Small Business Retail Insurance

Retail Insurance is specialised cover to suit the needs of small shops and retail businesses. You can select cover for public and products liability, theft, property damage, and many other insurance types. Whether you’re located in a shop or selling direct to customers, EBM can ensure your business has cover for insured events.

The retail industry is one of constant change, with cyclical demand, legislation, and environmental factors among the many influencers of overall performance of this hugely varied sector. EBM offers Retail insurance that can assist with the continuously changing industry, legislation and the risks for retailers including but not limited to:

Bakery shop
Cake shop
Confectionary retail
Delicatessen
Health food retail
Speciality food store
Sport and camping goods retailing
Bicycle and accessories retail
Convenience store
Butcher shop retail
Liquor retail
Fishing equipment retail
Golf equipment retail
Surf/ski and skateboard retail
Clothing retail
Raw fish and seafood retail
Fruit and vegetable shop

We treat your insurance as if it were our own, we don’t wish to see you spending more of your hard-earned dollars than necessary, yet at the same time ensure you are adequately protected.

Protect Your Business

EBM can offer a wide range of business functions and faculties, including:

Retailers Public & Products liability
Business Interruption
Cyber liability
Management Liability
Retail Property including Theft, Money and Glass
Workers’ Compensation
Tax Audit
Electronic Equipment

Public and Products Liability

Public Liability covers your retail business for losses or damages that a third party has suffered, for example, property damage or personal injury. This risk could range from a visitor to your store slips and falls and injures themselves on your premises, to one of your employees causing property damage whilst at a customer’s premises.

Products Liability covers your retail company’s liability for losses or injuries caused by a defect or malfunction of products manufactured or sold. Products Liability insurance is recommended for retailers wholesalers. As a retailer you may find yourself legally liable for the products you have supplied and may be liable for any losses relating to the products.

Contents Insurance (for theft and burglary, glass)

Your contents policy should be flexible enough to meet your needs, whilst being as affordable as possible. This is something you can be confident with when you insure with EBM together with our personal service and the support we provide. With EBM Contents Insurance you get the option of how much excess the policy includes, as well as the choice between cover for 'defined events' or 'accidental damage' or both.

Your contents insurance includes a number of special features and benefits negotiated by EBM which are automatically built in to your policy for no extra cost.

Property Damage

Your policy can cover your premises in case of theft, attempted theft, armed hold up or the accidental or intentional breakage of glass. It can also cover damage to your retail shop from insured events such as fire, lightning and explosion. (Exclusions like flood damage may apply). Provides cover for a reduction in your retail business revenue arising from interruption of your retail business by damage to your property caused by an insured event. Provides cover for the cost of replacing your shop's contents & stock from theft, attempted theft, armed hold up or an actual/threatened assault.

Machinery Breakdown

Your insurance policy can offer protection against the breakdown of electrical or mechanical machinery, cash registers, cool rooms, display fridges or air conditioners.

The policy also covers you for breakdown of office equipment such as computers, printers, fax machine and phone equipment.

Income Protection and Personal Accident

Income Protection insurance is a monthly income stream to help support you if you are temporarily unable to work because of illness or injury.

Also known as salary continuance insurance pays a monthly benefit of up to 75% of your pre-tax salary if you are disabled due to an illness or injury for longer than the nominated waiting period. Income protection benefits begin after a predetermined waiting period (e.g. 30 days, 90 days, or two years) that you nominate when you take out the cover.

Generally, a longer waiting period means a lower premium however it also means you’ll have to wait longer to receive your first benefit payment. The policy will continue to pay the benefit for as long as you remain unable to work up to a maximum predetermined period. This can be a set timeframe such as two years or age based (e.g. up to age 65).

Workers Compensation

Employers have a duty of care to their employees, and in most instances are legally required to provide compensation for death or injury to those employees whilst working.

This is most commonly achieved through legislation which makes it compulsory to arrange insurance protection (often referred to as "workers' compensation", "workmen's compensation" or "employers liability" insurance.)

Apart from any specific statutory liability, an organisation may also be liable to its employees under common law, depending upon the state and/or country in which it engages these workers.

At EBM we closely review our clients’ needs within Australia and overseas before we design an insurance solution to respond to our client’s unique requirements, taking into consideration:

Differing scheme requirements between jurisdictions.
Scope of available cover including statutory benefits, common law, journey claims and industrial diseases.
Contractual requirements extending to accommodate principal’s indemnity, waivers and hold harmless provisions, where available.
Examination of claims history.
The assistance of EBM’s unique Injury Management service.

Workers' compensation premiums are often one of the largest components of an organisation's total insurance costs. There are also substantial penalties if employers fail to comply with legislated regulations.

EBM’s experienced and professional Account Managers have an intimate understanding of each jurisdiction, including the key factors driving premium costs. This places EBM at the forefront of our industry.

Retail Insurance Brokers

A retail insurance broker can save you time, money and worry;
Assist you to assess your level of retail business risk and how best to manage it;
Insurance can be complicated so an insurance broker can help you understand the details of a retail insurance policy and also help you work out what level of cover you need;
Provide advice and guidance on the purchase of the right retail insurance products and can organise covers that are tailored to your individual retail business requirements;
Offer pay by the month Premium Funding options;
They are your claims advocate, there when you need them the most;
Assist you with the preparation and settlement of claims;
Liaise with the insurance company to negotiate the best possible claims outcome for you.

Making a claim

Part of our role as your broker is to assist you throughout the claim process to ensure you obtain a fair and equitable result from the insurer. It is important that we are aware of claims and circumstances as soon as possible so that we can ensure you are meeting the insurers’ requirements, giving you the best chance of a favourable settlement. Our staff are trained to assist you throughout the process and to ensure the claim is settled as soon as possible. Please read on for advice regarding specific claim types.

Liability Claims

When any event or occurrence which may result in a claim against you happens, report all details immediately to your EBM account manager. In addition, record the names and addresses of as many witnesses as possible. Do not admit liability or enter into discussions regarding the negligence of any party involved. If and when appropriate we will ask that you forward copies of all correspondence and provide you with a claim form to complete and return to us. Be sure to carefully record all details and circumstances whilst they are fresh in your mind.

For all other property claims, contact your EBM account manager, noting all relevant details to the claim. If necessary you should also take steps to ensure that the property is secure, so that further losses will not be experienced.

EBM brokers can assist with specialised cover to suit the needs of small shops and retail businesses.

Contact our experienced Retail insurance brokers today by filling in the contact form or calling us on 1300 755 112.