What Kind of Insurance Do I Need for My Business?

I’m always happy to pass on great info, and this is great info! I’ve included a few snippets below lifted from the full article.

Common types of business insurance

Professional indemnity/liability

Protects you from legal action taken against you if someone suffers a loss after following your professional advice or as a result of your receiving your service.

Property

Covers damage or loss to buildings, contents and stock caused by insured events and accidental damage.

Public liability

Covers your business for legal costs and compensation costs that you might have to pay if you are found liable to someone because you caused death or injury, loss or damage to their property, or economic loss due to your negligence.

Calculating premiums

Each business is unique. Premiums will vary depending on the nature of your business, the risks the business is exposed to, the insurer and the product’s inclusions and exclusions.

When calculating your premium, the insurer will take many factors into consideration. These factors may include, but not be limited to:

• Type and location of business activities
• Nature of the business
• Size of the business, including the number of employees, premises and business income
• Claims history

Do you need more detail on this subject? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at [email protected]; or call me on (07) 3243 0000.

Thanks,

Mark