Shop and Salon Insurance
In a challenging and competitive business environment, shops and salons have to ensure that they protect their assets as much as possible. Both online and in the ‘real world’, the sale of goods and services leaves retailers open to claims for personal injury and damage to property, as well as losses through damaged or stolen stock. They also need to consider protecting their assets and their financial stability against other issues, and so the most obvious way of doing this is through a comprehensive core and industry-specific insurance portfolio.
That’s where we can help. We’re called Business Insurance Service because that’s exactly what we do – we provide insurance services to businesses up and down the country. From sole traders to multi-national corporations, garden centres to hairdressers, we aim to bring our customers the best insurance policies that are designed for the challenges and demands of 21st-century businesses.
Who needs shop or salon insurance?
Our commercial risk insurance for salons and retail shops are generally all-inclusive packaged products and designed to offer risk-based insurance cover for everyone from individual traders to large organisations such as shopping centres and retail parks. We include a huge range of businesses as diverse as:
- Off Licences
- Beauty salons and hairdressers
- Clothing retailers
- Garden Centres
- Toy shops
- Shopping Centres
- Retail parks and ‘factory outlets’
What insurance do I need for a shop or salon?
This is an important part of our job as brokers, and is our process of determining exactly how much insurance your business needs. When putting together an insurance portfolio for our shop and retail customers, we look at:
- Property exposure – examining how susceptible the business is to theft, security measures, and potential damage to property.
- Premises liability – is the shop or retail outlet a generally safe place for customers, or are there additional hazards such as escalators and stairs, balconies, or limited access to exit points?
- The type of product sold – whereas a clothing store sells products that represent a fairly low risk to end-users, a shop selling specialist skincare ranges or cosmetics may be susceptible to personal injury claims as a result of allergic reactions to the products.
We also look at factors such as the location of the business, how much stock is stored on the premises, the layout of the store, and any additional possible influences that could constitute an insurance risk.
For retail shops and salons, your core insurance should include:
These essential elements of any insurance package and should form the framework of your portfolio, regardless of size. These apply to everyone, from independent sole traders or large, multi-unit retail centres.
Your optional extras should include cover for elements of your business you believe may be vulnerable, such as:
- Cybercrime and computer fraud (especially if you have a large online presence as part of your business model)
- Employee dishonesty cover – which protects you financially against the actions of dishonest employees
- Product liability
- Excess Liability – this can help to cover you against anything that is not covered in your standard insurance such as terrorist acts
- Business interruption insurance
- Buildings and contents cover
How Business Insurance Service can help you
At Business Insurance Service, we’ll take you through the insurance cover you need for your business, and just as importantly, point out if there’s additional cover that you don’t need. We aim to provide you with the best possible salon or shop insurance at a fair price that gives you effective cover against the most likely risks and hazards, and some potential challenges that you may not have even considered.
Our trained commercial insurance brokers are independent, impartial, and will not ‘hard sell’ you into an insurance policy you don’t need. Instead, we’ll work with you to create a portfolio that gives you peace of mind, the right level of insurance protection, and the ability to future-proof your businesses against potential challenges further down the line.