Gift Shop Insurance
Running a gift shop is a non-stop affair, so it’s perfectly understandable if insurance is the last thing on a long list of issues you need to think about but can’t quite find the time. The good news is that business insurance is not as complex a matter as many of us expect it to be. There are a couple of cover types you must have by law, and the rest are optional. However, many of the optional kinds are the ones business owners regularly feel relieved to have opted for. If you run a gift shop, you face a series of straightforward choices in terms of insurance cover.
The two main types of insurance your business must consider are employers’ liability and motor cover. If you run any vehicles for your gift shop business, you must of course insure these by law as you would for running personal vehicles. If you employ any staff to work in your shop, not just within the store itself but in any role within your business operation, this makes you an employer, and you must therefore have employers’ liability compulsory insurance cover.
You can protect your gift shop and stock using a tailored buildings and contents insurance policy. This should be designed to cover any stock you keep, particularly valuable if you stock high value gift items such as jewellery, ornaments or artworks. You can also include cover for equipment you use in the store, as well as the fixtures, fittings and furniture, for example items such as display cabinets or cases.
