Small, valuable, and easy to carry.
Cover for electrical and technology retailers: stock a thief wants, customers’ devices in for repair, and the data on both.
Electrical and technology retail insurance
Usually includes
Stock
Customers’ goods
Premises & fit-out
Cyber & data
Public liability
Products liability
One
conversation.
You explain the business once, and we take it from there.
Bespoke service
for your business
No two businesses are the same, so we start with yours rather than with a template.
Everything
quoted together.
The premises, your stock, your liability and the trade you would lose, priced in one go rather than piece by piece.
Know your cover
What is electrical retail insurance?
Technology stock has the worst combination of properties in retail: high value, small size and an instant resale market. That drives the security conditions on the policy and often the price of it. Businesses that also repair carry a second exposure, because a customer’s device in your workshop is their property in your custody, and the data on it is theirs too. Cover is built around stock and security, with customers’ goods and cyber alongside.
It covers the stock
Phones, laptops, consoles and components, at the value you hold and under the security agreed.
It covers customers’ devices
Anything left with you for repair or trade-in stays the customer’s while you hold it.
It does not cover the data on them
Recovering a customer’s lost data is a cyber and liability question rather than a property one.
Who it’s for
Whatever you sell.
✓
Electrical retailers
White goods and brown goods, with delivery and installation attached.
✓
Phone and tablet shops
High-value small stock and a repair bench behind the counter.
✓
Computer and IT retailers
Builds, components and business customers with service expectations.
✓
Gaming and console retailers
Sought-after stock with a strong resale market.
✓
Repair-only businesses
No retail stock, but customers’ devices and their data in your hands.
✓
Retailers selling online as well
Despatch, transit and returns on top of a shop.
What we cover
Cover built around your stock.
We ask what you sell, whether you repair and what security you have before we approach anyone. Then show you what’s available, and you decide what fits.
Stock
Devices, components and accessories, with the theft-attractive lines identified rather than averaged.
Customers’ goods
Devices left with you for repair or trade-in, which remain the customer’s property throughout.
Premises & fit-out
The shop, the counters, the display security and the workshop behind them.
Cyber & data
Customer data on your systems and on the devices in your workshop, and the payments you take.
Public liability
A customer injured in the shop, and damage caused where you deliver or install.
Products liability
Harm caused by a device you sold or installed, including one you imported.
Stock in transit
Deliveries in, despatches out, and devices sent away for specialist repair.
Employers’ liability
Required by law from your first employee, including technicians and delivery staff.
Business interruption
The servicing and sales lost while the shop or the workshop is closed.
Who this cover tends to suit.
This cover is generally bought by electrical and technology retailers, from a single phone repair shop to a business with a showroom, a workshop and a delivery service. Not every part will apply to every business, so tell us how you’re set up and we’ll show you what’s relevant.
Worth knowing
Check the details before you choose.
Security conditions decide the claim
Shutters, alarms to a specification, safes and how stock is put away at night appear as warranties in this trade more than any other. A theft claim can turn on one of them.
Customers’ goods need their own limit
Devices in for repair are not your stock, and a stock figure may not answer for them. Tell us the most you hold at once.
Data is not property
Losing a customer’s photographs is not physical damage. It is a liability and cyber question, and it is the complaint repair businesses get most.
High-demand stock is declared separately
Consoles, phones and graphics cards at launch attract targeted theft. If you hold them, declare it rather than let an average carry it.
Every shop is different.
A white goods showroom and a phone repair counter don’t carry the same risk, so we ask different questions for each.
Electrical retail
White goods
Phone shops
Tablet repair
Computer retail
Custom PC builds
Components
Gaming and consoles
Trade-in and resale
Device repair
Data transfer
Delivery and installation
Business customers
Online and shop
Warranty work
Refurbished stock
Electrical retail
White goods
Phone shops
Tablet repair
Computer retail
Custom PC builds
Components
Gaming and consoles
Trade-in and resale
Device repair
Data transfer
Delivery and installation
Business customers
Online and shop
Warranty work
Refurbished stock
Why Vara
Bespoke service for you & your business,
without the big-firm minimum.
01
Security gets settled first
In this trade the conditions on the policy are as important as the limit. We tell you what is being required before you commit rather than after a break-in.
02
Customers’ goods are separated from stock
They are different exposures with different limits. We ask what you hold for other people and size it properly.
03
Data is treated as its own risk
A device is replaceable and the data on it is not. We raise it rather than leave it to the small print.
04
We present the risk right
Stock mix, peak values, repair volumes, security and claims history. How it’s framed changes what you pay.
You talk to a person. The machines do the typing.
Free review of your electrical and technology retail cover and costs.
On a policy that ignores the repair bench? Leave your details and we’ll call you straight back. One conversation covers the lot.
What the review covers
Shutters, alarms to a specification, safes and how stock is put away at night appear as conditions of cover in this trade more than most, and a theft claim can turn on one of them.
Devices left with you for repair or trade-in aren’t your stock, so a stock figure may not reach them — worth checking the most you hold for customers at once.
We approach insurers on our panel who write electrical and technology retail risks, and come back with what they’ll offer.
We explain each option in plain English, including what it doesn’t cover.
If it’s not a risk we can place, we’ll tell you straight away rather than leave you waiting.
No obligation to switch. You decide what fits.
Rather not wait? Call us on 0333 091 3663
Good to know
Electrical retail insurance questions, answered straight.
What insurance does an electrical or phone shop need?
Why are the security conditions so strict?
Are customers' devices covered while I have them?
What if I lose a customer's data?
Do I need products liability if I only resell?
Is stock covered while it is being delivered?
What about high-demand stock at launch?
Does refurbished or trade-in stock change anything?
Vara Commercial Insurance · 0333 091 3663
Vara is a trading name of Koral AI Operating Company Limited. Vara is an appointed representative of Innovative Risk Labs Ltd, under Firm Reference Number 1060955. Innovative Risk Labs Ltd is authorised and regulated by the Financial Conduct Authority, under FRN 609155. We are registered in England and Wales under Registered Company Number 17256222. Registered office: 167-169 Great Portland Street, 5th Floor, London, W1W 5PF.