PolicyCompare Policy summary Policy Summary · USD 29
Your renewal quote, and what changed in the wording
Shop insurance, two documents compared. The price went up 12 percent. Three things in the cover also changed and none of them were mentioned.
Renewal documents rarely say what changed. This one is 38 pages and the differences from last year are in four places, none of them in the covering letter. Three of the four matter to you specifically, because of what you actually claim for.
The excess on accidental damage has gone from 250 to 500. Stock cover away from the premises has dropped from 5,000 to 2,500. And a new condition requires the alarm to be set whenever the shop is closed, with cover excluded if it is not. Both of your claims in the last three years were accidental damage.
Overview
What you are being offered
| Field | Expiring policy | Renewal offered |
|---|---|---|
| Insurer | Marlowe Commercial | Marlowe Commercial |
| Policy number | MC-4471902 | MC-4471902 R3 |
| Period | 1 Nov 2025 to 31 Oct 2026 | 1 Nov 2026 to 31 Oct 2027 |
| Premium | USD 1,840 | USD 2,060 |
| Buildings | Not insured, landlord's policy | Not insured, landlord's policy |
| Stock at premises | USD 85,000 | USD 85,000 |
| Contents | USD 40,000 | USD 40,000 |
| Business interruption | 12 months indemnity | 12 months indemnity |
| Public liability | USD 2m | USD 2m |
| Employers liability | USD 10m | USD 10m |
The headline sums insured are unchanged, which is what the covering letter emphasises. The changes are in the excesses, the sub limits and the conditions, which the letter does not mention.
Changes
The four differences
| What | Expiring | Renewal | Matters to you? |
|---|---|---|---|
| Accidental damage excess | USD 250 | USD 500 | Yes. Both recent claims |
| Stock away from premises | USD 5,000 | USD 2,500 | Yes. Market stall stock |
| Alarm condition | Recommended | Condition precedent | Yes. See clause 4 |
| Glass cover | Named perils | All risks | Yes, and this one is better |
Exclusions
The main exclusions, unchanged but worth knowing
- Wear, tear and gradual deterioration. Standard, and the reason the 2024 damp claim was declined
- Money above USD 1,000 in the premises overnight, and USD 500 in transit
- Theft not involving forcible and violent entry. Shoplifting is not covered and never was
- Stock in an unattended vehicle, entirely excluded regardless of the sub limit in clause 2
- Damage caused by any deliberate act of an employee, unless reported to police within 7 days
- The first 24 hours of any business interruption claim
Your claims
What the changes would have meant
| Claim | Date | Paid | Under the renewal wording |
|---|---|---|---|
| Accidental damage, display unit | March 2025 | USD 1,180 after excess | USD 930. Excess is 250 higher |
| Accidental damage, water, stockroom | August 2024 | USD 2,640 after excess | USD 2,390 |
| Damp, declined | January 2024 | Nil | Still nil. Exclusion unchanged |
This is arithmetic on your own claim history against the new excess, not a prediction. It is here because the excess change is the one that is easiest to agree to and most likely to cost you.
For your broker
Seven questions, and the order to ask them
- General condition 7 now makes the alarm a condition precedent to liability. What exactly must we do, and does it apply when the shop is closed for a half day?
- Can the accidental damage excess be brought back to 250, and what would that cost on the premium?
- Stock away from the premises has halved to 2,500. We take stock to markets. Can that limit be restored or extended?
- Stock in an unattended vehicle is excluded. Is there cover available for that, and from whom?
- Why is the premium up 12 percent when the sums insured are unchanged and cover has narrowed in two places?
- Are these changes specific to us or a book wide wording change by Marlowe?
- If we go to market, which of these terms would you expect to improve?
- Ask before 31 October. Cover lapses at midnight and a gap is worse than a bad renewal
- Ask for any answer on the alarm condition in writing
- Do not cancel or decline anything until replacement cover is confirmed in writing
- Keep both policy documents together with this summary