Record Shop Insurance

Trust leads to more trust

James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals who care about protecting your business.

Trust leads to more trust

James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals who care about protecting your business.

Record Shop Insurance

Whether you sell the latest releases, or a hand-picked selection of valuable second-hand collectibles, we can help you access the specialist insurance you need for your record shop, at the right price.

Why record shops need insurance

Specialist record shop insurance will protect your store against unexpected events such as fire, flood, and theft. We can also cover your liabilities should anyone have an accident on your premises, whether they are a member of staff or a member of the public.

Key risks for record shops include:

  • Vinyl is increasingly valuable, which could make your store a prime target for thieves. This could be a particular issue if you stock any rare or collectible records.
  • Records are also flammable, so if a small fire breaks out in your store, it will likely spread very quickly.
  • A customer could slip, trip, or fall while browsing your shop, or an employee may injure themselves while lifting a heavy box. This could lead to liability claims.

Bespoke record shop insurance would cover you for all of these risks, and more.

We are here to help you.
Call us on 0330 024 0755, email enterprisenb@jameshallam.co.uk or  book a meeting time

What insurance do record shops need?

To cover you for the key risks facing record shops, you need:

  • Public Liability Insurance – This will cover members of the public, including customers, contractors, and delivery drivers, for any accidents of injuries they may experience while visiting your record shop.
  • Employer’s Liability Insurance – If you employ any staff then you have a legal duty to get employer’s liability insurance. This will cover your employees for any accidents or injuries they sustain while working for you.
  • Contents Insurance – This can cover your stock, equipment, and your record shop’s fixtures and fittings against loss or damage caused by events such as fire, flood, theft, and other insured events covered by your policy.
  • Buildings Insurance – This can cover your store premises against damage caused by events such as fire, flood, theft, and other insured events covered by your policy.
  • Business Interruption Insurance – If you need to temporarily close your record shop while you recover from an incident, then business interruption insurance can help cover your ongoing expenses for the period of cover specified in your policy.

Insuring valuable and rare records

You may be able to take out specialist contents insurance to cover any high value or rare records in your stock. To ensure you get the cover you need, you should get your stock valued as often as possible, and you should provide your insurers with an inventory of your most valuable stock.

We can advise you on best practices for valuing and inventorying your stock, and we can also advise you on essential risk management procedures that will help you to safeguard your rarest and most valuable items.

How much does insurance for record shops cost?

The cost of your record shop insurance will depend on a number of things, such as:

  • your location
  • the size of your store and your team
  • the specific types of records you sell. For example, it may cost more to insure rare or collectable records than it would to insure new releases.

Why choose James Hallam for your record shops insurance?

James Hallam is an independent Lloyd’s broker with a dedicated team of experienced insurance professionals who care about protecting your business.

We will take the time to get to know you and your record shop, including the specific type of music you sell and the specific clientele you cater for. This way we can help you access a bespoke policy that meets all of your cover needs at a competitive price.

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