If you run a shop, then having adequate shop insurance is vital. Having shop insurance will protect you should any unpredictable events occur. Fire, lightning or flooding for example.
Public Liability Cover
You will need public liability cover if you run a shop. Public liability cover will protect you if a customer is injured or a customer’s property is damaged on your business premises. For example, a customer walks in to your shop, trips over a cable and sprains their ankle. The customer could then make a claim against you so that they could be compensated for the injury they have suffered. Public liability cover will take care of any medical costs, compensation payments and legal fees related to the claim. Without this form of cover, you may have to pay out on the whole claim.
Employers Liability Cover
If you are employing staff in your shop, then employers’ liability cover is something you must have because it is a legal requirement. By taking out employers’ liability cover, you will be covered if you need to pay any form of compensation to an employee or ex-employee who has been injured or fallen ill as a direct result of working for you. Employers’ liability cover, similar to public liability cover, will cover any medical costs, compensation payments or legal costs related to the claim against you so you don’t need to pay out on the whole claim by yourself.
Contents and Stock Insurance
As a shop, losing your stock could mean losing your livelihood, or at least harm your financial well-being. That’s why it is recommended that you take out contents and stock insurance, in the event that your contents and stock are damaged or stolen. Many insurers realize that some times of the year are busier than others so they will increase your cover to adjust to the increase of stock you may have, in the holiday season for example.
We at Trident Insurance, are here to make finding adequate shop insurance easier and we will work with you to find the best shop insurance cover available to you.