Shop Insurance
Shop insurance can help protect retailers, store owners, high street shops, independent shops, convenience stores, salons, specialist retailers and other businesses with premises, stock, staff and customers.
If you would like help finding suitable shop insurance, Quote Monkey can help route your enquiry for specialist review. Suitable enquiries may be passed to an independent specialist insurance broker who can review your requirements.
General Shop Insurance Information
Shop insurance, also known as retail insurance or store insurance, is a type of business insurance designed for risks connected with running a shop or retail premises.
Cover may help protect against financial losses linked to property damage, stock damage, theft, public liability claims, product liability claims, staff injuries, business interruption and other risks that can affect a retail business.
Quote Monkey can pass suitable enquiries to an independent specialist broker who can review your requirements and advise whether they may be able to help.
What Can Shop Insurance Cover?
Shop Buildings and Contents
Cover may help protect shop premises, fixtures, fittings, equipment, furniture and other business contents against insured damage or loss.
Stock Insurance
Stock cover may help with the cost of replacing goods held for sale if they are damaged, stolen or affected by an insured event.
Public Liability
Public liability insurance may help if a customer, visitor or third party claims they were injured or their property was damaged because of your shop business.
Product Liability
Product liability insurance may be relevant if products sold or supplied by the shop cause injury, illness or property damage.
Why Shop Owners May Need Cover
Shop owners may face risks from customers visiting the premises, stock held for sale, staff, suppliers, deliveries, equipment, fixtures, glass, cash handling and interruption to trading.
Examples could include a customer slipping in the shop, stock being damaged by a leak, a break-in damaging fixtures, a product causing injury, or a fire forcing the business to close temporarily.
Retail Premises, Stock and Equipment
Shop insurance may include cover for buildings, contents, fixtures, fittings, tills, shelving, refrigeration units, displays, signage, stock and business equipment.
A specialist broker may ask about the shop type, location, security, stock values, opening hours, claims history, turnover and whether the premises are owned or leased.
Customers, Staff and Business Interruption
Retail businesses may need public liability, employers' liability, product liability and business interruption cover depending on how the shop operates.
Broker and insurer acceptance can depend on the goods sold, footfall, staff numbers, health and safety arrangements, previous claims and the level of cover requested.
Common Shop Insurance Sections
Depending on your business, shop insurance may include buildings insurance, contents insurance, stock insurance, glass cover, money cover, goods in transit, public liability, product liability, employers' liability and business interruption insurance.
The right combination of cover will depend on your premises, products, customers, employees, trading style and business risks.
Business Interruption and Loss of Income
Business interruption insurance may help if your shop cannot trade after an insured event such as fire, flood, storm damage or serious property damage.
This type of cover may help with lost income, fixed costs and additional expenses during the interruption period, subject to the policy wording and selected indemnity period.
Factors That Can Affect the Cost
The cost of shop insurance can depend on the type of shop, location, turnover, stock values, contents values, building value, security, claims history, number of employees, products sold and the level of cover required.
Providing accurate information can help the broker understand your shop and advise whether suitable cover may be available.
Policy Terms, Limits and Exclusions
Shop insurance policies can vary. Before arranging cover, review the policy wording, sums insured, liability limits, excesses, exclusions, security conditions, stock conditions, business interruption terms and any requirements that apply to your shop.
Cover is subject to insurer acceptance, underwriting criteria, selected limits, disclosed activities, terms and conditions.
Request a Specialist Broker Referral
If you would like help finding shop insurance, please complete the specialist referral enquiry form. Quote Monkey can pass suitable enquiries to an independent specialist broker who can review your requirements and advise whether they may be able to help.
Frequently Asked Questions – Shop Insurance
Below are answers to common questions about shop insurance and specialist broker referrals.
Shop insurance is business insurance designed for shops and retailers. It can include cover for premises, contents, stock, liability claims, staff, interruption to trading and other retail risks.
Quote Monkey can pass suitable enquiries to an independent specialist insurance broker who can review your requirements and advise whether they may be able to help. Any cover will be subject to underwriting, insurer acceptance, terms and conditions.
Many retail businesses may need cover, including high street shops, convenience stores, specialist retailers, salons, boutiques, food shops, pet shops, hardware shops and other premises-based businesses.
Stock insurance may be available as part of a shop insurance policy. The amount of cover required should reflect the value of goods held for sale, including seasonal increases where relevant.
Public liability can often be included. It may help if a customer, visitor or third party claims they were injured or their property was damaged because of your shop business.
If you employ staff, employers' liability insurance may be legally required in the UK. This can apply to full-time, part-time, temporary or casual workers depending on the arrangement.
A broker may ask about your shop type, address, turnover, stock value, contents value, building details, security, staff numbers, products sold, claims history and the level of cover required.
No. Cover is not guaranteed. Any quotation or offer of insurance will be subject to the specialist broker's and insurer's underwriting criteria, terms and conditions.
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