Buying with Confidence
Buying insurance for shop and retail customer-facing enterprises is essential in protecting yourself and your business. Shop insurance can provide cover for the buildings, contents, stock, liability for the public and your employees, and lost revenue due to business interruption. We have access to insurers that provide cover for a wide range of retail businesses including supermarkets, florists, bookshops, butchers, bakers and food outlets.
If you own a deli, bakery, greengrocer, or any other type of retail food business, you will need insurance that protects you, should one of your customers become ill from your products. Similarly, if you run a hairdresser or beauty salon, you’ll need cover that insures you for any compensation claims or legal fees that may arise because of chemicals harming your clients
What Shop Insurance coverage do we provide?
These are the insurance coverage you will typically see under a Retail & Shop Insurance policy:
- Building & Contents
- Employers Liability Insurance – a legal requirement in the UK
- Public Liability Insurance
- Business Interruption
- Cyber & Data Insurance
- Mechanical, Electrical & IT Equipment
- Assault & Money Cover
- Legal Expenses Insurance
Retail Shop Insurance
Key policy features
Building & Contents Insurance
Retail shops rely heavily on their premises and inventory. The range of insurance policies we have access to cover damage or loss due to events such as fire, theft, and water damage. This ensures that your shop’s structure and contents (such as fixtures and fittings, and display features i.e. shelving and cabinets) are protected, allowing trading to recover quickly from an insured incident.
Public Liability Insurance
Retail businesses face various liability risks, from injuries to members of the public on your premises to product-related claims. We can access insurance policies for Public Liability and Product Liability which provide protection against legal expenses and compensation costs if you have been negligent and are liable.
Employers’ Liability Insurance
Employers’ Liability Insurance is a legal requirement in the UK. It protects you against compensation claims made against you by your employee(s) should they become ill or suffer a personal accident as a result of working for you. We can arrange Employers’ Liability Insurance which covers damages, legal fees and compensation costs should your employee’s claim be upheld.
Business Interruption Insurance
Unforeseen events can disrupt trading and customer service. This can lead to significant financial losses. We can arrange Business Interruption Insurance that helps cover lost income and additional expenses incurred while your shop or ecommerce business is out of action.
Insurance Cover for Stock
Stock will be the basis of your retail business. The insurance policies we can provide can cover your stock against risks such as theft, damage, and spoilage caused by insured events such as fire. This protection means that you can replace lost or damaged goods without incurring significant financial strain.
Many retail businesses have key periods of the year where they are busier than usual. This option is great for shops and retailers that see fluctuations throughout the year. You may hold more stock during the Christmas period, for example. Insurance Cover for Stock can cover these seasonal increases of stock up to the amount allowed by your insurer, so that if anything were to happen to your products, you would be financially covered and compensated.
Additional Cover - what other policies could you need?
Cyber Insurance
Retail businesses hold sensitive customer data and often process payments online. Cyber criminals are always finding new ways to hack into systems, most commonly through opening an attachment in a fake email. If this happens and they access your data or bank account, the impact on your business could be devastating. The Cyber Insurance coverage we offer can be tailored to cover you for:
- Hacks and data breaches that can lead to a pause in trading and lost income (Business Interruption)
- Repairing your systems, and restoring data and equipment
- 24/7 emergency response to address the cyber incident
- Access to IT experts and cyber forensic team
- Legal support to advise on GDPR and data breaches
- Funding of advisory notices if required
- Legal defence costs and damages you may be liable for
- PR support to defend your business’ reputation
Legal Expenses Insurance
Running a retail business or shop can potentially lead to unexpected legal disputes. These could threaten or impact your business’s financial stability. We can provide Legal Expenses Insurance to be used as financial protection against the often-substantial costs of legal proceedings.
This specialist coverage safeguards your business against expenses related to employment disputes, tax investigations, property protection, and contractual disagreements. When legal challenges emerge, you can access expert legal advice and representation without the burden of escalating costs.
Online and E-commerce businesses
If you own an online business with a shop front, you will need Retail & Shop Insurance which covers your building and stock, and liabilities insurances including Product Liability Insurance.
If you are an online retailer or run several online shops which are solely e-commerce and you store your products in a warehouse, you will need Manufacturing & Warehousing Insurance which we can provide (insert link to Manufacturing & Wholesale page)
Tailored cover for I.T. systems is a crucial insurance if you operate an ecommerce business as the bulk of your orders will come through as online orders. Cyber Insurance can help protect you should you be a victim of a cyber attack.
Partnering for Success
We’re more than just an insurance provider. Our deep understanding of the retail sector, combined with our commitment to personalised service, ensures that you have a reliable team to help you arrange the correct level of insurance for your enterprise – because no two retail businesses are the same.
To find out more or to discuss a Retail Shop Insurance quote, contact us today.
What Makes Us Different?
You’re a part of our virtuous circle of giving. This means when you take out a Retail Shop Insurance policy with us, it enables us to give even more to our communities.
As part of the Benefact Group, we’ve given to local charities including Libraries Unlimited, Hands Up For Down’s, Musical memories Choir, and Foothold Cymru.
Why Local
Businesses Choose Us
Community-Focused Insurance
We care about protecting local businesses in our area. We understand the challenges and opportunities you face.
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Know Us
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With a Heart
We’re part of the Benefact Group who give all available profits to good causes.