Shop Insurance

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Why Compare Cheap Shop Insurance With SimplyQuote

If you want to save money on your business insurance premiums, you must compare shop insurance quotes with SimplyQuote.

We understand how tedious comparing multiple insurance quotes from multiple insurance providers can be – and we have the perfect solution: the 100% free, online, comparison tool.

Access a wide range of suitable insurance policies from leading UK insurers in a matter of minutes. If this isn’t simple enough for you, then we don’t know what is!

What Do You Need To Get A Quote?

Why Do You Need Shop Insurance?

What Does Shop Insurance Cover?

Shop insurance covers a multitude of things:

Public liability insurance

Public liability insurance can cover a wide range of aspects, but the most common things that it covers are claim settlements, legal fees, and repair or replacement costs.

Businesses are responsible for ensuring the welfare of each individual who visits their premises. If a member of the public is injured on retail business property or as a result of a business’s activities, public liability insurance can cover that retail business.

Note: Public liability insurance should not be confused with public indemnity insurance which protects you against negligence claims.

Employers’ liability insurance

In the UK, employers’ liability insurance is a legal requirement. While fulfilling duties on or off the retail premises, an employee may fall ill or sustain a serious injury. This type of insurance, therefore, protects the business against claims and lawsuits from employees by handling legal costs and compensatory payouts, as needed.

Professional indemnity

When a professional or a professional’s business provides a client with advice or services that result in a loss on the client’s part, then that client may look to file a lawsuit against them. Professional indemnity insurance covers legal costs incurred when defending yourself from such a suit.

Buildings insurance

Buildings insurance can cover the cost of repairing or completely rebuilding a business following damage to the structure. This includes damage caused by events such as fire, flooding, attempted theft, and burst pipes.

Business interruption insurance

When your business operations have to halt due to uncontrollable circumstances, the loss you experience may be incredibly hard to recover from.

This is where business interruption cover can be a lifesaver.

With business interruption insurance, your insurer will help restore your business to the same financial state it was before the accident occurred as well as cover any loss of income.

Business interruption insurance should always be part of your shop insurance policy.

Stock insurance

Stock cover is key for retail businesses, particularly those in the FMCG (fast-moving consumer goods) sector. If stock is damaged, stolen, or lost, stock insurance can cover the cost of replacing that stock.

Product liability

In the event a product you sell causes harm, injury or illness to a customer (e.g. a body lotion has caused a skin allergy), you are financially protected with product liability insurance.

Personal accident insurance

With personal accident cover, business owners and their dependents can be covered should an accidental death occur or an injury causing a temporary disability. This type of insurance can also come with various support services to ease recovery.

Accidental damage

Accidents happen from time to time at no fault of any one person. Accidental damage will cover you in these instances. For example, a customer accidentally knocks over a display stand.

Contents insurance

If your shop has fixtures, fittings, and furniture that can be lost, damaged, or stolen, then contents cover can handle the replacement or repair costs. It’s also worth checking if your shop insurance policy includes employee belongings under this cover.

What’s not covered?

  • Normal wear and tear to the property due to poor maintenance
  • Intentional damage caused by the shop owner (to claim insurance payout)
  • Negligence costs (e.g. leaving the cash register open and money is stolen)
  • Business vehicles – you will need separate business car/fleet insurance for this
  • Delivery vans (including scooters/mopeds, etc.) – if you run a food delivery service from your business, you’ll need specialised food delivery insurance

What kind of shops are covered?

Generally speaking, any kind of shop is covered with shop or retail insurance, including:

  • Food retail – coffee shops, cafes, restaurants, etc.
  • Arts and crafts
  • Clothing/retail
  • Grocery
  • Gift and greeting card shops
  • Newsagents
  • Boutiques
  • Cake makers and decorators

What Add-Ons Are Available For Shop Insurance In The UK?

There are several optional extras you can add to your shop insurance policy in the UK:

Terrorism cover

Commercial terrorism policies cover the cost of repairing, completely rebuilding or replacing property that has been destroyed or damaged during a terrorist attack. Terrorism insurance may also cover losses linked to the interruption of your operations or liability claims.

Business equipment

This policy is good for businesses that rely heavily on equipment, as an insurer can expedite the repair or replacement of equipment. They will cover the costs to repair or replace damaged, stolen or faulty equipment.

Takeaway insurance

If you deliver food from your grocery store or cafe, opt for food delivery insurance to ensure you are properly covered in an accident.

Legal expenses

As the name suggests, legal expenses insurance covers the cost of legal fees when you require the service of a lawyer. This applies when someone else takes you to court or vice versa.

Cyber theft insurance

Cyber insurance was created to help businesses recover from any financial or legal harm associated with a data breach. Depending on the type of business you run, having cyber insurance may also be a means of complying with certain online trading regulations.

Online shop insurance

This policy usually covers everything that a “physical shop” insurance policy would cover. However, the terms and conditions may differ so you need to check these with your chosen insurer.

How Much Does Shop Insurance Cost?

How Can You Get Cheaper Insurance Rates?

How To Compare Shop Insurance Quotes With SimplyQuote?

Comparing shop insurance services with SimplyQuote is quick and hassle-free: 

  1. Fill in the quick form with a few personal and business details.
  2. Choose policy add-ons and optional extras best suited to your business.
  3. Compare quotes effortlessly from a range of top-class UK insurers.
  4. Save money and get the best deal today!
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Frequently Asked Questions

What is shop insurance?

Shop insurance is a type of commercial property insurance tailored to retail stores. It protects them from risks and claims that could cause legal and financial problems. More often than not, these claims come from customers who have sustained an injury on the site of your operations, gotten sick through your products or from incidents related to staff members.

Customer-facing businesses run many risks when providing products or services to the public, and naturally, shop owners also want to protect the shop’s building, contents, stock, and personnel. A shop insurance policy is specifically designed to do that.

How much shop insurance do I need?

The short answer: it depends. The amount of retail business insurance you need depends on your business operations. If you are selling high-ticket items like luxury fashion, antiques or jewellery – you’ll need more insurance cover than a newsagent or stationery shop.

You must tailor your business insurance policy to what suits your business and budget.

What is a business owner’s policy (BOP)?

A business owner’s policy is a type of insurance that bundles various types of cover into one package. Because these packages typically offer cover at a lower rate than making separate cover purchases, they tend to be a popular option for small businesses.

Most business owners’ policies cover property damage, legal liability, and business interruption but won’t cover commercial auto insurance, health insurance, disability insurance, professional services insurance, and professional liability insurance.

Additionally, BOPs are generally exclusively available to small and medium-sized businesses in lower-risk industries such as retail and manufacturing. Always clarify the extent of cover with a prospective insurer before signing any documents.

What is a Financial Services Registration Number?

A Financial Services Registration Number is a unique identifier assigned to UK businesses, individuals, and bodies regulated by the Financial Service Authority.