Sadly, it is a fact of life that things go wrong. Any shrewd business owner knows they need to protect themselves and their livelihood against possible accidents or crime. If you are in charge of a shop, whether it’s brand new or well established, you need to make sure you are properly covered against all eventualities. Government statistics report that last year, 7.7 million crimes were committed against wholesale and retail businesses, the most of any business sector, which shows just how important the right cover is. Here are 4 things that you’re looking out for when taking out shop insurance cover:
Your shop facility
You can’t expect a shop to sell anything without a functioning premises to sell it in. If damage occurs to your shop, you need insurance to help you get it back in working order. This isn’t just the building itself, but all the equipment you need to help the shop function, in terms of shop fittings and technology.
The contents of your shop
In most cases, the problems that shops face relate to the products they sell. If you are the victim of theft or damage to the contents of your shop, your insurance will help you replace them. Don’t underestimate the value of the goods you have in your stockroom – losing them could seriously disrupt your financial stability.
Yourself
There’s nothing worse than having something go wrong with your shop, and then discovering that someone is suing you for negligence – whether a customer or an employee. Shop insurance will handle that for you, with public, products and employers’ liability cover.
Your future
If you find yourself unable to trade as the result of damage or theft, you can enter real financial difficulties if you aren’t properly insured. But if you are, you needn’t panic about the future, as you’ll be protected against consequential financial losses.