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Shop Insurance | Correct Cover & Protection For Retail Stores
Shop Insurance
Insurers and brokers might not still have shops on the high streets as much these days, but we know there are still plenty of businesses who still do – and all of them need to have the right cover in place to protect their interests! With so much footfall and so many different people entering and leaving your business each day, there are plenty of risks you’ll need to protect against. But, knowing which specific covers you’re going to need and even where to start can feel like an unconquerable mountain! But fear not, East Yorkshire Insurance Brokers are here to help you work out exactly which risks your business faces and to make sure that you get the correct insurance for a store, shop, salon or any other retail based business you may be operating.
Trusted by 250+
Local Businesses
Access To Over 300
Insurance Markets
Our Clients Rate
EYIB 4.9/5 Stars
Trusted By 250+ Local Businesses
Access To Over 300 Insurance Markets
Our Clients Rate EYIB 4.9/5 Stars
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What Is Retail Shop Insurance?
What Is It?
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Why Work With Us To Get Your Shop Insurance Right?
Why Choose EYIB
Experienced Insurance Advisors
As a brokerage we’ve traded for 4 years, but our team has over 15 years of experience in getting the right insurance for all kinds of retail stores and shops. We’ll make sure we understand exactly what you do and the risks you face in order to get you the right cover and keep you protected.
Huge Insurance Markets
We have access to a market of over 300 insurers and this means that after we take the time to understand what your business does, we can trawl through our phonebook and find you the right cover which will be competitively priced.
Trusted By Businesses
There are more than 250 different local businesses who already trust us to get their business’ best interests secured with the right insurance. So, if you’re needing shop insurance that won’t leave you in the dark on a rainy day, give us a shout!
Years Experience
Local Businesses Insured
Insurers
Our Insurance Partners
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Which Policies Are Included In Shop Insurance?
What’s Included?
Employers’ Liability Insurance
As a shop/retail business you’re likely going to be employing a team of staff, and when you do, employers’ liability insurance becomes a legal requirement. ELI is there as a cover for if any of your employees become ill or are seriously injured because of their work.
Public Liability Insurance
A customer having an accident and becoming injured in your shop is possibly the biggest nightmare most retailers could face. When it comes to getting the right insurance for a store then you’ll need public liability cover to protect you against being sued should this ever happen.
Public Liability Insurance
Professional Indemnity Insurance
Professional indemnity insurance protects you if a customer claims that advice or services you’ve provided caused them financial loss. This kind of claim could arise from something like a consultation, bespoke order, or service – but with professional indemnity insurance you will be protected from substantial losses.
Buildings & Contents
Contents insurance protects your shop’s fixtures, fittings, and stock from risks like fire, theft, or flood and buildings insurance does largely the same thing but from the structural damage caused by these things (and not just the stock). So if something unexpected or malicious happens to your store or its stock then this cover ensures you won’t be out of pocket.
Buildings & Contents
Terrorism Cover
Terrorism cover protects your business against damage caused by terrorist acts. While these events are rare, this optional add-on ensures you’re financially protected from their potentially devastating effects on your business were it to be caught up in such an awful event.
Business Equipment Insurance
Some of your equipment could be covered in a contents policy, but it may not always include things like back office PC’s and POS systems, so taking out additional business equipment insurance for shops is a good way to keep as much covered as possible should something bad happen.
Business Equipment Insurance
Legal Expenses Cover
Legal expenses insurance supports your business by covering the costs of legal disputes, such as employment tribunals, contract disagreements, or tax investigations. It’s an essential safety net for handling unexpected legal challenges without having to pay the expensive solicitors fees yourself.
How Much Does It Cost?
How much your retail shop insurance is going to cost depends on many different things really. The size of the shop and what it is that you sell will be two of the main factors, for example; a small boutique in a quiet village might pay less than a high-street electronics store in a major city. The level of different covers that you need is also going to change the cost of your shop insurance given that more comprehensive policies which include extras like business equipment insurance or terrorism cover will naturally cost more. Then just like many other insurance products, both personal and commercial, things like your claims history and the values of your sums insured is also going to influence what your overall premium will be.
The best thing to do is to reach out to our team and after a friendly conversation we’ll be able to help work out what kind of cover you need and give you a quote for what your overall premium will be.
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How Much Does Shop Insurance Cost?
How Much Does It Cost?
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As A Retailer, Do I Need Shop Insurance?
Do I Need It?
If you’re a retailer, then, yes you do! Shop insurance isn’t just a box for you to tick on your ‘admin to-do-list’ it is literally your last line of defense against claims and damages.
What happens if a customer slips on a freshly mopped floor or a power surge damages your card machine during peak trading hours? Maybe a fire breaks out and destroys your stock, or an employee suffers an injury while lifting heavy boxes. Each of these scenarios could result in significant financial losses, legal claims, or even temporary closure. Without the right insurance, the financial burden of these incidents could be devastating, no matter how careful you are.
An Example Of Shop Insurance In Action
Jane runs a small boutique selling handmade clothing and accessories. One busy Saturday afternoon, a customer trips over a loose rug near the entrance and is seriously injured, requiring a trip to the hospital. The customer decides to sue Jane for negligence, claiming compensation for their injuries and lost income. Jane is shocked, she’s always thought to herself that she runs a quite safe and welcoming shop but now faces legal fees and a hefty compensation payout that could cost tens of thousands of pounds.
Fortunately for Jane though, she’d had the foresight to take out public liability insurance when she opened her boutique. Her policy covers the legal expenses and compensation costs, meaning she doesn’t have to pay a penny out of pocket. Yes the incident itself will have been very stressful, but at least Jane’s insurer will be the one who handles the process on her behalf.
Jane’s experience shows how shop insurance can be the lifeline your business needs when the unexpected happens. Protect your business with EYIB – and safeguard your future today!
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More Examples Of How Retail Insurance Protects Shops
Retail & Shop Claim Examples
One of your employees slips while carrying boxes in the stockroom, injuring their back and requiring time off. They make a claim for compensation under employer liability laws. But so long as you have taken out Employers Liability Insurance, all of the associated legal fees and any potentially costly settlement costs are going to be taken care of and not left to you to find the money for.
Imagine the unthinkable for yourself as a local convenience store. Your shop is targeted by thieves overnight, and they not only steal valuable stock but also damage your shop fittings. The cost of replacing inventory and repairing damage could run into thousands. Thankfully, your contents insurance covers both, so you can get things back up and running in no time but without having to worry about the entire massive financial hit coming back to you.
A small electrical fault sparks a fire in your shop overnight, causing extensive damage to your fixtures, fittings, and stock. The cost to repair the structural damage, replace your inventory, and restore your shop to its former condition is overwhelming. Without insurance, this could be a financial disaster, forcing you to close your doors for good. But, with your combined contents and building insurance you can cover the costs and resume normal service in time, getting your doors open and customers through the door once again.
What Our Clients Think
John was amazing—friendly, patient, and full of great advice. He really took the time to understand our charity and made sure we got exactly the right insurance. Highly recommend East Yorkshire Insurance Brokers
Billy Dasein
East Marsh United
Sarah provided excellent service, taking the time to review our sums insured and ensure everything was accurate. She pointed out gaps in our cover we weren’t aware of and explained everything clearly. We feel much more confident now. Highly recommend East Yorkshire Insurance Brokers!
Connor Hewson
Assured Marketing
East Yorkshire Insurance Brokers have looked after our insurance for several years, and we’re always impressed by the great service they provide. They’re professional, reliable, and always find us a competitive deal. Couldn’t ask for better!
Jason Kay
H2MO Limited
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Meet Your Friendly Broker For Shop Insurance
Your Dedicated Insurance Broker
Meet John, our founder and MD, he’s a dedicated insurance broker who’s got years of experience insuring businesses in the retail sector. He understands the unique risks that come with running a shop, from public liability concerns to protecting your stock and premises. John takes the time to learn about your business, ensuring he finds the perfect cover for you. It doesn’t matter if you’re running a boutique, salon, or corner shop, John is committed to making sure your livelihood is protected. If you’re unsure what insurance your retail business needs, John is here to help – give him a call today and feel confident your shop is in safe hands.
What does shop insurance cover?
Shop insurance typically includes cover for public liability, employer’s liability (if you have staff), stock, contents, and sometimes your building. You can also add extras like business interruption, legal expenses, or cover for business equipment. It’s designed to protect your shop against risks like theft, damage, and liability claims.
What does shop insurance cover?
Is shop insurance mandatory?
Certain elements of shop insurance are legally required. For example, employers’ liability insurance is mandatory if you employ staff. While other types of cover, like public liability insurance, aren’t legally required, although they’re highly recommended to protect against costly claims and unforeseen events.
What insurance should a self employed builder have?
If you’re a sole trader you probably don’t have as much of a budget as a large construction company, and if your tools that are necessary to complete your job get damaged or stolen, this will be extremely expensive to replace. Contractors all risk insurance for sole traders will cover the cost of replacing these crucial tools, helping you avoid delays.
What insurance should a self employed builder have?
How much does shop insurance cost?
The cost of shop insurance depends on factors like your shop’s size, location, the type of goods you sell, and the level of coverage you need. Policies are tailored to each business, so it’s best to get a bespoke quote to find the right price for your needs.
Can I add business interruption insurance to my policy?
Yes! Business interruption insurance is a popular add-on for shop insurance. It covers lost income and additional expenses if your shop has to close temporarily due to events like fires, floods, or other insured incidents.
Can I add business interruption insurance to my policy?
Do I need shop insurance if I work from home?
If you run a retail business from home, such as selling handmade products, you may still need shop insurance. It can cover your stock, business equipment, and liability risks. Speak to a broker to find the right policy for your setup.