Specialist business insurance broker Businessinsure is warning that some stock insurance policies might not fully cover seasonal stock increases.
Managing director Paul Roach explains: “This is the time of year when many companies significantly boost their stock to cope with the demands of the festive season.
“What some businesses don’t realise is that their stock insurance policies might not cover these increases, which leaves them dangerously exposed.
“Good policies will automatically have provision for seasonal stock increases in place, but not all of them do, so it makes sense to check now rather than finding out as a result of the worst case scenario.”
Roach adds: “For most companies, the nightmare scenario is that they arrive at work to discover their entire stock has been stolen or damaged by fire or flood overnight.
“Whatever the cause, the outcome is simple – within the space of a few hours their stock is gone.
“This is the time when businesses want to be confident they’re covered for the full value of their stock.”
