Whether you are a shop on the high street or an online retailer, every business is different, and this is why finding the right insurance cover is vital.

From initial design to manufacturing and distribution, we identify the specific risks that your business could face and advise you on the most effective insurance policy.

Being a retailer puts you in a position where risks are forever changing when it comes to customers, employees, suppliers and even your brand/reputation.

Disruption comes in many forms

There are a wide range of risks that can occur while running a business in the retail sector.

Physical risks can occur at distribution centres, warehouses and shops, but this risk also extends to include suppliers/manufacturers of the product and even your customers.

Trading online brings further risks, with items being lost in delivery, GDPR regulations regarding the data held and the increasingly common potential exposure to cyber crime and fraud.

Not every situation can be managed, which is why having the correct insurance for your business is important should the worst outcome occur.

What could my business need?

With the help of our experienced advisors, we will guide you to choose the right policies to suit your business needs.

This may include:

Products Liability Insurance:

What happens if the product injures someone or damages third-party property? Having adequate Products Liability cover is important it an increasingly litigious society.

Public Liability Insurance:

You never quite know what could happen on your premises. Public Liability ensures you are covered if a member of the public is accidentally injured while visiting your establishment.

Employer’s Liability Insurance:

It is a legal requirement for any business with staff or contractors to take out employer’s liability insurance. This will cover you for any claims from staff who may develop health issues or suffer an injury while in employment.

Contents Cover:

The products you have on display or in stock are essential to your business. Incidents such as criminal damage, theft or even flooding can not only cause disruption, but the wrong cover could cause you to pay to replace your stock, equipment or furniture.

Business Interruption:

If you’re unable to open your business as a result of a fire, flood or any other form of unexpected incident, having the correct Business Interruption cover can provide you with peace of mind during a time when heavy losses could occur, while you work on getting your shop ready to open once again.

Other Insurances to consider:

It is good to insure your own premises, but what happens if there is a fire at your suppliers’ and the products can’t be manufactured? Or you have to recall your products after a defect is discovered. What about inadvertently infringing on the design of another company’s product?

These are all questions that need addressing and insurance policies can be tailored to suit your business.

To find out more and to discuss your needs, please contact us on 01274 515 747 or email us at mail@lwood.co.uk