When it comes to business insurance, there’s a lot to consider: What your business is, how many people are involved, whether it impacts or involves members of the public or even their property… The list goes on and on.
There are plenty of risks to consider when you’re getting your insurance too: What if you don’t get the right cover? You could be left with a huge bill for something that you believed you were covered for. Not only did you waste the money you paid for a policy that didn’t cover you, but now you’ve got to pay out too!
What can you do to make sure you’re covered?
It all comes down to the types of cover you may need:
Employers liability is needed by anyone who employs people. It will cover your liabilities for injury or illness.
- You need it if: you employ staff.
Professional indemnity helps to protect you against any loss or damage caused by professional negligence or negligent advice.
- You might need it if: You provide advice or services to your customers.
Public liability will keep you covered for any injury to members of the public or damage to their property.
- You might need it if: Your business comes into contact with members of the public or their property.
Product liability helps you if any of the products you provide cause injury or damage to someone. This can cover you even if you weren’t negligent.
- You might need it if: Your business makes, sells or repairs products.
Buildings insurance will help if there’s any damage or destruction of a building you own. It’s a good idea to get total rebuild cost covered.
- You might need it if: You own buildings.
We have just begun to scratch the surface of what you might need to consider when picking insurance for your business. So next time we will cover other aspects that can make or break the bank with your insurance policies.
For more information on business insurance, contact Sidekick today.