Policy Cover

 

 

 

 

 

Summary of policy cover

Because cycle shops are unlike other retailers they require more specialist insurance to protect them and their customers. In partnership with Norwich Union we have developed an exclusive policy for cycle retailers to give you the peace of mind that you deserve when protecting your business.

As well as providing all the features you would expect from a general shop insurance policy – see summary of policy cover - we also offer additional cover as standard which is relevant to cycle shops
Key features
In addition we offer special benefits to ActSmart subscribers

We can also work with you to develop other bespoke cover
options where necessary.


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Summary of policy cover

 

  

Property Damage Section
All risks cover on notes and other negotiables as follows:

• Plate Glass
• Goods in Transit Cover on goods carried in your own vehicles.
Standard limit is £2500 any one loss
• Cycles displayed outside the front and side of your shop *
• Pedal Cycles in the custody or control of the policy holder for service/repair
• 50% Seasonal Increase in Stock sum insured for the months of November,
December & January or any 3 months of your choice
* Can be extended to include outside storage locations.

Business Interruption Section
All risks cover up to £350,000 following damage insured under property damage Section. Cover can be increased above this amount.

Money Section
All risks cover on money, subject to limits on cash, currency notes and other negotiables as follows:

• In Transit/ at own premises during business hours - £2000
• In safe at your premises outside business hours - £1500
• Out of safe at your premises outside business hours - £500
• At homes of Directors or Employees - £500
Subject to security warranties. Some Limits can be increased above these figures.

Assault Section
Personal accident benefits as a result of death or injury resulting from robbery.

Employers Liability Section
• Limit of Liability - £10,000,000
• Includes injury to working partners or proprietors.
• For Terrorism the limit of liability will be restricted to £5,000,000.

Public and Products Liability
• Limit of indemnity £2,000,000 including service and repair

Legal expenses

• Up to £500,000