hello@prizmsolutions.co.uk
01827 313 931
What is Shop Insurance?
It covers your assets (computers, fixtures and fittings etc), your liabilities (public, products and employers) and earnings (future income) under a single packaged insurance policy.
What drives the premium for Shop insurance and how can I get it cheaper?
The main factors in Shop insurance are what you do and where you’re based.
Insurance companies have a massive database of claims for all types of trades in all parts of the UK, so they have a good idea what premium they need to charge you. Factors that can help bring the cost down usually relate to improving the security (approved alarm, CCTV, improved locks) at the premises.
What does Shop Insurance actually cover?
The basic policy will cover damage to your assets by a list of specified perils including fire, lightning, explosion, aircraft, riot, vandalism, storm, flood, burst pipes, impact, theft and subsidence.
It can also be extended (and we would always recommend this) to include accidental damage. That way, you’d be covered if, for example, someone spills gloss paint all over your stock or accidentally broke a machine by knocking it over.
Once the core cover has been triggered this will allow you to claim for loss of profits if you can’t trade.
It also covers Public Liability (in case someone enters your premises and slips on the floor), Employers Liability (as required by law, in case a staff member gets hurt in the course of their employment) and Products Liability (in case something you’ve sold hurts someone or causes damage to their property).
The policy will also often include damage to Glass, loss of Money, damage to Goods in Transit and can be extended to cover Terrorism damage.
How much does Shop insurance cost?
The cost of shop insurance depends on so many factors, but the main ones are what you do and where you are based.
Inner city businesses have a far higher chance of a claim than ones in rural locations, so that massively affects the premium. Likewise certain trades are far more likely to be the subject of theft claims, for example a sports equipment retailer is more likely to get broken in to than a cheesemongers.
Have a question?
Our team is
here to help!
One of our team will talk to you about your current circumstances in order to advise the best way forward. If you’d prefer to visit us at our offices in Tamworth, feel free to pop in! Just check our office hours on Google to make sure we’re open.
Insurance policies are only there to cover possibilities NOT probabilities, and global warming continues to cause water levels to rise. More and more insurers are looking to exclude flood damage in higher risk areas to protect their organisation and remain in business, but standalone specialist flood insurance is available in most cases. This might mean that, if you operate near water, you might have to buy two policies instead of one, but Prizm Solutions’ deals with over 100 different insurers for that very reason, so we can get you the best deal in terms of cover and price.
Yes. Even though you are working from home and not a bespoke commercial premises, your home insurance will NOT cover your business assets or stock, nor will it cover injuries or accidents to your staff or to business visitors in your home. If you are selling globally via Etsy or eBay, for example, you need to make sure your insurance provider knows you could be selling to the USA, as this a region where lawsuits can prove to be VERY expensive and your premium may need to be higher to cover the potentially increased claim costs.
Yes, if you have a financial interest in it. Otherwise the owner of the Building should insure it, as you cannot insure something in which you have no insurable interest.
Without shop insurance, whatever damage is caused to your property, you’ll have to pay for. Likewise, if someone gets injured on your premises or because of something you’ve sold them you’ll have to pay for that too, which could be REALLY expensive.
Should you need to make a claim, make Prizm Solutions your first port of call. As your broker, we are here to help. If your call is out of hours, all insurers operate 24/7 claims lines, and we’ll inform you of these when you take out the policy.
At Prizm, we primarily deal with Aviva, AXA, RSA, NIG, Lloyds Underwriters, Zurich, QBE, Allianz, Travelers, AIG, Covea, Jensten, MS Amlin, Victor, MI Commercial, Folgate, Ecclesiastical, Commercial Express and Arch although the companies offering this insurance may change as the market changes.
If you need to make a claim on your insurance, you need to call your insurance broker or insurance company straight away.
If you have a policy with Prizm Solutions, then you simply call us.
As your broker, we are here to help – and we will provide you with all the contact numbers you need to deal with a claim when you take out the policy.
Take a look at our real clients with honest reviews
View all reviews
Independent and friendly insurance brokers based in Tamworth and covering the UK
Let us help you find the right cover for you.
Prizm Solutions Limited
First Floor
The White House
16/20 Church Street
Tamworth
B79 7DH
Prizm Solutions Ltd are authorised and regulated by the Financial Conduct Authority.
Prizm Solutions Ltd are registered in England and Wales, Registration Number: 05936749, Registered Address: First Floor, The White House, 16/20 Church Street, Tamworth, B79 7DH.
TERMS & CONDITIONS | PRIVACY POLICY | © PRIZM SOLUTIONS LTD 2025. ALL RIGHTS RESERVED | DESIGN BY SWD
Connect with us
Fill in our enquiry form or pick up the phone and speak to one of our friendly, helpful team.
We’re here to assist you to put plans in place, to help provide you with some protection from those unexpected curveballs that can be a normal aspect of everyday life!
So, let us help you find the right cover for you.
01827 313 931
REQUEST A CALLBACK
hello@prizmsolutions.co.uk
