If you run an independent shop full of gadgets and gizmos a-plenty, whozits and whatzits galore, then look no further for insuring your thingamabobs.
Below are a few things to look out for when arranging your Boutique Shop Insurance.
Do you have the correct stock limits?
Your stock can be seasonal and often changing in value dependent on the latest trend, calculate your maximum potential exposures and make sure that your stock sums insured is accurate. If you have seasonal increases just let your broker know so they can increase the stock values on a temporary basis.
Making your own products
If you make any of your own products ensure you have thought about your potential product liability and fully informed insurers of what you are making.
Sometimes your products are so unique that you get requests to send products abroad, if the products cause any damage or bodily injury then claims could be made against you, make sure you have fully disclosed the splits in your turnover by country.
Coffee & Cake
We are seeing an increasing trend of merging a café with a boutique shop allowing customers to enjoy a complete shopping experience and relaxing with a coffee and homemade cake after. Just be aware any coffee machines may need to be inspected on an annual basis and that you have informed insurers that you have a café in your shop. If you are serving hot food you may need additional covers in place dependent on your food preparation method.