Shops and Restaurants Insurance

We understand the financial impact that Covid-19 is having on individuals and businesses across the country. A question you may be asking is:

‘As a result of Covid-19 what happens if I can’t afford to pay for my policy?’

Most of our Commercial and Retail Insurance policies are arranged via insurance brokers/MGAs, so in the first instance please contact your broker/MGA to discuss your needs and what assistance may be available.

If you have a direct debit under a Regulated Credit Agreement with New India Assurance and need our assistance please contact us on 01473 233626 between 9 am to 5pm Monday to Friday (excluding Bank Holidays).

Our standard policy includes cover for;

• Contents and Stock including cigarettes, tobacco, wines and spirits
• Seasonal Stock Increase of 25% for November and December and for 30 days preceding Easter Day
• Accidental Damage to underground pipes, services and cables
• Replacement of locks at the property following theft of keys up to £500
• Loss of metered water up to £5,000
• Breakage of fixed glass, sanitaryware and signs
• Loss of Income and Additional Expenditure – standard limit of £600,000 with 24 months maximum Indemnity Period, with option to increase.
• Extensions include loss of income due to Denial of Access, Accidental Failure of public utilities, Notifiable Diseases, Defective Sanitation, Vermin or Pests and Murder or Suicide.
• Book debts where accounts records are destroyed
• Loss of Money whilst on the premises or in transit, including damage to any safe on the premises arising from theft
• Cover for bodily injury sustained directly as a result of assault or violence in connection with theft
• Public and Products Liability £2,000,000
• Employers Liability £10,000,000

Further options available to include cover for;

• Damage to Buildings including Debris Removal costs and Architects and Surveyors Fees
• Costs and expenses incurred in locating the source of any damage caused by Escape of Water or Oil up to £5,000
• Deterioration of frozen and chilled Stock following breakdown of refrigeration equipment up to £5,000
• Reduction in the value of the business following loss of licence up to £100,000
• All Risks cover on specified items of Business Equipment
• Loss or damage to Goods in Transit (including whilst loading and unloading) up to £10,000
• Loss of money or other property following dishonesty of employees up to £10,000
• Legal Costs and Expenses relating to Employment Disputes, Employment Compensation Awards, Tax Protection, Property Disputes, Tenancy Protection, Compliance and Regulation, Directors Protection, Statutory Licence Protection and Contract & Debt Recovery.

Suitable Risks;

• Retail Shops, including;
  • Grocer / Convenience Store / Supermarket
  • Newsagent / Confectioners
  • Off Licence
  • Clothing / Footwear Retail
  • Bakers / Butchers / Delicatessen
  • Bookmakers
  • Card and Gift Retail
  • DIY / Hardware Retail
  • Electrical Goods Retail
  • Florist
  • Opticians
  • Stationers / Office Equipment Retail
  • Café / Tea Room/ Sandwich Bar
  • Restaurant
  • Cooked Food Takeaway

Positive Features;

• Low claims frequency
• Trading history and experience
• Superior security features
• Overnight occupancy
• Low flood risk
• Low Subsidence risk

Unacceptable Features;

• Non-Standard Construction
• Unoccupied risks
• Unspent Criminal Convictions
• Previous Liquidation / Bankruptcy / CVA

Unacceptable Trades;

• Sale of second hand goods
• Hairdressers / Beauty Salons
• Launderette / Dry Cleaners
• Jewellers
• Garden Centres
• Cycle Dealers
• Market Halls / Kiosks
• Pawnbrokers
• Petrol Stations
• Tattooist / Body Piercing Studios