subject: Shop Insurance Policy For Business Owners [print this page] One of the most important things for shop owners is to know about what actually comes under the coverage of their shop insurance policy. Many business owners do not fully understand exactly what their shop insurance policy actually provides cover for. Also there is a duty of care by the shop owner to ensure that they oblige any conditions set in the policy. Some of these conditions can include for the shop to have a fully functional alarm system.
In many cases a whole family is dependant on the successful running of the shop. If there was a fire or a claim from a customer that had slipped on the shop floor, this can cause considerable financial loss for the shop keeper without a proper shop business insurance cover in place. There are cases where multiple families" sole source of income is the shop business. If there was a fire and no insurance cover in place many individuals could face hardship.
There are many types of shop insurance policies available to suit the budgets of most shop owners. Most retail shop insurance packages automatically include items such as public liability insurance. So if a customer did try to launch a liability claim against your business then this part of the cover will provide the necessary protection. Other items that a shop policy usually comes with include employers, liability, goods in transit, business interruption, content, stock, fixtures and fittings to name a few.
The sum insured for these items obviously depend on the individual shop. These can be tailored to the exact requirements of the business. The cost of a shop insurance policy is actually very low in comparison the yearly costs that is incurred by the business to operate. The difference is that without a shop insurance cover in place, your business could face financial ruin or even closure should a disaster was to occur. As part of the overall business expenditure the shop insurance policy budget should be included by the shop keeper.
It is false economy to assume that your shop is immune to all disasters. Fire, theft, storm damage are constant threats to businesses all over. With the internet available in almost all UK homes getting an online shop insurance quote is far easier that trawling through phone directories and calling individual companies for quotes. Many compare insurance quote portals are available online so you do not have to enter your details multiple times. Submit your shop insurance quote details once and you will receive many quotes back in minutes.
Most people are surprised to find that shop policies are affordable and do offer great benefits. Most insurers will also offer easy payment options such as spreading the cost of the shop insurance policy over monthly payment plans. Usually this will attract a small interest charge as this is similar to taking out a loan.
The best place to search for cheap shop insurance quotes is through brokers that specialise in business insurance products and have an online portal to submit for quotes. Many brokers exist that only specialise in business insurance solutions for all type of small, medium and large businesses.
by: Mark Francis
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