Protecting your off licence shop
Any retail business owner will appreciate the hard work, time and effort that goes into running a busy store. Off licence insurance must be a top priority to protect the business you’ve worked so hard to build to give you peace of mind to focus on running your business. But with so many options available it can be difficult to know what you need and what’s relevant to you specifically. So here’s a brief explanation of some of the key covers you should consider and examples of how the insurance we arrange could protect your business.
Off Licence Liability cover
Firstly and most importantly, the people around you; whether they are customers, suppliers, business partners or employees, it’s essential you make sure that anyone involved in your business is protected against accidents that may happen at work. Liability insurance is designed to take care of this for you.
Public liability cover protects members of the public from accidental injury or accidental damage to property caused by your business activities. This can include suppliers, customers and even your neighbours. Accidents happen when you least expect, and compensation claims along with medical expenses and legal costs can escalate quickly. Public liability can protect you against these claims should the worst happen protecting your financial exposure to accidents in the work place.
Similarly, employers’ liability is designed to protect your staff in similar circumstances. Should an employee fall down some stairs at work or drop something heavy on their foot sustaining an injury, you may be liable to pay compensation. As an employer you have a legal obligation to protect your staff in case something unfortunate happens; employers’ liability cover does exactly that.
Off Licence Property cover
So protecting those around you is a fundamental part of your off licence insurance. Next you should consider your property, from stock to contents to buildings and vehicles. As this will form a major part of your financial investment and without the right insurance in place the future of your business could be at risk. Fire, flood, theft and storm are all events that can happen when you least expect and cause devastation to your business. Protecting your assets against imminent threats is essential for your business continuity.
Off Licence Business interruption cover
So you’ve protected your liabilities and your property against the unexpected, but if the worst did happen and you were unable to trade, how would you cope financially? As part of your off licence insurance, business interruption insurance can protect your income should you claim for damage to property meaning you’re unable to open. This invaluable cover could be the financial security blanket that allows you to continue running the business you’ve worked so hard to build. Not only can it cover your fixed expenses such as wages and overheads, it could also help you trade temporarily from another premises while you get back on your feet.
Hassle-free off licence insurance
Arranging insurance for your off licence doesn’t have to be tricky or time consuming. All of these covers can typically be combined into one easy to buy off licence insurance package that can also include cover for business money, goods in transit, freezers contents and much more. So if you know what insurance cover you need simply go online to purchase or if you'd like some advice speak with one of our commercial insurance specialists who are on hand over the phone to advise you on the covers available and provide professional insurance recommendations that are tailored to you. Here at Premierline we work hard to find you the right cover at the right price, so you can focus on what really matters – running your business.