Ensuring fewer risks

The Retail Mutual advises checking cover after a refit

Being prepared for the unexpected is crucial for retailers, especially after a refit

REFURBISHING a store  causes a bit of organisational headache, but there is one key area that retailers shouldn’t forget about in the midst of a refit.

According to insurer The Retail Mutual, a store’s insurance cover should be reviewed any time changes are made, such as investing in new fixtures and hardware.

The firm said that if a retailer has increased their shelving capacity and plans to hold more stock, then they may wish to increase their stock cover limits to match the new value of the items they hold.

It also advised that if a store has invested in new display cabinets, then it is worth checking that fixtures and fittings cover limits are sufficient.

Similarly, if new electrical equipment has been installed, then The Retail Mutual recommend asking your insurer if there is any additional cover that might be needed.

And with ram raids on ATMs on the rise in recent years, the mutual also warned that retailers thinking of installing a cash machine should check whether they have specific cover for their shop front.

Some providers, such as The Retail Mutual, include fixed glass cover as standard with buildings cover.