cover your assets
Contents Insurance does exactly what it says on the tin – provides cover for your contents and stock. This insurance will pay out in the event of damaged, stolen or destroyed stock – for example by a flood or fire. Seasonal increase cover is included in this, which will increase your level of cover when the value of your stock increases. This is ideal for shops that will see their stock levels rise during busy parts of the year, for example during the Christmas period.
Businesses selling frozen foods or other refrigerated perishable goods can protect themselves against damage, deterioration or contamination if your unit breaks as a result of mechanical or electrical defects, failure of temperature controls, or accidental failure of the public electricity supply.
You should also think about insuring two of your most important assets – your money and your shop. Loss of Money cover will protect you against the loss of money on the premises or whilst in transit, for example whilst on the way to the bank. Buildings Insurance protects the structure of your shop from vandalism or accidental damage as a result of fire, flood, theft or attempted theft.
Goods in Transit insurance is important for shop owners who want to protect their products while they’re being transported. If your goods are damaged whilst in transit by vehicles you own or have hired, you can claim the cost of replacing those goods with Goods in transit insurance. This will also cover you whilst loading and unloading your goods.