What is Shop Insurance?
Whether you own a salon, coffee shop or clothes shop the principles of shop insurance are the same, you need cover for your Stock, Contents and Public & Employers Liability. Generally policies come as a package and will consist of elements of cover to include money, business interruption an in some cases even theft by employees. Policies can be tailored to suit your needs.
Buildings, Contents & Tenants Improvements Insurance
If you own the premises then you will need to include cover for buildings. This will cover the building including fixtures and fittings in the event of a loss such as a fire or flood. If you lease the premises you may want to consider insuring the physical changes you have made to the premises. These could include decoration, carpets or flooring and possibly fitting rooms and shelving etc. Finally, regardless of whether you own or lease your premises you will need to cover your contents and equipment. This could include tills, computer systems, furniture, fridges and so on.
Regardless of the type of shop you own you will be holding stock. Whether it be food, beauty products, medications, car parts or clothing it is vital that you are protected against theft, fire and storm / flood damage. A shop insurance policy can provide cover for your stock.
Public & Products Liability Insurance?
Public Liability Insurance provides cover in the event that you cause bodily injury, death or damage to property of any third party in the shop or in the course of your business. Products liability is generally included in this section to cover any liability arising out of the sale, alteration or repair of a product. An example of how public liability could protect you would be in an instance where a member of the public slipped on a wet floor on your premises.
Most policies automatically cover an element of money and other financial instruments on site during and outside business hours. There is usually strict limitations in place as to the amount of cash held and the security arrangements in place. These limits can however be extended to suit individual needs.
Sound Insurance are specialists in arranging Shop Insurance for all shop owners. Call us today on 01 524 2800 or visit sound.ie to find out more.