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Carpet Shop
Insurance
Having
carpet shops insurance might well be essential - unless you enjoy living
dangerously and gambling with the future of your carpet business. That's
because running any business involves risk
What risks?
In your shops you may have members of the public coming and going.
If any one of them is unfortunate enough to have an accident and
sustain injury whilst on your premises, they may well turn to the
courts and ask them to award damages against you. If they win, the
damages could be very high depending upon the injury sustained. Even
if they lose, you may have incurred significant legal and
miscellaneous expenses in defending yourself.
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You also
perhaps have employees. If so, you are - in most cases - legally
obliged to provide insurance to protect them if they are injured in
the course of their work, via employers' liability insurance.
It's also a fair bet that you have a shop and possibly other
business premises such as a warehouse etc. If they are hit by a
natural disaster, you may run the risk of a loss of stock and other
equipment and may have nowhere to conduct your business from.
This is not a comprehensive list - it is just a sample of some of
the things that could go wrong in your business. That is why
considering insurance for carpet shops can be so important.
If you have
carpet shops insurance in place then typically you'll have financial
backup and support in such circumstances - if you don't it will be
your bank account that has to find the monies concerned.
Business insurance
Business insurance can typically provide the protection you require.
It is a question of understanding your risks and the level of cover
required, then purchasing the appropriate package of protection.
It's typically possible to find insurance against the following
types of risk:
· public liability;
· product liability;
· stock and equipment cover;
· business interruption (where you are unable to trade for a period
of time due to an insured risk occurring);
· premises (commercial buildings insurance is usually sold
separately from a business insurance policy);
· professional indemnity insurance (not always required for shops
but may be advisable if you provide design or cutting and home
fitting services etc)
· employers' liability insurance.
In the case of employers' liability insurance, it may be worth
keeping in mind that the law may hold you responsible for accidents
and injuries to contract or temporary staff and even casual unpaid
helpers in some situations
Article by: T J Roberts
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