August 23, 2014

Opening a new shop? – don’t forget to take out the right insurance

When you are looking at starting up your business you need to make sure that you have completely assessed all of the possible things to look at; for example, checking for anything you may have missed out. You also need to make sure that you have looked into the different types of insurance that you may need to take out. These could include lots of different types; but you need to make sure you have covered them all. When you are looking to start up a shop, there are all sorts of different types of insurance that you may need. This could be anything from insuring your stock against damage or theft, to getting public liability insurance to make sure that any customers who may come into your shop are protected should they fall victim to an accident that could have been avoided.

There are many different types of shops that can be insured, in fact, nearly every single shop imaginable is able to be properly insured against anything bad that may happen to it. You need to make sure that you have properly looked at the types of insurance so that you can see what you are covered for and what you aren’t covered for. One of the things that you need to make sure you definitely have is cover against theft of your stock. For example, if during the night when you are close, some criminals break in and steal all of your goods, without any sort of insurance you would be left very out of pocket and would have no stock to open with either. Insurance against this would pay for the stock to be replaced and any other damages, such as broken windows or doors. This would help you get back on your feet and start making money from your shop again.

Some other types of insurance that you would need to take out for you shop are public liability insurance and employer’s liability insurance. These protect people against things that can happen in a shop. As an example, if one of the members of staff gets injured while at work, if they were to place a claim against the shop owner because they were not properly trained, or because there were no health and safety measures put in place, then the insurance would have to pay out compensation to the person who got injured. If there was no insurance there however, this would come directly from the employer themselves which would leave them very out of pocket and possibly lead them to close down the shop. If a member of the public comes in to the shop and gets injured inside, again because proper procedures have not been set in place and followed and an accident takes place, then they are able to place a claim against the shop owner. This again is what the shop insurance covers, and is very important to have when setting up a shop as your own business.

You can find out more at – they make life easier by shopping around for the best deal for you.

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