Who needs business insurance?
If you are the owner of a business or SME or any kind, you need to think about the specific risks that you face as a business. These can be slightly different from other small businesses and your cover may need adjusting accordingly. You need to consider elements such as having cash, stock and members of the public or suppliers on the premises, possibly having some staff and the need to cover items such as glass shop windows and signage from accidental damage.
Who can we cover?
✔ Shops / Retailers ✔ Cafes / Restaurants / Pubs and Bars ✔ Tradesmen / Contractors ✔ Offices ✔ Surgeries ✔ Residential and Commercial Property Owners ✔ Salons / Hairdressers / Beauticians ✔ Professional Indemnity
What should you consider as part of your policy?
It is important to be able to tailor your cover to meet your own specific needs, as you do not want to be wasting your hard earned profits on cover that either; does not give you sufficient protection or is more costly than it could be. We aim to give you a tailored package, much like a shopping list, including various additional cover options that you only buy if you need to. Items to consider include:
- Public Liability Insurance – If you have customers or suppliers on your premises it is important to have liability cover should they be injured while under your roof or as a result of your, or an employees, work or negligence.
- Employer’s liability cover – This is required by law by anyone who has people working for them, whether they are full time or part time employees, contract, seasonal, casual or temporary staff. This covers the cost of any compensation and legal fees that you might incur should an employee being injured at work, for example by falling over a box in your stock room or putting their back out unpacking a delivery.
- Contents and stock cover- If your shop is rented or leasehold you may shouldn’t to consider buildings insurance but contents insurance will certainly be worth a thought. As a lot of money is often tied up in stock you may want to protect it against loss, theft or damage and we can often offer seasonal increases to this cover, for example around Christmas, if this is important to you.
- Cash on the premises and in your safe can be covered as standard, the levels vary by policy. If the standard level is not enough for we can often extend it for an additional premium.
- Cover is available for other items such as laptops and printers, salon furniture or special consulting room chairs. If relevant you can extend this cover to items that you need to take off of your premises such as PDA’s or smart phones.
- Employee dishonesty cover - Although you often think you know the people you employ, people can sometimes surprise you, so unfortunately another optional extra worth considering is theft of stock or money by employees.
- Refrigerated and frozen food cover – This sometimes comes as standard, depending on the policy you chose, but if not it can often be added as an additional cover option to ensure you get the protection for all the items you need.
- Glass, lock and signage cover - Depending on your business needs, we can often include cover for shop window replacement, signage damage and lock replacement to minimise any business interruption and expense following an accident, while they get repaired or replaced.
- Vehicle and goods in transit cover – If you transport your stock between locations, or deliver items to customers, you should ensure they are covered for accidental damage, loss or theft of these items on your policy. In addition, you should make sure the vehicle you use is covered for business use.
- Business interruption insurance – This will cover any shortfall in profit for any periods when you cannot open your business, such as when your premises have been damaged or you are waiting for a shop window to be replaced.
- Legal Expenses Cover – Cover for the cost of legal advice and court costs where required, for example, for an employee tribunal or contract disputes.
Buy what you need today
We know that thinking about all the different things that could go wrong is not always as easy as it may initially seem, yet it is important to get your insurance cover right, particularly when your livelihood may depend on it. That is why we have experienced advisers at the end of a phone to help you through the whole experience, and to find you the right balance between cost and cover. To discuss your needs further, or to simply get our most competitive quote, please give one of advisers a call on 01227 285 540 or fill out the quick form above and we will call you back.