Industry sector: Retail and wholesale

Off-licence: Insurance

When you start up in business you will need insurance cover. Contact an insurer insurer and explain how your business will operate. They will then be able to recommend what cover you should have, which might include:

  • employer's liability
  • public liability
  • premises, premises contents and stock (including major breakages)
  • plate glass window breakage
  • loss or suspension of licence
  • goods in transit (for example on the way back from a cash and carry)
  • cash and Lottery scratch cards
  • business interruption
  • legal expenses
  • motor insurance (for business vehicles)

The insurance company is likely to want full details of the security measures you will put in place before they agree to provide cover.

Premiums may be paid in a lump or they may be paid in instalments. Your insurer will be able to advise you of the amounts due - enter them in the months when you will pay them.

Some trade associations offer their members discounted rates on business insurance and specialist insurance packages tailored to the needs of the industry.