SMALL BUSINESS INSURANCE: Taking The Confusion Out Of The Process

SMALL BUSINESS INSURANCE: Taking The Confusion Out Of The Process

Article by samantha harley







It’s quite understandable that when you’re making plans for the future of your business, insurance may not be the first thing that springs to mind. And even if you do give it some thought, if you carry out even the most cursory research into small business insurance you’re likely to overwhelmed by the sheer range of policies available.Because the fact is that different types of business face different types of risk.A landlord, for example, may well need Buildings and Contents insurance but not specific policies for Stock and Goods In Transit which a retailer or wholesaler should probably have.A pub or restaurant might well need a Loss Of Money policy because of the high level of cash they might have on the premises. But they won’t need the Product Liability insurance that a manufacturer might well require.Fortunately, some of the more enterprising small business insurance brokers have taken the confusion out of the process by constructing insurance packages for specific types of business.There are some common elements. Employers’ liability insurance is a legal requirement for any business that employs staff. And, in today’s increasingly litigious world, some form of indemnity insurance, such as professional indemnity or public liability, will almost always be included to protect your business against 3rd party claims. If not covered by another policy, basic contents