Shop Insurance Quote

What is shop insurance?

There is no single type of shop insurance. Rather, the term shop insurance is the name for a range of policies that can help cover you from a claim if something happens in your shop. This can range from someone being injured on your premises, or stock, fixtures and fittings getting lost, stolen, or damaged.

Your business could be held legally responsible if a customer is injured or their property is damaged in your shop. That’s why public liability insurance is often the foundation of a shop insurance policy. Most policies offer coverage of between £1 million and £10 million.

But the risk doesn’t stop once the customer has left the building. If a product purchased at your shop injures them or damages their property, you could also be liable, which is where product liability insurance comes in handy.

Employers’ liability insurance of at least £5 million is a legal requirement for any business with employees. If you have even one member of retail staff, who is not a family member and who doesn’t live abroad, this needs to be in place.

Contents cover, meanwhile, will help to replace anything from products broken by a clumsy customer on the shop floor to an employee’s misplaced phone.

And that’s not all. Commercial buildings insurance, business interruption insurance, and specific stock insurance can all be important considerations as a shopkeeper. You can shape your shop insurance policy around the exact needs of your retail business.

What does shop insurance cover?

Depending on what type of policies you opt for, shop insurance can cover a range of eventualities including unforeseen events, such as an injury or accident involving a staff member or customer, or your stock being damaged or lost.

What is usually included in shop insurance?

As well as the types of insurance – employer’s liability and public liability – discussed above, shop insurance policies can also include the following:

• contents cover
• professional indemnity insurance
• business interruption insurance
• product liability insurance
• stock insurance
• business buildings
• personal accident insurance

What isn’t usually included in shop insurance?

You can tailor your shop insurance policy to include exactly the type and level of cover you need to protect your particular business.

The only limitation you might run into is if you have unusually high value stock or contents that wouldn’t be covered by the standard amount in your policy. It is a good idea to speak to your insurance provider about your specific requirements.

If your employees go out on deliveries, you may also need specific business car insurance or goods in transit insurance for accidents involving a vehicle, as they won’t always be covered by your employers’ liability insurance.

How to choose the best shop insurance policy for you

While the individual types of cover available to you in a shop insurance policy will likely be similar across providers, it’s worth paying attention to the detail and asking yourself:

• Are the coverage limits high enough to protect your particular business from a claim?
• Does the policy include extra provisions for situations a shop is likely to encounter – for example, 24-hour glass replacement if your shop front window is shattered, or seasonal increases to cover periods like Christmas, when your business is carrying more stock?

Once you’re certain of your requirements, you can use NerdWallet’s comparison tool to find the best shop insurance policy for your business.

Click 'start your quote' and follow the step-by-step process, including letting us know:

• whether you are a sole trader, limited company or partnership
• your main business activity
• your estimated turnover in the next 12 months
• how many people work for your business

If you need any assistance with getting your quote, make sure to click on the headset icon at the top right of the widget.