There are many events in the calendar that can lead to seasonal stock fluctuations, from traditional events such as Christmas, Easter, Valentine’s Day or Halloween to occasions such as the return to school, sporting events, new crazes and trends or even the unpredictable Great British weather.

This can mean you juggling the everyday management of your store with buying in extra stock to meet customer demand and give your sales a welcome boost. But does your business cover take account of these seasonal peaks and troughs?

As a busy retailer, it can be easy to overlook the importance of ensuring your cover limits are correct for the amount of stock you hold, so what should you bear in mind to make sure you are covered?

Consider the impact of a store expansion

If you have decided on a store expansion and consequently increased your stock levels, you may want to increase your stock cover limits to match the new value of the items you hold.

Are your goods covered while in transit?

If you get your stock from a cash and carry or other supplier, goods-in-transit cover is worth considering to protect your stock from supplier to store, especially if you are transporting more than usual to keep up with seasonal demand.

Consider rising stock value

When placing an order, bear in mind potential increases in the value of your stock, especially when it comes to items such as tobacco – you may need to adjust your cover limits from year to year or even in between.

When was the last time you checked your cover limits?

Your cover limits are outlined in your cover documents. If you are unsure of what your cover limits are, either check your documents or talk to your provider. At The Retail Mutual we will increase the cover limit for stock by 50% during November and December, and 31 days before Easter Monday. You don’t have to wait until your renewal to check or change what cover types and limits you have.

At The Retail Mutual we specialise in providing an alternative to traditional insurance for independent businesses, including stock and contents cover with cover limits to suit your needs. To discuss your cover requirements, call 0333 2121 280 or start your business cover quote online.