Business insurance for Shop owners

You’re proud of your retail business and you’ve put a lot of time and effort into making it work. But no matter how careful you are, there are some things you can’t control. Whether you’re running a large chain, a small group or your business is concentrated on one shop, insurance that covers you for a range of risks could make all the difference if something goes wrong.

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Insuring your retail business

As a shop owner you know customers only see the tip of the iceberg – from your suppliers to your website and marketing, there’s a lot to take care of. Normally things run smoothly, but it doesn’t mean mistakes won’t happen, whether they’re yours or someone else’s. Even if an employee or supplier is to blame, you could be held liable. Hiscox can help you prepare for the unexpected with a retail insurance package tailored to the specific risks shopkeepers face.

Why shop owners need business insurance

Illness and injury

Someone might slip on an item of clothing on your shop floor and injure themselves, or a customer could have an allergic reaction to a wrongly labelled chocolate bar bought on your premises. Even if you’re personally not at fault, you could face a liability claim. Hiscox will cover both the legal and compensation costs of defending or settling it.

Cyber crime

Whether you’re an online retailer or you just use computers for managing orders, one malicious cyber attack can seriously disrupt your business. A hacker could block your ecommerce site or wreak havoc with your suppliers leading to lost revenue. Whatever the nature of the attack, Hiscox will cover the cost and provide expert advice to get you through it.

Loss of stock

Dealing with a major incident is emotionally draining and it’s a real headache for your business too, but floods, fires and robberies do happen, even if you’ve taken the right precautions. If you find yourself in one of these situations it’s always going to be tough, but we’ll be there to cover the financial cost to your business.

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If you’re not sure what you need, tell us a little more about your retail business. We’ll help you to build your quote and explore any other insurance needs.

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Key types of insurance for the retail industry

Public liability insurance

Public liability insurance is there to protect you if a customer or a member of the public claims they’ve been injured or fallen ill as a result of you, your employees, your products or services. It could be something you’ve sold to them, or it could be a slip, trip or fall takes place on your premises. It can happen in seconds, but the consequences could be expensive and stressful. We’ll be there to help with the legal and compensation costs of the claim. Both public liability and product liability insurance will help you with the costs of compensation and the legal expenses of the claims process.

Learn more about public liability insurance


Personal accident insurance

Running your own business has many perks but if you’re out of action for a while, you’ll feel it financially. Not being able to do your job or having to work reduced hours for a while can mean you lose money and end up with disappointed clients. Whether you’re out of action for an afternoon or a fortnight, you need to have plans in place to make sure the business can keep ticking over while you’re away. Personal accident insurance makes sure your expenses are covered so you can concentrate on getting better.

Learn more about personal accident insurance

Cyber and data insurance

Increasingly, digital is part of the retail industry, whether you’re fully online or you have physical shops too. Even if you’re a bricks and mortar outfit only, you’re likely to use mailing lists, loyalty schemes and online payments to run your business. Losing or accidentally sharing data can be expensive and embarrassing, but a cyber attack could mean serious disruption. We’ll provide the expertise and cover to help you deal with it quickly.

Learn more about cyber and data insurance


Contents insurance

You’re insured in the event of a break-in and if your equipment or your stock is stolen or damaged, we’ll cover any loss of productivity and pay the costs for replacements, so you can get back in business with minimum disruption.

Learn more about contents insurance


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These are just some of the types of business insurance for shops that we can offer. We can provide other specific types of cover and build them into a policy that’s tailored to the exact needs of your business.

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Coopers Planning Ltd