Why buy Shop Insurance through Viking Direct Insurance Services?

A shop insurance policy can be tailored to your needs, but typically includes:

• Accidental Damage
• Stock Insurance inc. automatic increase
• Contents cover for Goods in Transit
• Loss of Money
• Public and Employers Liability
• Glass and Signage cover

What Shop cover can offer?

Shop Insurance is effectively a ‘‘Package Policy’ because it combines a number of insurance types. It provides protection for your shop from a range of risks. And a good Shop Insurance policy will cover you for four main areas of risks. These are:

• Premises and Stock (Buildings and Contents Insurance)
• Your customers (Public Liability Insurance)
• Loss of income (Business Interruption Insurance)
• Claims made by employees or ex-employees regarding illness or injury caused by their work. (Employers Liability)

Why do I need a specialist Retail Insurance policy?

Across all industries, the most common type of accidents at work are ‘slip and trip’ incidents or involve manual lifting. It’s not difficult to see that both are highly likely on the shop floor or in a stock room. According to figures provided by the Health & Safety Executive, slip and trip accidents account for nearly 27% of all reported injuries to workers in the retail sector. 38% of accidents involve manual handling accidents such as lifting or carrying items. As well as these accidents happening to staff, they could easily happen to a member of the public. As a Shop owner, you have a duty of care and responsibility towards the people in your shop.

Shop building and content insurance

In addition to ensuring that your staff and customers are fully insured, it is also essential that your assets are covered. If you own the building then you will require Buildings Insurance to repair any accidental damages that may occur from insured perils. You will also want to take out business contents protection – for everything you hold on the premises from IT equipment to furnishings and other belongings. In addition, you will want to protect valuable stock, too.

What is included on an insurance policy for a retailer?

A Shop Insurance policy can be arranged to cover all risks associated with owning and running a shop.  The level of cover (maximum amount the policy would pay out) can be flexed, too. So, it’s worth thinking about:

Employers Liability Insurance

If you have anyone working for you, this is a legal requirement by law , even if they are part-time or volunteers. It provides cover if they have an accident or are injured while working for you.

Public Liability Insurance

This is designed to protect you and your customers should a member of the public have an accident in your shop. As a shop owner, you take responsibility to ensure that your shop floor is a safe place. However, accidents do happen, so you will need to be insured for this. It can cover legal bills and cover any pay out awarded.

Buildings Insurance

Buildings Insurance protects your building against accidental damage. It could, for example, be caused by a fire or flood. If anything were to happen to your building you may be without a place to work and face bills to fix it. Buildings Insurance can help cover the costs of temporary accommodation as well as the costs of fixing your building.

Contents Insurance

This will cover your possessions in the building. It could, for example, be your furniture, clothing rails, tills and computers. If they were to be damaged or stolen you may have to cease trading and pay for replacements. Individual items may not cost a lot, but could you afford to buy everything in one go if you had to? Contents Insurance can cover these costs.

Stock Insurance

Stock Insurance is separate to Contents Insurance. It covers any stock you may keep on site from accidental damage or theft. It will usually only cover the cost price, not the retail value.  You could have to pay for replacements as well as lose income if anything were to happen to your stock and you weren’t insured.

Business Interruption Insurance

If for any reason you have to stop trading, because of building damage or destroyed stock, for example, you could be making losses on your income. But you’d still have fixed outgoings like rent, wages and bills. Business Interruption Insurance will cover these costs where necessary.

You may have other things that you need to consider. For example, if you have a delivery vehicle or offer a shipping service to customers. It is worth talking to our broking team. They will be happy to take time to understand your business and recommend covers you should think about.

Why buy Shop Insurance through Viking Direct Insurance Services?

Running a busy retail business is hard enough. Managing the shop floor is one thing. You also need to take care of the stockroom, staff rotas and getting the internet orders dispatched. The last thing you need to do at the end of a busy day is research Shop Insurance.

A number of benefits are available for shop owners and managers. These include:

• 24-hour glass replacement with contents cover
• Emergency helpline
• Legal expenses helpline

Viking Direct Insurance Services has been established to offer fast, cost-effective, business insurance solutions. With a selection of policy options from over 75 insurers, there’s a wide choice and it’s all backed up by a UK based call centre. We want to help you save on your Shop Insurance policy. So, why not get in touch today?