pdf Retail Shops

Insuring your Shop
Retail Shops from Tower Insurance, the local Manx Insurer, is a product designed specifically for privately owned shops and retail outlets on the Isle of Man. With such a wide range and variety of local shops, it is important to have flexibility in our product to ensure we can provide the cover you need. That is why our Retail shops policy has so many different sections, allowing you to tailor the cover to your needs.

What types of Retail Shops can be covered?
With so many different types of shop it is impossible to list them all! The following examples are those we see most often, but any shop or retail outlet that can demonstrate an appreciation of the risks they face, and appropriate management of these risks, is likely to be suitable for the Retail Shops policy from Tower Insurance.

Arts & Crafts Greengrocer/Fruiterer
Baker (Ex baking on premises) Greeting cards
Bicycle Grocer
Book and Shoe Repairer Haberdashers
Bookseller Hairdresser (ex beauty treatments)
Bridal Wear Hardware/Ironmonger
Butchers Health Foods
Chemist Ice cream parlours
China and Glassware Internet Cafes
Clothing excluding sports Lamps/light fittings
Coffee/Tea Rooms Musical Instruments
Confectioner Newsagents
Delicatessen Nursery Equipment/prams
Draper Optician
Fancy Goods Pet shops
Fashion Accessories Print Shops
Film Processors Sandwich Bars
Fishmonger Sewing Machines
Florist Shoe shops
Frozen Foods Stationers
Garden Supplies Toys


What cover is available?
Our policy contains many different sections of cover and options. A more detailed summary of the covers and options is available in our Retail Shops Policy Summary document.

Property Damage:

  • Cover is provided on an All Risks basis, cover includes....
  • Buildings & contents on an all risks basis, with a 15% uplift in the sum insured on day one.
  • 50% seasonal increase in stock sum insured for November & Deecember and the 4 weeks prior to Easter.
  • Cover for stock whilst temporarily removed from the premises.
  • Replacement of locks and keys following a theft.
  • Cover for glass, mirrors and neon signs.
  • Goods in transit cover.
  • Exhibition extension, covering you and your stock whilst at exhibitions or shows.
  • Deterioration of stock in a freezer or fridge

Business Interruption (Loss of profits):

  • 12 month indemnity period, with £500,000 limit as standard.
  • Extension available for Infectious Diseases, Food Poisoning, Murder, Suicide of ???, Defective Sanitation and Denial of Access (Including loss of attraction).
  • Gas, water and electricity utilities extension available.
  • 10% unspecified suppliers
  • Book Debits £5,000 any on loss
  • Misuse or containimation of computer systems £100,000
  • Loss of Liquor Licence £100,000 any one period of insurance

Liability cover:
Standard limits are shown below. Higher limits may be available on request.

  • Employers Liability       £10,000,000
  • Public Liability             £2,000,000
  • Products Liability         £2,000,000
  • Legal Defence Costs    £250,000

Other covers:

  • Money up to £5,000 on the premises during business hours
  • Money up to £3,000 in the safe overnight
  • Personal Accident hold-up cover
  • Goods In Transit, £2,500 (2 vehicles @ £1,250 each)
  • Deterioration of Stock, £1,000
  • All Risks Worldwide, £2,500 

The Benefits of Tower Insurance Retail Shops Cover:

  • A locally based claims team, for when you need us most.
  • A policy designed and priced specifically for Isle of Man businesses.
  • Local customer service teams for you and your broker.


Retail - Policy Wording

Retail - Policy Summary