Looking for shop insurance? A simple format offers a basic core cover, and a range of optional extras enables customers to create a policy specifically tailored to their business needs.
Core Covers
Property Damage
This can be on a Specified Contingencies basis or All Risks
Typical extensions include temporary removal of goods up to 15% of the sum insured
Season stock increases (to take into account busy trading periods)
Glass cover
Cover can also be extended to include terrorism and subsidence/heave/landslip.
Money and assault
Limit can vary slightly but normal limits as follow:
Money from premises during business hours £3000
Money whilst in transit £3000
From a locked safe £1500
Cover is also provided whilst at employees premises and after business hows not in locked safe.
Bodily injury following assault whilst carrying money is also covered up to minimal limits
Goods in transit
Covers owns goods in transit using own vehicles (such as from suppliers or delivering goods to customers) Limit usually in the region of £2500 per carrying.
Business Interruption
Covers interruption to the business following an insured loss under the Property Damage section of the policy.
Typical extensions under this section would include accidental failure of utilities (gas, water and electric – but a time franchise will apply)
Damage at suppliers premises
Prevention of access
Loss of book debts – loss of business records destroyed or damaged due to an insured event.
Employers Liability
Protection against your legal liability for bodily injury to your employees up to a limit of £10,000,000, including legal costs and expenses in defending prosecutions under relevant health and safety legislation.
Public and Products Liability
Protection against your legal liability for bodily injury to third parties and damage to their property. Limit of indemnity normally £2,000,000 but higher limit of £5,000,000 can be obtained. Cover including legal costs and expenses in defending prosecutions under relevant health and safety legislation.
Typical extensions include cover for employees and visitors personal effects and with regards to hairdressing/beauty salons professional treatment can be included.
Legal Protection
Protection for legal costs and expenses arising from civil and criminal incidents in connection with the business:
Most include legal expenses to cater for the following:
Employment disputes and compensation awards
Tax advice/protection
Contract disputes
Legal defense
Optional Covers
Employee Dishonesty
Frozen/refrigerated food
Loss of license
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