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Pet Shop
Insurance
Let's be
honest - insurance isn't always the most interesting of subjects to
talk and think about. But if you have a pet shop, without
appropriate pet shop insurance, you could be running the risk of your
business being wiped-out in a moment due to bad luck.
Once a disaster has struck is not usually the best time to start
thinking about whether or not you need insurance, so a few minutes
invested in advance is often highly advisable.
Risk - always present
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So, why do
you need insurance for a pet shop? You may feel that you and your
business are immune from bad luck and that feeling may last - right
up until your luck changes and a problem arises. The problem is that
your business involves a potent mixture of risk elements.
You have:
a business premises and customers or members of the public that use
it;
possibly animals of various forms on the premises;
possibly employees or helpers;
perhaps equipment such as PCs and heaters;
stock and equipment.
People can fall or be otherwise injured. Natural disasters can
strike at any time and your employees (in legal terms this may even
include unpaid helpers that are not on a formal contract of
employment) may sue you for compensation if they are injured while
carrying out tasks at your request.
The
effects
If you suffer a natural disaster to your premises (the external
buildings may need separate cover) then the costs of replacement
equipment etc may be very high. Similarly, if you are sued a court
may well award very high levels of damages to the injured party.
In both cases, you'll need to dig deep into your own finances to pay
unless you have pet shop insurance in place to help.
The solutions
There are various business insurance policies that can be packaged
together to provide you with the protection level you think most
appropriate. These may include:
· public liability insurance;
· employers' liability insurance;
· stock and equipment insurance.
The costs
The cost of pet shop insurance will vary depending upon the cover
you select. Typically it will be possible to construct a package to
meet your protection needs and within a budget that is affordable
for you.
Article by: T J Roberts
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