Over-stocking store rooms and shop floors may invalidate retail business insurance, an insurance company is warning.
As stores get set to stock up for the Christmas trading period, RSA is advising retailers to check the limits on their insurance cover.
“This is a key time of year for retailers and there will be massive temptation to pile goods high to meet anticipated demand,” says RSA’s global business director David Geer. “But it’s definitely worth checking policies to ensure levels of cover aren’t being exceeded. While policies in general automatically provide cover for increased seasonal stock, many do not and it’s easy to be caught out.
“There’s an added pressure on retailers across all sectors this year – not only to make the most of the traditional Christmas run-up but also to capture market share from those consumers eager to beat the VAT hike.”
He added: “Retailers must also be confident that the snow and ice predicted to last all month doesn’t impact on their ability to provide goods to their customers.”