The retail sector has changed immensely over the last decade and as a result businesses need a retailers insurance solution that suits today’s competitive environment.
Retailers insurance is offered by the vast majority of insurance companies as a shop insurance package policy with a set wording, prescribed policy limits and an array of standard conditions and/or warranties.
The key to making sure that your retailers insurance policy suits your business is to use an insurance broker that fully understands your business, asks the right questions of you and who knows the insurance market and the various policies on offer inside out.
Important factors to consider when arranging your Retailers Insurance policy include:
- Adequacy of your sums insured, particularly with regarding to fixtures, fitting and stock
- The Insurers minimum security requirements – can you comply with them?
- Business Interruption – how would your business be affected if there was a fire or flood at your office? How would you be affected if there was a failure in the power supply or an incident at a neighbours’ premises denying your customers access to your shop?
- Money – what limits do you need? How is money secured at our premises during the day and overnight?
- Liability Insurance – do you need more than that provided by a standard policy?
Of course the term “retail” does not just apply to the traditional bricks and mortar store. Many shops now also sell their goods on-line either on their their own eCommerce website or through the websites of others such as Ebay and Amazon. This brings with it another set of risks and insurance considerations.
Some retailers sell purely on-line and these on-line shops needs their own specialist on-line retailers insurance solutions. We can help you with this to make sure your insurance provides the cover your business needs. We deal with a wide range of insurance companies including specialist underwriting agencies offering bespoke solutions for online traders.
Whatever your type of business, whether you trade from one shop or own a chain of twenty; whether you trade from premises, from a website or a combination of the two we are confident that we have the right retailers insurance solution for your business, with the right insurance company and at the right premium.