to check your policy for it.
Business interruption insurance covers you against circumstances that prevent you trading (flood damage, etc.) This kind of cover is easily overlooked but can be absolutely vital.
Shop insurance policies include some or all the above cover. Make sure when comparing insurance policies that either the policy covers everything you need or that you can find the additional coverage in another policy cost-effectively.
It’s important when comparing insurance policies that you choose a policy that offers the cover you need. When you begin the comparison, you may want to start by rejecting policies which don’t support what you need.
You often don’t get great value from a policy offering cover that doesn’t apply to you, so these should be treated carefully. Other coverage may be something you consider nice but not essential to have.
Weigh up the cost of these optional extras against what it costs to have your ‘essential’ cover. By comparing carefully at this point you can pick out an ideal quote.
No two shops are alike. The policy that suits you best may not be the same policy as the shop next door. Online comparison services allow you to bring quotes together easily. After that, you must take care to get the best for you.
This Insurance comparison tool is provided for your use by SEOPA. Insuro.co.uk and SEO 24/7 are not responsible for the contents of the comparison you receive.
Simply fill in your details in the form above and see what sort of deal you could get on your shop insurance policy!