Stock up on cover this Christmas

In the run up to the festive season, shops and salons up and down the country will be stocking up in readiness for the Christmas rush. Beauticians will be doubling up their beauty treatment orders to make certain everyone is looking gorgeous for their office parties! 

With Christmas drawing ever closer, it’s important for businesses holding stock to make sure their inflated inventory is covered should anything happen.

With all the added pressure and preparation this time of year brings to many businesses, how many will stop to think about what will happen in the worst case scenario? Should the unfortunate circumstance of a claim arise, be it for a fire at the premises or a break in, will any additional stock be covered? The festive season is one of the busiest times of year and has the potential for big takings. But no stock means no customers, no customers means no income – which could really put you on the back foot for the coming year of trade.

How do we make this one less worry?

Simply taking five minutes to read your policy documents could put your mind at rest, as some insurers include a seasonal uplift to allow for some extra stock as standard during December. Alternatively your insurer should be able to increase your cover if you let them know how much extra stock you have. Many insurers will only pay out part or none of your claim if you don’t have enough cover so it’s worth updating your policy even if there is a charge.

While you’re there, see if you have Business Interruption Cover which can help you maintain your income for periods where a claim means you are unable to trade.

If you are in any doubt over what you are and aren't covered for, and after checking your documentation are still confused, our FAQ section may come in handy. Still need a hand? Give us a call, and we can help get to the bottom of it for you. Then everyone can have a very Merry Christmas!

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