Insurance for Retailers

There are many types of cover available to retailers. Depending on your business needs, you might consider popular policies, such as:

1. Public Liability insurance

Public Liability insurance is an important type of insurance cover for retail shop owners. Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.

It’s also important to ensure you have appropriate Product Liability cover to protect your business against personal injury or property damage claims caused by the products you sell.  Many Public Liability policies include Product Liability cover.

2. Business Insurance

Your customers are important, but so are your business assets. Without the right cover, you could be hit with a few unwanted challenges that could leave you severely out of pocket.

Business Insurance can provide cover for:

• Contents and stock* – this type of insurance provides cover for loss of or damage to items such as business equipment, stock, plant and machinery, records and furniture belonging to you at the insured location.

• Theft – This type of insurance can cover your contents and stock from theft, attempted theft or armed hold up. Your items are normally required to be securely stored before the incident occurs.

• Building* – this type of insurance will cover for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind).  

• Glass* – a common coverage for retail businesses is glass insurance, which covers for damage to the glass and signage at the insured business location.

• Money* – protect money belonging to your business from being lost, stolen or damaged whilst on your premises, in transit, or in your personal custody.

Business Interruption* – could your business survive being shut due to an insurable event, for a few days, a week, or longer? Business interruption insurance covers for financial loss as a result of an interruption to your business caused by an insured event (such as fire).