Insurance for Retail Business

Retail merchant needs insurance to protect themselves and their business since they face various risks including fire, riot, theft, and liability claims. Without insurance coverage, these unexpected events can result in significant financial losses, impacting the store’s ability to operate and maintain profitability.
o For example, if the store was burned down, it could lead to a huge loss of inventory and valuable items. Having the right insurance coverage can protect your business from risks and provide financial support in case of losses or damages. It also can help cover legal costs if a customer gets injured or falls ill due to your product or services.
o With the right insurance coverage, retail store owners can have peace of mind, knowing that their shop and goods are protected.

Should there be any unforeseen accidents such as fire or flood, with selected coverage retail merchant operators are able to claim their sum insured limit for the damages in the premise, damages to their machinery such as laundry machine, display shelves, and their stock and inventories such as detergent, snack.

With every business, there are different risks involved. Whether or not the business owners have identified these risks or outsourced them, these risks exist. A business owner can choose to self-insure which may set back their capital or obtaining the right insurance coverage could benefit them and their business.

Fire, machinery, and stock/inventories are key coverage to consider. We would also recommend burglary, money as well as the plate glass, signboard, and signage coverage. Do consider adding additional special perils should your insured location be exposed to riots, floods, storms, explosions, or/and landslides.

Yes, please contact us at our call center to obtain an endorsement should you require to add on any coverages as your business grows and its risks change.