Commercial Insurance For Your Frozen Food Shop
If you own the property from which you run your business
, for example a shop, then you will need to have insurance. Business insurance is different from ordinary house insurance and what type of policy you have will depend on the type of business you are running.If you lease out property to tenants for example, then you will need a different type of commercial insurance to what you need for a shop selling frozen foods.
When you own, rather than lease the building from which you do business, then you will need to insure the building against damage or destruction. You will need to have sufficient insurance should you need to rebuild the shop in the event of fire or some other disaster.
When you run a shop you will probably have plenty of fixtures and fittings that are essential to the smooth running of your business and you will need insurance cover for these. Read any policy very carefully so that you know what you are covered for, if you think there is something that needs cover and it is not mentioned and then you should query this before signing the policy documents.
Just as with any other insurance policy you should shop around for commercial insurance and get yourself several quotes. You may need professional help on estimating the cost of a potential total rebuild of your shop and for the loss of business you will suffer while the building is taking place. While some of this advice may seem over cautious, when it comes to business you really do need to be insured against every conceivable risk if you are not to lose everything.
When you run a shop you will need to insure your stock. Frozen food is probably at greater risk than some other types of stock as it will be adversely affected by power cuts or machinery breakdowns. Your commercial insurance policy should take account of your particular type of stock.
If you have a company van for collecting stock from the wholesalers or for making deliveries then you will also need commercial van insurance.
When you insure the van you will also need extra insurance for any goods carried in the van, as stock is usually insured while it is on your premises. If you employ someone to pick up stock or to make deliveries and expect them to drive your van, then you will need to have them insured as a named driver for your business.
When you own a shop you are required to have indemnity insurance to cover you in case a customer is injured in your shop and wants to claim for damages. We seem to have entered the age of accident claims and if you are not covered in the event of an accident on your premises it could cost you a lot of money. It is a good idea to consult your solicitor or a specialised commercial insurance company before you shop around for commercial insurance as they should be able to assist you in getting cover that is comprehensive enough for your needs.
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