There are now a variety of petrol forecourt insurance policies available. If you run one of these businesses, you can get financial protection for everything from your forecourt and buildings to contents and stock and goods in transit.

Other forms of cover include employers’ and public liability, business interruption, personal accident and environmental liability. There are many reasons why it’s essential to make sure you have suitable protection in place, and here are three of the most important.

1. Petrol stations are high risk environments

As independent brokers Forum Insurance note, petrol stations are naturally a greater risk than the majority of other retail premises, making appropriate financial cover a must. A whole host of problems can affect these businesses.

For example, the storage of petrol is associated with dangers such as fires and explosions, environmental damage and health problems if chemicals are handled in the wrong way. The movement of cars, lorries and other vehicles on forecourts can also pose a significant risk.

On top of these dangers are more general problems that many companies can be affected by, such as flooding and storm damage and theft. Without the right insurance, any of these issues could spell financial disaster for petrol stations.

2. Business can quickly be lost to competitors  

When petrol stations are out of action for a period of time because of a problem such as a flood or fire, their customers can quickly change their refuelling habits and start relying on other forecourts to fill up. In turn, this means that the financial ill-effects of such problems can be felt long after forecourts start trading again.

In situations like this, business interruption insurance can play a vital role. Covering the loss of income that companies suffer as a result of a disaster, it can be essential when it comes to enabling firms to balance their books and continue trading.

3. It provides greater peace of mind

On a more basic level, having the right financial cover in place can provide forecourt owners with greater peace of mind. There’s no denying that running one of these businesses can be difficult, but knowing that they will be protected in the event of problems ranging from fires to public liability claims can remove some of the stress. It gives owners a greater sense of control over the future of their companies and makes it easier for them to focus on the day to day issues associated with managing a business.

Of course, if you’re looking for insurance for your petrol forecourt, it’s crucial that you find a product that matches your precise requirements. These policies can include a range of core features and add-ons, and you should consider your options carefully to make sure your insurance meets your needs and is good value for money.