Shops have always been the targets for thieves and since the emergence in the early nineteenth century of shopping rows, have presented their owners with various security considerations to deter organised crime. Most of these security requirements were insisted upon by insurance companies before they would underwrite the risk.
Today it is no different a risk for insurers, with the exception that the types of goods to protect and security considerations that retail outlets have to manage have changed somewhat over the years. Likewise today, all insurance companies when offering shop insurance to retailers will insist on what is known as a ‘minimum level of security’, in order for the policy to be valid.
The responsibility of making a shop building secure to the minimum level of security will usually lie with the owner of a property. If the shop is owner-occupied then the retailer will require an all risks buildings and contents shop insurance policy.
The buildings section of the policy will insist with clauses and wordings that certain thief deterrent security features are in place. Typically these include double mortice locks on doors and windows and grilles or bars where appropriate.
Most shop premises are either leased or rented and in these cases it is advisable to refer to the leasehold contract or landlord’s tenancy agreement, as to establishing the responsibility for insuring the buildings and securing the premises.