Essential Insurance For Florists
rose is a rose and is beautiful indeed, unless that
rose is delivered to the wrong person or to the
wrong event or withers before a third party has the
opportunity to enjoy it. That's why Insurance for
Florists is very important. A retail florist must
legally trade and protect earnings, liabilities and
certain assets or be in danger of losing the very
business that brings joy to so many people.
Public & Product Liability Insurance
These two insurances are "must haves" for florists.
If an injury to a third party occurs or damage to a
third party belongings whilst in a florist's shop,
then that third party may very likely file a Public
Liability claim. Public Liability Insurance protects
you as the florist for injuries that occur on your
premises or damages that are caused. For example,
you are making a bridal arrangement for the bride to
carry, and she enters the shop in her wedding gown.
She bumps into a freshly painted sale sign and gets
paint all over her wedding gown. That would be
damages to her property, she would probably be
entitled to file a public liability suit.
It is quite important for florists to have Public
Liability Insurance that covers throughout the
United Kingdom and not just in the shop. Often
times, florists go to events like weddings to
deliver and arrange floral arrangements, so make
sure that your insurances covers both in and out of
house. Cover under a standard policy for florists
usually ranges from £1million up to £5 million and
will likely include payment to claimant should you
be found liable as well as legal expenses.
product a florist sells a third party including
vases, plant food, and flowers that is found to be
defective by the purchaser is also considered a
cause for a claim, and Product Liability Insurance
will usually cover the damages should the product
indeed be of poor quality or defective. Product
Liability and Public Liability Insurance for
florists usually are sold as a package, Check
various UK insurance websites to see what package
deals are available.
Employers' Liability Insurance
you have people working in your florist shop or hire
extra help for special events, you need Employers'
Liability Insurance. It is mandatory, and standard
limits for florist are generally £10 million. This
insurance works similar to Public Liability
Insurance, but it is required and is for employees
only. If an employee gets injured on the job whilst
working or has damage to his property or becomes
ill, Employers' Liability Insurance will likely
handle the claim as well as legal expenses. If an
employee is not longer employed but becomes ill
because of the job, he is still entitled to file a
claim, so make sure you have current and past
records of all employees whether full-time,
part-time, free-lance or contracted help.
This cover consists of three sections: Buildings,
Fixtures and Fittings and Stock.
If you own the floral shop you work out of, you need
to insure the building for reinstatement costs.
Check with a surveyor to determine the amount needed
should the property need to be rebuilt. Keep in mind
that the price you paid when you purchased the
building might not be the price that should be
insured, because property values go up and down and
may not reflect the true cost of brick and mortar.
Fixtures and fittings should be covered for total
replacement of these items should you suffer a total
loss. The cover is determined on what is new and
what is old, so all items must be listed as though
you purchased them new or not. This is an item you
might want to review with your insurance agent to
make sure that inflation and other costs are taken
into account, especially if your business is
Stock is any items that you directly or indirectly
sell to clients. This includes flowers, plants,
vases, plant food, cards and other materials. These
items should be insured for what it cost you to
purchase them, not what you sell them for.
Seasonal stock increase cover should also be part of
stock cover. It automatically takes into account
differences in trading patterns, and increases stock
values during different seasons.
Freelance Insurance For Florists
Often times a florist will work freelance during a
particularly busy time of the year or during certain
special events. The freelancer may work out of his
home or at the events. Freelance insurance packages
should include Public Liability, Employers
Liability, Stock and Equipment Cover and Tools and
Stock in Transit Cover. The Stock and Equipment is
optional coverage for items that a freelancer might
keep in his garage that belong to the business.
Tools and Stock in Transit cover equipment and stock
whilst a freelancer is travelling to a certain
Other cover for florists that are optional but worth
discussing with an insurance agent are Assault
Cover, in the event of burglary; Stock Deterioration
Cover, should refrigeration or electrical supply
fail and flowers are ruined; Commercial Legal
Expenses Cover, protection to owner for commercial
contract disputes, etc. and Good in Transit Cover
(see Freelance Insurance).
is important that any claim to your policy should be
reported immediately to your insurance agent. In
most cases, insurance companies have a claim service
telephone number that is available 24 hours a day.
You should be pass on the details of the claim and
expect to fill out a claim form. In the event of a
claim, never admit you're guilty or take any action
until you have made contact with your insurance
agent and have confirmation to do so.
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