Shoe Shop Insurance
Anyone who runs a shop has plenty to keep them busy without having to worry about insurance cover as well. However, making sure your insurance needs are handled will not only let you comply with your legal obligations, it will also put your business in an excellent position to survive whatever gets thrown at it.
If you have a team of staff working in your shoe shop either in store or in any other administrative role, you as their employer are legally bound to taking out employers’ liability compulsory insurance cover. Any vehicles you use, for example to transport shoe stock around, must also be covered by a motor insurance policy.
Your store itself is one of the most vulnerable aspects of a shoe shop business, so a good buildings and contents policy is a vital asset. This should cover any shoe stock you keep within the premises, which may well be worth a lot of money, particularly if you stock designer or high end brands. Your buildings and contents policy should also include equipment within the store, whether computers or cash handling items, or perhaps equipment you use for managing footwear stock.
Any break in your business may be covered using business interruption insurance, which can be a real lifeline for small businesses in cases where some unexpected event causes operation of the business to halt temporarily. Any cash you have on the premises can also be covered using a money policy, taking care of any theft you experience.
