What level of stock cover do I need for a convenience store?

The level of stock cover you need depends on the maximum value of stock you hold at any one time. You should calculate the replacement cost of your stock at its highest point (typically before a busy period such as Christmas) and ensure your policy provides at least that level of cover. Underinsurance is a common problem for retailers, and it can result in a reduced claim settlement.

Does convenience store insurance cover shoplifting?

Shoplifting (theft by customers) is covered under most convenience store policies, subject to a policy excess. Some policies require evidence of CCTV or other security measures as a condition of cover. You should check the specific terms of your policy.

How much money cover do I need?

The level of money cover you need depends on the volume of cash you handle. It may be worth considering the maximum amount of cash you hold on the premises at any one time, as well as the amount you typically carry in transit to the bank. Policy limits for money cover vary between insurers, and you should ensure your policy provides adequate cover for your circumstances.

Is employers liability insurance compulsory for convenience stores?

Yes — if you employ any staff, including part-time and casual workers, employers liability insurance is a legal requirement. The minimum legal requirement is £5 million of cover. Failure to hold employers liability insurance is a criminal offence and can result in a fine of up to £2,500 per day.

Can I insure a convenience store that also sells alcohol?

Yes — convenience store policies can cover premises that hold a licence to sell alcohol. You should disclose your licence to the insurer when arranging cover. Some insurers specialise in licensed retail insurance, which may offer more comprehensive terms for stores where alcohol sales are a significant part of the business.

Convenience Store Insurance: A Complete UK Guide

Convenience store insurance covers the specific risks faced by corner shops and independent retailers, including stock, buildings, and public liability.