Small Business Insurance for Shops and Retailers

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Compare Shop Insurance in Northern Ireland

Whilst the number of small shops in NI have been on a downward trend since the growth of the supermarkets chains, we still have many local shops providing  a service to the local community. If you own a shop in Northern Ireland, you may wish to consider taking out shop insurance to provide cover should damage occur. Whilst it may be questionable that Northern Ireland is still a nation of shopkeepers, a phrase attributed to Napoleon, we still have many shops. Think of the local butcher, chemist,  hairdresser, nail salon, paper shop, toy store, book shop, clothes retails shops and the list goes on and on. In other counties, they tend to have mage malls that house one store that will distribute all goods that any household will ever need. 

Online Shops

Insurance is available for traditional bricks and mortar and the ever increasing shops that have an online presence only.

What Can NI shop insurance cover both online and offline?

Most polices will consist of optional elements, as details below.

  • Buildings and Contents – This is also termed commercial buildings insurance and if you are letting the shop, check with the property owner as this may already be in place..
  • Public Liability Insurance – this protects against you from claims made by your customers or workers that are on your premises. Unfortunately, NI does have a high number of these type of claims, so this should be given serious consideration. If a claim were to be successful, it could ruin you financially.  
  • Employers' liability insurance If you employ staff, you are legally required to take out employer's liability insurance 
  • Business Interruption  – This like public liability is an option, but will provide you with an agreed income should the standard day to day running of your business be interrupted by an insured event.  
  • Cyber Theft Insurance : If you are storing valuable data, this may be stolen and may be held to ransom for its return. Without the data, you may not be able to continue with your online business. This type of theft is on the rise and the cyber criminal normally target large organisations.
  • Professional indemnity - If your business provide advice, then you may be liable if the advice given causes the client to lose out financially. Professional negligence insurance is a product that will provide you with cover in these circumstances

How much is shop insurance in Northern Ireland?

The price of NI shop insurance will depend largely on the amount of cover required and the perceived risk to the insurance provider. For example, insurance for a jewellery shop will work out more expensive than cover for a local newsagent or barber shop.  The insurance quotes that you receive will also take into account your history, have you a history of making claims. How much excess are you willing top accept. Accepting a higher excess should reduce your quote as you are accepting more risk.

Other Types of Cover to Consider

If you are in the beauty or food sector, you may wish to consider product liability cover. This protects you should the product you sell or apply causes damage or harm to a third party. An extreme example would be a hair growth product cause the customer lo actually lose hair. 

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