Insurance Options always strives to offer business insurance quotes based on your individual requirements. If you are not sure which type of business insurance cover you require then simply give us a call and we will provide you with all of the details you need to make an informed decision.
With the costs of running a business spiralling, it can be quite an attractive option to take out the minimum business insurance cover required by law. Usually just enough to cover the basics. Whilst this may seem and attractive option initially, business insurance is there to protect all you have worked for, from all unforeseen eventualities.
Taking out a business insurance policy that only covers the basics could actually cost you your business if the insurer doesnt have a reputation for dealing with claims fairly or quickly enough to ensure you do not lose valuebale sales.
Business insurance tends to fall into three categories:
• Business assets and equipment (contents cover) .
• Property and buildings
• Liabilities
Employers Liability
As soon as you employ one member of staff the law states that you must take out employers liability insurance. As it stands, the bare minimum, by law, states that an employer should have £10m of cover against bodily injury, illness or disease suffered during the term of employment.
Public Liability
This covers your business should you have to pay compensation brought about by personal injury, illness or disease suffered as a result from the the actions or your business or it’s employees.
Legal liability to pay damages consequent upon bodily injury, illness or disease contracted by any other person, other than employees, or loss of or damage to their property caused by the business insurance owner.
Product Liability
This aspect of business insurance covers you against the instance of a defective product causing damage or injury. If your business supplies products to the public or to other businesses then this aspect of business insurance is vital. Blame usually lies with the manufacturer of the product if something goes wrong but if they go out of business, the blame can be left on the head of the supplier.
Professional Indemnity
Today’s society is such that businesses are under a constant threat of litigation. Sometimes claims are just, sometime’s they are not. Whichever the case may be, professional indemnity insurance will protect your business from any legal proceedings brought about by customers that are of the opinion that advice was wrong or inaccurate or you did not perform your duties to an acceptable standard.
Business Interruption
The smallest of things could seriously damage your businesses output, thus leading to unforeseen expenses and a loss of income. This type of business insurance will protect you against this and also pay associated costs and any accountant fees etc.
Good In Transit
This type of business insurance cover will protect goods against damage and/or loss suffered whilst in your vehicle or when in transit with a courier or like.
Property and Buildings
You can insure your business premises and it’s contents against almost any eventuality. The weather, fires and even riots. ‘All risks’ insurance gives your business wider protection. This type of business insurance does not protect against general wear and tear, electrical faults and other such unforeseen circumstances. The details of which would usually be outlined in the particular property and building insurance policy.
Business assets and equipment (contents cover)
You should always insure your businesses stock for actual cost price, rather than with profit. The equipment you require to run your business can be insured on a ‘replacement as new’ or an ‘indemnity’ basis. If your business opts for indemnity the cost of any wear and tear will be taken into account.
You should also bare in mind that much of today’s office equipment or plant requires professional testing on a frequent basis. Most business insurance providers can provide you with this service.
The contents of your business premises will be covered against unlawful theft if there is evidence of a forced entry or exit having been made. Damage caused as a result of this will usually be covered by your policy. However, employee theft is rarely included and you should take out a separate policy should you wish to be protected.
Usually on an ‘all risks’ basis, money insurance will protect your business in the event you meet unforeseen circumstance relating to cash, postal orders, cheques and stamps. Your cover limit will be determined by a number of factors, including – Amount of cash on the premises, kept in safes at the homes of employees and whilst being in transit. Sometime, coverage is provided against personal injury sustained as a result from an unlawful theft of your businesses money.
Insurance Options can work with you to ensure that you get the maximum amount of insurance for your money and that your business stays protected. We will help reduce the risk to your business and provide you with advice and help you make the right choice for your business insurance.
Others that needed a business insurance quote also went here:
Hotel insurance quote | Restaurant insurance quote | Pub insurance quote | Tradesmens insurance quote | Shop insurance quote | Fleet insurance quote | Motor trade insurance quote | Commercial combined insurance quote | Landlords insurance quote
