A mini-supermarket suffered a fire following an electrical fault in an overloaded circuit board. The entire shop was severely smoke damaged and all stock was lost.

Total claim for replacement contents, fixtures and fittings, stock and business interruption, which covered fixed costs and expenses and loss of profits whilst the business recovered from the loss, totalled in excess of £50k.

Whilst retailers insurance packages start from as little as £150 (plus insurance premium tax), each policy is individually tailored to your specific business requirements. 

Typically insurer premiums will be impacted by: 

• Location of the shop (including postal code)
• Type of business and goods being sold
• Sums insured (contents, stock etc.)
• Trading experience and previous claims history
• Sections of cover required

As with the items your business retails, quality will play a part in the cost of your policy. It is important to compare cover levels, sums insured and any insurer requirements, such as security or alarm requirements, to ensure that the cover is suitable for your individual needs. 

That is not to say that the most expensive policy will be the best either! – Utilise the skills and advice of a specialist insurance advisor such as Insync, they will help you find the right level of cover at the right price.