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Gift Shop Insurance

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Why do you need gift shop insurance?

Almost every shopping centre in the United Kingdom has a card and gift shop. For those who need a last-minute present for a friend, relative, or loved one, these shops are a great option.

If you run a gift store, you’ve probably put a lot of money and time into it. Make sure you get business insurance coverage to protect your investment.

Why do gift shops require insurance?

gift shop in the UK

There are shops that sell gifts, souvenirs, and greeting cards all over the world. You can find them in shopping centres, tourist spots, and even hotels. When it comes to picking up last-minute gifts, your business is the best option. It’s possible that anything can go wrong in your shop because it has different kinds of treasures.

Risks and exposures at a gift shop

Premises liability exposure

Slips and falls which happen on premises that are open to the public are a risk for premises liability. Aisles must be wide enough, clean, and free of trash. The floor should be in good shape, with no damaged or worn patches on the carpet and also no holes or cracks.

If there is a power breakdown, there should be sufficient exits that are well-marked and equipped with backup lights. Visitors should be able to reach all of the objects on the shelf, so they don’t accidentally drop them on themselves.

Personal injury exposures

Shoplifters can cause personal injuries when they are caught and held. To prevent shoplifting, all workers must be aware of and follow company policies and procedures.

Products liability exposure

Unless a product is imported directly, the risk of product liability is usually negligible. Foreign-made goods should be supplied by domestic wholesalers. Every direct importer must be regarded as a product manufacturer.

Workers’ compensation risks

Workers’ compensation risks include lifting, slipping, and getting cuts by broken glass. Safety equipment, suitable handling procedures, and transporting systems should be made accessible to workers to help them move big loads safely.

For storage, make sure the shelves are conveniently accessible. Employees should get training on how to respond to a specific situation.

Property exposures

The risks to the property are low because the only things that can start a fire are electrical wiring and HVAC systems. The stock is somewhat prone to damage from smoke, fire, and water, and it can also be flammable. Stealing high-value things can be a problem.

There must be physical barriers to keep people out of the building after hours and a burglar alarm.

Crime exposures

Crime risks come from dishonest employees and the robbery of money and assets through a holdup or a break-in to a safe. All employees who handle money should have their pasts checked.

The money in the cash drawers should be taken out regularly and put somewhere else, preferably in a locker on the premises. It is important to make bank drops throughout the day in order to avoid a cash buildup.

Business vehicle exposure

Business vehicle exposure is typically restricted to hired and non-owned liability for staff members running errands. If shipping services are offered, anybody who drives an insured truck or car should have a valid driving license.

What is included with gift shop insurance?

The following are typical coverages that you may wish to add to your gift store insurance policy:

Buildings and contents insurance

Damage can come in many shapes and sizes. If a tree fell on your gift store during a thunderstorm and broke one of the walls, could you pay to fix it? In the event of destruction or damage to your property or its contents, building and contents insurance can cover the costs.

Business income insurance

When a disaster damages your gift store to a great extent, you may be forced to stop operations until the damage has been repaired. A business income insurance policy is a financial safety plan that can give you with short-term financial support in the event of a loss of income.

Employer’s liability insurance

Employer’s liability insurance is a legal necessity for every gift business that employs workers. This cover can secure you from having to pay for legal expenses and compensation if a worker sues you because they got sick or hurt at work.

Public liability insurance

If your gift shop is open to the general public, you should carry public liability insurance in the event that someone is injured or his property is damaged in your gift store.

Stock Insurance

Most gift shops have a lot of items for sale. Stock insurance pays for the expense of replacing stock that is destroyed, stolen, or damaged. It’s crucial to know that the claim amount will cover the cost of replacing your gift store’s stock, not the suggested retail price.

Exclusions from the gift shop insurance

Following are some claims that are not covered by the gift shop insurance:


Abuse means that an insurance company won’t pay for any claim that comes from real or accused verbal, mental, or sexual assault, rape, assault, or violence.

Dishonest/willful actions

Acts that are dishonest or done on purpose won’t be covered by insurance. This includes acts that are unfair, fraudulent, or illegal.

Drugs and Alcohol

This means that insurance claims related to alcohol, illicit drugs, narcotics, or other illegal substances are not covered.

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