Bret McNulty, commercial insurance broker at Abbott Insurance Brokers Christchurch, offers some tips to prevent retail crime and ram raids. 

We know the impacts of retail crime and ram raids on business owners can be devastating, especially for those who have been targeted more than once. But there are steps you can take to protect your business and your team. 

By strengthening the security infrastructure of your business and selecting the right insurance policies, you can minimise your risks of being targeted and protect your bottom line.

Here are some practical steps you can take to deter raiders.

Physical security

Ensure your premises have strong doors, windows and security shutters. Consider fog cannons and bollards. High-quality surveillance cameras and alarms can deter potential criminals and provide valuable evidence in case of an incident. 

Adequate lighting

Install motion-activated lights to illuminate dark areas around your property during the night.

Controlled access

Limit entry points and consider implementing access control systems restricting access to authorised personnel only.

Remove temptation

Keep high value or attractive items out of sight, leave your till drawers empty and open, and minimise the amount of cash on hand.

It’s equally important to have the right insurance coverage in place to protect you from the financial losses associated with retail crime.

Be sure to tailor your policy to your unique situation, and don’t be tempted to reduce your cover costs to save money upfront. This can prove risky down the track, especially at claim time.

Minimum covers to consider

Material damage – Property insurance covers damage or loss of your physical assets due to theft, vandalism or ram raid incidents. Ensure your policy adequately covers the replacement cost of your assets, including stock.

Business interruption (loss of profits) – If your business is forced to close, business interruption insurance provides financial support to help cover ongoing expenses and loss of income.

A good broker will tailor your cover to your unique situation, accounting for any preventative measures you’ve taken, and provide options with guidance for your consideration. 

By engaging an insurance professional to help manage your risk, you can save time, money and stress in the long run.