Why do bookshops and sellers need insurance?
Customer trips on a bookshop ladder
You’ve just received a batch of brand-new stock and you’re working on putting everything in its rightful place on your shelves. Of course, you need to bring out your ladder to reach the very top. Unfortunately, a customer trips over the ladder and falls, resulting in a broken wrist. Accidents happen, but the customer decides to claim for their injury. In this case, public liability insurance could help to cover the compensation costs and legal fees.
Flood in your storeroom
It’s coming up to the festive season, which means your storeroom is filled with extra stock. Of course, with the winter weather comes a lot of rain and, after one particularly bad night, you come to work to find your storeroom flooded. Your books are ruined and they couldn’t possibly be put on the shelves. This is where business contents insurance could help. This policy can cover the costs for replacing any damaged stock, so you’re ready to resume trading.
Shop assistant injury
One of your booksellers was restocking the shop when a bookshelf toppled over and hit them, causing concussion. They’re fine, but they do decide to claim for their injury. Employers’ liability insurance can cover you for any legal fees and compensation you might face as a result. In most cases, having this cover is a legal requirement for businesses (external link)in the UK.
What insurance is available for bookshops?
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Insurance for bookshops and sellers: FAQs
How much does bookshop business insurance cost?
The price of bookshop business insurance depends on a few factors, including which covers you want to include in your policy and the size of your business. Because of this, often the price you pay will be tailored especially to the insurance policy you build. We will give you a quote before you sign up for your policy, which can start from around £8.40 per month*.
*Figures based on an average of all business insurance policies sold to at least 10% of our customer base between October 2022 and September 2023
Are my books covered for theft and damage?
If you add the relevant cover to your bookshop business insurance policy, then yes. At Hiscox, you can tailor your cover to suit your needs. So, if you add business contents insurance to your policy, the cost to replace or repair your books in the event of theft or damage can be covered.
There are also other insurance options, such as portable equipment insurance, which covers theft and damage to items such as laptops while you’re out and about.
Related articles and guides
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Find out what you need to know about health and safety law and how it affects your business in our useful guide.
How to price a product or serviceRead our guide on pricing products and services to explore the different pricing methods your bookshop could use. See what mode works best for your business.
What is business insurance?
Learn the ins and outs of business insurance, how it works, and what you could be covered for. Explore the different types of business insurance.