Business Insurance Wrapped up This Christmas

By SME Insurance

Posted 15/10/15

With Christmas around the corner it is time to start thinking about how you can keep your business running as smoothly as possible over the busy festive period. No one wants their Christmas spirit dampened by a mishap during possibly the busiest time of the year, whether it be at the hands of crime, weather or an accident on your premises.

According to the Association of British Insurers (ABI), the insured bill for the damage caused by the storms and flooding over the Christmas 2013 and New Year period cost £426 million. Between 23 December 2013 and 8 January 2014 insurers dealt with 174,000 claims for damage to homes, businesses and cars. These figures highlight the importance of a comprehensive business insurance policy, from an insurer you can trust.

If you are planning a well earned rest over the holiday period and are closing your business for longer than usual, you may need to inform your insurer. Typically, an insurer will need to know if your business will be closed for more than 30 days. You should also ensure your windows and doors are locked and that your locks meet the minimum security requirements detailed in the terms and conditions of your policy. Also ensure that you don’t forget to set your security alarm system before you jet off!

Crime isn’t the only risk to think about during the celebratory period, especially if the weather takes a turn for the worse. There are a few things to consider that can help minimise the risks of damage to your business:

  • Check that all water pipes (both inside and out) and storage tanks are properly insulated so that they don’t freeze as the weather gets colder.
  • Make sure you know where the stopcock is should you need to turn the water off if a pipe bursts.
  • If you are shutting your business for any period of time, ask someone to call in and check on the premises and make sure they remove post from the letter box.
  • Consider leaving the heating on a timer on a low setting, so that it comes on in the morning and evening.
  • Make sure all electrical appliances that can be switched off, are switched off.
  • It is also worth moving any stock off the floor onto pallets or racking.

 During the season of joy and goodwill, follow our tips and ensure you have a comprehensive insurance policy in place, so that you are covered in case of any festive mishaps:

  • Will you be transforming your shop into a winter wonderland? Christmas decorations will show your customers you are in the celebratory mood but all those fairy lights and electrical wires may pose a fire risk and asking staff to decorate the Christmas tree could be an accident waiting to happen.
  • Buying new fairy lights each year will help ensure they meet the latest safety requirements. A broken bulb or loose connection may be all that is needed to start a fire.
  • Pine needles from your tree may scatter across the floor, creating a slip or trip risk to your customers and small children, therefore it may be better to opt for an artificial tree.
  • If you are displaying cards from your customers, make sure they are away from any heat source and any light fittings.

If you are looking for business insurance that aims to provide value for money, why not give SME Insurance a call?

Source: https://www.abi.org.uk/News/News-releases/2014/01/Insurance-bill-for-storm-and-flood-damage-over-Christmas-2013-and-New-Year-period-set-to-cost-426m

Posted 15/10/15

Author: SME Insurance

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Fullers Bakery has used SMEi for the last 3 years for both business premises and motor insurance. The changeover from our previous insurers was seamless and efficient with queries and special requirements all handled very professionally. We have just entered our third year of cover with CBAIS and based on the previous two years, we look forward to a continued healthy working relationship well into the future.

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