Business Insurance is an insurance package that you can customise to suit your business’s needs, and is designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage).
A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances. In addition, cover is available for public liability, tax audit, employment practices liability and statutory liability risks.
The best part is, there are so many cover options available, so you can tailor a policy to protect against the issues that your business may be most likely to face.
Regardless of the industry you’re in, the size of your business, or how long you’ve been operating, running a business of any kind involves a certain amount of risk. Business insurance transfers that risk to the insurer and can protect you against financial loss, which is an important part of being a responsible business owner.
Life is full of surprises – some good, others bad. Unfortunately, you can’t predict when things go wrong and could affect your business. It could be fire or storm damage; accidental damage; malicious damage; or theft. It could also be legal action taken against you following a third property suffering injury or damaged property.
If your business is not insured, the effects could be financially crippling to your business and could in some cases lead to the closure of your business for good.
This is where business insurance can provide protection and peace of mind. Having the appropriate type of insurance and level of cover can help you get back up and running sooner after suffering a loss caused by an insured event like fire or flood.