by
Chris Brown
on August 8, 2016 Comments Off on What other types of business insurance are recommended?
Liability Insurance protects you against risk of compensation claims and legal action from your customers and the general public, when you or your employees have done something wrong, failed to do something you should have, or broken the law.
Buildings and Contents Insurance provides financial protection for your property, stock and business equipment from events such as burglary, fire or flooding.
Business Interruption Insurance is a further level of protection which provides financial assistance for the period when you are unable to conduct business as normal because of this damage. E.g. cafes, hotels or shops that have to close whilst repairs are undertaken as a result of a flood.
by
Chris Brown
on August 8, 2016 Comments Off on What business insurance is required by law?
By law a business is required to have:
Employer’s Liability Insurance
Third Party Motor Insurance
Employer’s Liability Insurance
If your business has employees, you are legally required to have Employer’s Liability Insurance
Employer’s Liability Insurance covers you if an employee is injured at work, or becomes ill as a consequence of the work they do for you. By law your insurance must cover at least £5m.
Motor Insurance
A business uses motor vehicles it is legally required to have Third Party Motor insurance. This type of insurance covers damage to persons and property as a result of a collision caused by either you or your employee. This insurance must cover at least £1m for damage to property and an unlimited amount for personal injury.
Specific policies are recommended where a motor vehicle forms a core part of your business, for example taxis, coaches, farm or construction vehicles.
by
Chris Brown
on August 8, 2016 Comments Off on Why do I need business insurance?
Every business needs insurance to protect itself from a wide range of risks it faces every day. Insurance allows you to put in place system to control these risks and stop them from becoming serious setbacks.
If and when problems do arise, by having insurance in place you have the financial assistance to continue doing business and get back up an running again through replacement, repair or reinstatement.
By continuing to use the site, you agree to the use of cookies. more information
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.
