Why does a shop or wholesaler need insurance?
You may be ready to re-open your business now that the COVID-19 lockdown is easing. Before you open your doors, remember to speak with your insurance broker to ensure you have the right cover in place and reinstate any cover put ‘on hold’ or reduced while you were closed. There are now also many other considerations when considering protecting your business and your customers. So, we’ve pulled together this Re-opening Retail Checklist, which will hopefully help guide you.
Insurance is there should the unexpected happen – and all sorts of things can go wrong: burst pipes, injured employees, computer hacks, faulty goods, thefts. Insurance will help cover financial losses and defend legal disputes to ensure that disruption and losses to your business are minimised when things go wrong.
There is no fixed answer as to what kind of insurance a retailer or wholesaler will need, as no two businesses are alike. However, most will require some basic level of cover (as shown). We can provide all sorts of additional covers to help tailor your insurance coverage to meet the needs of your business, such as cyber liability, management liability, personal accident, goods in transit, trade credit, private medical, and more.
We also work closely with our sister company, Sutcliffe & Co. Insurance Brokers. With our sports insurance knowledge and their commercial insurance experience, we can help find you the right coverage.
What insurance do I need to consider?
Every club, organisation, and race is unique, so no ‘one size fits all’ insurance plan or solution exists. Aside from leisure & outdoor retailers & wholesalers insurance, there are some other recommended insurance options for your club, such as:
Public Liability
Personal Accident
Cyber Insurance
Legal Expenses
Kit & equipment
Employers Liability
Event Cancellation
Sports travel insurance
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For almost 20 years insurance premiums in the sport & leisure sectors have been stable or even getting cheaper. However, in recent months the market has hardened to the extent that some policyholders are seeing their premiums double, treble or even almost impossible to obtain cover.
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Interested in Mann Broadbent’s Leisure & Outdoor Retailers & Wholesalers Insurance?
Get in touch with us and see how we can assist your leisure & outdoor retailers & wholesalers insurance needs.
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