Most business insurance companies in the UK, have packaged policies for different types of trade. When we say packaged, this is similar to your car insurance. A car policy has a package that can include the vehicle itself against damage, the contents of the vehicle against theft, the windscreen and third party liability if you hit someone else.
Businesses are the same, you will have a package that covers the assets and stock, including buildings, liabilities, money, legal expenses etc. Some insurers have had these packages in a similar guise for years. One of these is retail insurance, or shop insurance. For the last forty or fifty years the policies have not changed dramatically with the one main point about them is that insurers only want to insure “traditional” shops. But, the retail world has evolved and embraced the Internet more so than many other industries.
A good percentage of retailers do not have a shop, with a glass frontage, and a serving area for customers. Those that operate as internet retailers tend to trade from either home, an office (with a fulfilment house supporting them) or an industrial estate.
Some insurers feel that they represent not only different, but increased, risks of loss. There are only two areas we can really see this having an affect. One is that they may be on an industrial estate which will be empty at night and weekends and the other is that if there are problems with phone/broadband lines, they could have an interruption to their business. Aside from this, the risks are much better. You do not have windows to smash, the security tends to be better, the stock is more secure, you do not have customers coming in and a whole host of other reasons.
If you are finding it difficult to get a competitive policy from the various “quote comparison” sites, call a broker and speak to a human being about your insurance. You will be amazed at what sort of deal they can get for you.