Just a moment’s thought, however, will prompt the rather depressing realisation that there is a lot to insure. Not only is there all the stock, equipment and fittings in the shop, there is a whole range of potential liabilities against which customers, members of the public and employees could claim. In the event of the worst happening and your needing to make a claim, you are also likely to want some reassurance that there is no financial loss through the interruption in running the business itself.

Fortunately, many insurers offer a comprehensive shop insurance package, ensuring that most, if not all, of your insurance requirements can be kept together under the one policy. Policies differ, of course, so it could prove worthwhile seeking the advice of an independent insurance adviser to identify the right package for your own business at the most competitive rate.

Although the required cover will naturally depend on the type of shop you are running, its size, its location and whether you employ people other than immediate members of the family, as a general rule, most shop insurance packages will include the following headings:

Public liability – to cover you against claims from customers or members of the public who suffer loss or damage to their property or personal injury whilst shopping with you if you are at fault;

Product liability – to indemnify you against claims that goods your shop has provided have caused the customer some loss or damage;

Contents insurance – to insure your stock and equipment – and of course cash – against accidental damage, theft, fire and other risks;

Employers’ liability – cover that is essential if you employ staff and necessary to cover against injury to staff while working in your shop or for illnesses they might have contracted as a result of working there;

Business interruption – to ensure that you are covered for any financial losses following the shop’s closure in order to deal with accidents and emergencies.

Buildings insurance – in addition, many varieties of shop insurance will also cover the building fabric of the shop premises themselves. Clearly, this is especially important if you own the premises, but even if they are rented from a landlord it is important to establish that sufficient cover is in place. It is also worth noting that even in the case of a tenanted shop, the tenant often remains responsible for the shop-front itself.