Shop insurance covers a number of things that may happen to a piece of property. If your shop burns down, explodes, gets hit by lightning, or falls through a crack in the earth during the middle of an earthquake then good news…you are covered.

Storm damage or flooding? You are good on that too. What if a riot (or something similar) starts outside of your shop? If people decide that it is the end of the world and that they need to bust through your windows with a television (which always seems to happen in zombie/apocalypse movies so it is certainly in the realm of possibility). Shop insurance considers those types of possibilities as well, vandalism, malicious or accidental damage, impact, leakage, and theft are also all covered under shop insurance.

But do not start asking around for your own shop insurance quote just yet. What makes shop insurance so different from any other type of insurance is its policy as much as anything else. Depending on where you go for the insurance quotes and what you ultimately end up with, your policies could change from batch to batch while your basic coverage remained the same.

The policy for indemnity insurance protects businesses just like shop insurance does. It just protects a different aspect of business. While Shop insurance is more towards the physical, indemnity insurance covers the financial. Financial as in lawsuit.

For example, say that you own a shop in an area that sees a lot of snowfall. As we all know, snow means ice and icy ground is treacherous to walk on. For the most part, business owners make sure to have employees salt the walkways that are a part of their property. That way any consumers that decide to visit their business do not have to worry about being injured. If people have to travel over rock, cement, or asphalt to enter your shop, and, as a shop owner, you did not salt the possible problem areas and someone gets hurt, then you will be the one held liable.

Maybe you used the money for the salt for something else, or maybe your employees were told not to do it, or maybe you simply forgot to do it yourself. The point is that because of a misjudgement on your part, an event occurred that could have otherwise been avoided, which all boils down to you being sued.

Doctors and hospitals have this sort of insurance and you see it come into play during malpractice suites.

While the insurance itself does not prevent the lawsuit from happening, it does help cover the cost. Indemnity insurance is not a problem solver, but a resource to pull on when mistakes are made. This form of insurance does not just cover shop owners, it also covers employees, which is a huge benefit if you happen to get saddled with an employee, or employees, who are less than diligent with their duties.

Another type of indemnity insurance is called errors and omissions Insurance. Errors and omissions insurance is a prime example of how some insurance can be under the same category while specialising in certain areas.