When it comes to Retail and Shop Insurance, the following are hazards that every retail business owner should be aware of so that you can put steps in place to not only prevent them, but protect you should they occur:
Slips and Falls
Slips and falls is one of the greatest hazards for a retail business, likely to come from customers and employees causing injury or even require hospitalisation, many of which seek compensation for the harm in a court case. Typical causes can come from objects left in the aisles and entrance, liquid spills, uneven floors or loose rugs and mats.
Theft
Shops are a big target for burglars, whether that is stealing any cash stored in tills or stealing stock. However, it’s not just theft that can leave you out of pocket: it’s the associated damage – to windows, fixtures, fittings and your safe or till.
Stock Damage
Natural disasters can really take their toll on your premises, stock and contents, affecting your ability to do business. Especially if you deal with food and drink, power outages can result in product losses, especially from those that need to be refrigerated. If you own a bakery, butchers or cafe, then this is likely your worst nightmare.
Cyber Attack
This is an area that is becoming more of a risk for retail businesses year in year out, and is only going to grow for years to come. The most common risk tends to be digital criminals who target your online shop in various ways: a phishing scam may convince unsuspecting employees or customers to hand over their personal details and payment information. Cyber-attack interfering with the server your website runs on, preventing customers from purchasing items. Hacks into your point-of-sale systems limiting your ability to trade, especially if clients have no cash on them.
Damage to property
If you own the property, there are many situations that could cause not only damage to the premises but could also affect running the business. Acts of nature, machine malfunctions or just simple accidents can have a huge impact and damage to the property and is a common area for insurance claims.
How to protect yourself from these risks
Cleddau insurance can accommodate for a range of different risks under one insurance policy. For example, Product Liability Insurance, Public Liability Insurance, and Employers’ Liability Insurance can all be included in your Shop Insurance quote, as can Cyber Insurance, Online Cover, and Business Interruption Insurance.
So whether you’re after Shop Premises Insurance, Loss of Money Insurance, Business Legal Protection Insurance or Contents cover, we can provide this all to you and more within one policy. For your Insurance quote please contact us today
