Business Insurance In the Festive Season

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The festive season brings a lot of cheer to the day-to-day running of your business but it also brings with it a host of increased risks. This is especially true for those in the retail sector with managing supplies and the hiring of additional staff members. Does your business insurance cover these risks?

 

  1. An Increase in Shoplifting

Stores have reported as much as a 6% increase in shoplifting over the Christmas period.

 

  1. In store Accidents

With more people visiting retail stores this means there is an increased chance of someone having an accident at your store. Last year there were over 80 000 store related injuries of cuts, falls and burns during this time.

 

  1. Increased Fire Risk

Those candles and fairy lights look beautiful but they up your risk of accidental fires exponentially. There are over 2000 fires over Christmas for this reason.

 

  1. Rise in Vandalism

The festive season can give some the urge to spontaneously damage or vandalise stores and store fronts. If your store is easily accessible to the public (not contained within a mall) or trading late at night it is particularly vulnerable.

 

  1. Increased Stock

To accommodate for the extra customers, you’ve more than likely brought in additional stock. This not only puts you at greater risk for robbery but your stock is now vulnerable to the same risks that your general level of stock would usually have.

 

Make sure that your business is covered during this time and that you keep your broker informed of the additional stock you have brought in that is at risk. By keeping your business insurance up to date, you can be sure to have a merry Christmas season. Contact CC&A Insurance Brokers today to find our about our various commercial insurance options such as: Business Interruption insurance, office contents insurance, goods in transit insurance and much more.

 

“The article should not be considered legal or financial advice and is for information purposes only. You should consult with a professional financial advisor to determine what may be best for your individual needs.”