Welcome to the Lloyds TSB FAQ's for Complete Retailer Shop and Salon Insurance product.
Q: How long is a quote valid for?
The quote will remain valid for up to 60 days from the quote date.
Q: How far in advance can I get a quote?
You can obtain a quote up to 60 days before you need cover to start.
Q: What if I don't know the date of my claim?
It is important that you provide accurate information in respect of previous claims as failure to do so may invalidate your policy or result in a claim not being paid. Please contact your previous insurer who should be able to provide the details you require.
Q: What if I don't know the amount of my claim?
It is important that you provide accurate information in respect of previous claims as failure to do so may invalidate your policy or result in a claim not being paid. Please contact your previous insurer who should be able to provide the details you require.
Q: How many claims can I have had?
In order to obtain an online quotation your business must not have been subject to more than two incidents, losses or claims (or the total value of all claims must not exceed £5,000) within the past three years. If this is not the case you may still be able to get a quote for Essential Business Insurance but you will need to call the Business Insurance Centre on 0800 048 1669.
Q: What are the exclusions on this policy?
The full list of exclusions, as well as full terms and conditions, can be found in the policy wording. Alternatively, a summary of the significant exclusions can be found in the policy summary. In addition, when you obtain a quote any additional exclusions or conditions specific to you will be detailed in your policy schedule.
Q: What are the standard excesses?
The main standard excesses on this product vary by section as follows:
Contents - £250
Buildings - £250
For full details please refer to the policy summary.
Q: What does public liability cover?
Public liability covers you against your legal liability in connection with your business to pay compensation and claimants costs and expenses in respect of accidental injury to any person or damage to material property. Please note that it does not provide cover in respect of injury to your own employees - this will require Employers' Liability
Q: What does employer's liability cover?
Employers' Liability covers you against your legal liability to pay compensation and claimant's costs in respect of injury and disease sustained by any of your employees undertaking work in connection with your business. Please note that most employers are required by law to have employers' liability insurance. Further advice can be found in the Health and Safety Executive guide (HSE40) which can be found here http://www.hse.gov.uk/pubns/hse40.pdf
Q: What if my trade is not on the list?
If you can not find your trade on the list please call the Business Insurance Centre on 0800 048 1669 for further assistance. It is important not to choose another trade as this may invalidate your policy or result in a claim not being paid.
Q: What do I do if I have multiple trades?
You will only be able to choose one trade on this product. If this does not sufficiently cover all your activities then please call the Insurance Business Centre on 0800 048 1669 for further assistance. It is important that all your activities are advised to the business insurance centre as otherwise it may invalidate your policy or result in a claim not being paid.
Q: How many trades can I have on this policy?
You will only be able to choose one trade on this product. If this does not sufficiently cover all your activities then please call the Business Insurance Centre on 0800 048 1669 for further assistance. It is important that you tell the business insurance centre your trade in detail as otherwise it may invalidate your policy or result in a claim not being paid.
Q: What is the maximum number of people I can cover?
There is no limit on the number of staff you can employ under this policy.
Q: What covers are available under this product?
The following covers are available:
Trade Contents
Money & Personal Assault
Goods in Transit
Deterioration of Stock
Business Interruption (including Book Debts)
Employers Liability
Public & Products Liability
Buildings
Loss of Licence
Legal Expenses
Terrorism
Q: I employ more than 10 people, can you cover me?
There is no limit on the number of staff you can employ under this policy.
Q: Can I get cover if I am a tenant in the property where I run my business?
Yes, Essential Business Insurance is able to insure you.
Q: What minimum level of security must my building have?
The minimum level of security you must have in place is detailed in the policy wording. In addition, based on your specific details you may be required to install an intruder alarm - this will be detailed in your quotation.
Q: How will I know what security my building will need?
The minimum level of security you must have in place is detailed in the policy wording. In addition, based on your specific details you may be required to install an intruder alarm - you will be alerted in your quotation if this is the case.
Q: I don't have an alarm on my property can I still get insurance?
You may not need to have an alarm on your property - this will be based on your specific details. If Essential Business Insurance products require you to install one, it will be in your quotation.
Q: If I don't select a certain cover on my policy now, can I add it later in the year?
Yes, providing any acceptance criteria are met.
Q: I have some specialist equipment in my business for my occupation, can I list this somewhere on my policy so I know it is covered?
Should you wish to have any specialist items listed on your policy please call the Business Insurance Centre on 0800 048 1669 for further assistance.
Q: Can you cover my van under the shop policy?
This cover can not be included under the retailer policy. You can insure your van separately under the Commercial Vehicle policy.
Q: What is the maximum number of staff I can employ?
There is no limit on the number of staff you can employ under this policy.
Q: If I use a private vehicle to pick up stock is it covered in transit?
Yes providing the vehicle is owned by you. The policy offers £2,500 cover for goods in transit as standard - you may choose a higher level if required.
Q: Am I covered for loss of refrigerated stock due to electrical failure (outside of my control)?
Cover is provided under the deterioration of stock section. £1,000 of cover is provided as standard, but you can increase this limit if necessary.
