5 Reasons To Check Your Business Insurance at Christmas

Christmas can sometimes be a busy and stressful time for many businesses, big and small. By December the big Christmas countdown is on as people are busy preparing for the end of year run – orders to complete, sales targets to reach, and of course extended opening hours and extra staff to cater for the rush of customers.
It’s a hectic time of year, and there is a lot to think about and before the Christmas wrap up. With all this activity going on, it’s crucial to take the time to check and make sure you have enough insurance protection to keep your business safe over the festive season.

Increase in foot traffic

It goes without saying, at Christmas time there will be an increase in foot traffic coming into your business. If your business is a restaurant or cafe, there will certainly be more people out enjoying their time off with family. If you’re in retail, the shoppers will be out in droves, maybe not as much as previous years due to Covid, but there will still be an increase in foot traffic. Despite everything you may have done to ensure your premises is safe, the increase in cusotmers will further increase the likelihood of an incident or accident. It could be as simple as someone tripping or slipping, merchandise falling from shelves, or a more seasonal injury caused by a sinister Christmas decoration. Now’s the time that is it essential to have Public Liability insurance, and if you do have it, ensuring you have adequate cover.

Increase in stock

If you’re in retail or manufacturing, this time of year, you are holding an increased level of inventory. Do you have the right level of Business Insurance to cover your stock and contents in the event of theft or damage? Have you considered if you have adequate cover for the increased levels of stock you are carrying? Make sure you check how much stock value you actually have and check if your current policy covers that cost.

Keeping cash safe 

If you’re offering your customers Christmas deliveries, think about getting goods in transit insurance cover as part of your business insurance. If you already have cover, you should make sure you have enough cover for the increased number of deliveries. The same applies to cash on the premise. With the increase in customer number and longer opening hours, you will probably have more cash than usual.

Increased chance of break-ins

Over Christmas break, some businesses will operate with less staff, and many will close their doors for a couple of weeks for a well-earned break. Christmas is a hectic time for burglars. There is the increased chance of break-ins during this time, We’ve already covered having enough cover for stock and contents in the event of a break-in, but you should also think about your machinery when figuring how much cover you need and if you have a shopfront think about cover for the breakage of glass and the damaged caused to doors and locks.

Hot weather ahead

It goes without saying, the Christmas and new year period are going to get hot. Unfortunately, we have recently seen the effect of bushfires from the devastating damage of earlier this year. If your business was to be damaged by fire, do you have the right insurance cover? If you are unsure, get in touch with us at TBI today.