Shop
A comprehensive and highly competitive insurance policy designed to suit the busy shop owner who required an 'all in one' package for loss of property, income and public/products and employers liability.
Please refer to the policy wording for full details of cover and applicable terms and conditions.
Overview
Optima Shop is a fully automated online comprehensive policy designed to offer an 'all in one' package for retail risks. Provides a range of covers including loss of property, liabilities and business interruption with the flexibility to add extensions to suit each specific risk. Option to increase limits / sums insured.
Who is it for?
| Optima Shop | |
|---|---|
| Small to medium sized shop risks based in Great Britain, the Channel Islands and the Isle of Man |  |
| Risks with buildings sum insured up to £750,000 | |
| Risks with contents sum insured up to £150,000 | |
| Over 190 acceptable occupations | |
Commission
Variable commission (maximum 30%)
Minimum premiums
from £243.75 plus IPT
How to get a quote
- Optima Online
- imarket (new business only)
Cover
Standard package provides
| Cover | Optima Shop |
|---|---|
| Buildings |
Fire and special perils cover including theft |
| Contents |
Fire and special perils cover including theft and property owners liability |
| Frozen food |
£1,000 sum insured |
| Glass |
£5,000 sum insured |
| Goods in transit |
£2,500 sum insured |
| Money |
|
| Business interruption |
£500,000 sum insured 24 month indemnity period |
| Accounts receivable |
£100,000 sum insured |
| Public liability |
£2 million limit of indemnity |
| Employers' liability |
£10 million limit of indemnity |
| Products liability |
£2 million limit of indemnity |
Limits can be extended to include
| Limits | Optima Shop |
|---|---|
| Frozen food |
Up to £10,000 sum insured |
| Business interruption |
£500,000 sum insured, 36 month indemnity period |
| Goods in transit |
Up to £10,000 sum insured |
| Money |
Up to £10,000 limit |
| Public liability |
Up to £5 million limit of indemnity |
Cover can be extended to include
| Cover | Optima Shop |
|---|---|
| Accidental damage |
To buildings and contents |
| Subsidence damage |
To buildings and contents |
| Treatment risk |
Various treatments for up to 20 people |
| Sunbed treatment risk |
Up to three sunbeds |
| Personal accident |
|
| Loss of liquor licence |
Limits available from £10,000 to £100,000 |
| Specified all risks |
|
Excesses
| Excess | Optima Shop |
|---|---|
| Buildings | £250 |
| Contents | £250 |
| Subsidence | £1,000 |
Benefits
Policy benefits
| Benefit | Optima Shop |
|---|---|
| Up to 25% no claim discount | |
| Index linked buildings and contents sums insured | |
| Seasonal stock increase of 30% during November, December and Easter | |
| Tenants liability for damage to buildings following theft and damage to underground services, up to £10,000 limit | |
| Contents section extends to cover machinery, fixtures, fittings and other contents whilst temporarily removed from premises, up to 15% of sum insured | |
| Personal injury benefits, following robbery or attempted robbery, of £5,000 if insured or employee killed or suffer serious permanent injury and £50 weekly benefit for temporary disablement | |
| Business interruption section automatically covers loss of gross profit and increase in cost of working | |
| Business interruption automatically includes denial of access, public utilities, and closure of premises due to vermin, pests, defective | |
Risk appetite
Trades we are particularly competitive on
| Trade | Optima Shop |
|---|---|
| Beauty salons | |
| Butchers | |
| Florists | |
| Greeting cards and fancy goods | |
| General stores | |
| Gift shops | |
| Grocers including licensed | |
| Hairdressers | |
| Newsagents | |
| Sandwich shops | |
Literature
Optima Shop
- Optima Shop policy summary (PDF, 42Kb) - This link opens in a new browser window
Reference: none
Published: 19 October 2011 - Optima Shop policy wording (PDF, 543Kb) - This link opens in a new browser window
Reference: WPSH
Published: 18 October 2010
