Business insurance helps companies protect their financial assets, intellectual and physical property from a covered loss due to risks such as lawsuits, property damage, theft, vandalism, loss of income and employee injuries and illnesses. Standard coverages include Commercial Liability, Commercial Property, Commercial Auto and Workers’ Compensation. There is also a wide variety of other business insurance coverages available to address the more unique risks different businesses face. Insurance coverage that protects businesses from losses due to events that may occur during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability and employee-related risks.
Why get business cover?
- Cover like public liability is use and relie on thousands of businesses in the UK. It’ll protect you from expensive claims for the small slip-ups.
- Lots of trade bodies will demand that their members are insure for certain things, such as professional indemnity. Whatever they require, we’ll help you get start.
- Business insurance can be essential for securing contracts with clients – so check what’s need and we’ll help you arrange cover.
- Additional covers like protection for stock, business interruption, equipment, contents and buildings can also be essential, should you hit a crisis that threatens your trade. So try and weigh up the potential risks, and decide what’s important to your business.
Types of Business Insurance Policies
- Damage to the physical location of your business.
- Damaged tools, assets and documents.
- Damage caused by vandals.
Because business insurance spreads the risk costs among all businesses with coverage policies, a business may experience rate increases when no claim was filed against that business. However, the replacement costs for the individual business are generally considerably higher, making purchasing business insurance a wise decision for many business owners, whether involving a large, established business or a small business just starting.