What risks?
In your shops you may have members of the public coming and going. If any one of them is unfortunate enough to have an accident and sustain injury whilst on your premises, they may well turn to the courts and ask them to award damages against you. If they win, the damages could be very high depending upon the injury sustained. Even if they lose, you may have incurred significant legal and miscellaneous expenses in defending yourself.
You also perhaps have employees. If so, you are - in most cases - legally obliged to provide insurance to protect them if they are injured in the course of their work, via employers' liability insurance.
It's also a fair bet that you have a shop and possibly other business premises such as a warehouse etc. If they are hit by a natural disaster, you may run the risk of a loss of stock and other equipment and may have nowhere to conduct your business from.
This is not a comprehensive list - it is just a sample of some of the things that could go wrong in your business. That is why considering insurance for carpet shops can be so important.
If you have carpet shops insurance in place then typically you'll have financial backup and support in such circumstances - if you don't it will be your bank account that has to find the monies concerned.
Business insurance
Business insurance can typically provide the protection you require. It is a question of understanding your risks and the level of cover required, then purchasing the appropriate package of protection.
It's typically possible to find insurance against the following types of risk:
· public liability;
· product liability;
· stock and equipment cover;
· business interruption (where you are unable to trade for a period of time due to an insured risk occurring);
· premises (commercial buildings insurance is usually sold separately from a business insurance policy);
· professional indemnity insurance (not always required for shops but may be advisable if you provide design or cutting and home fitting services etc)
· employers' liability insurance.
In the case of employers' liability insurance, it may be worth keeping in mind that the law may hold you responsible for accidents and injuries to contract or temporary staff and even casual unpaid helpers in some situations.
Finding out more
There are really two ways you can find out more about carpet shops insurance. The first is to spend a few minutes researching it further. The second is to start doing so once you've experienced a problem and the huge costs that came with it. Perhaps the first approach will prove to be less painful!
Trevor J Roberts is the editor of Quote4shops, a new site aimed at providing access to some of the UK's best commercial shop insurance. If you are looking for carpet shops insurance then apply online or complete an enquiry form.
Article Source: http://EzineArticles.com/expert/Trevor_J_Roberts/533922
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