Small Business Insurance – What Covers Do I Need?

If you have your own small business one of the most important expenses is small business insurance. Without being properly protected you face all sorts of financial risks which could threaten your livelihood and even spell the end to your trading.

It can be difficult to find the exact cover that you need for your company – many firms create packages on a ‘one size fits all’ basis which can leave smaller companies out of pocket and paying for cover which is simply not necessary. To avoid this happening it is worth seeking out a firm who is able to offer packages designed for all different types of businesses such as The Insurance Octopus.

Do You Have the Correct Small Business Insurance Policy in Place?

The type of small business insurance you need will be taken into consideration when you deal with business insurance specialists like those at The Insurance Octopus. It is possible to have a policy created specifically for your line of work. It is possible to find insurance for all sorts of businesses including but not limited to:

Whether you’re builder, a roofer, a cleaner or something in between, it’s important to consider tailored insurance such as tradesmen liability insurance, tradesman tool insurance, and cover for working at height, with heat or at a depth cover.

Some of the most important policy covers to consider if you own a small retail shop are building insurance, contents insurance to protect your stock, and different types of liability insurance – such as Employer’s Liability – to protect against legal action brought by your employees or customers.

One cover to consider if you run an office-based business is commercial office insurance which is able to protect you from the cost of loss, theft or accidental damage of equipment that’s vital for your business to remain operational. Employer’s Liability, Public Liability and Product Liability may also be applicable.

Many internet traders trade from their home and automatically presume their home insurance will cover any damage to equipment or stock – this is not always the case. If you hire additional help you may need Employer’s Liability Insurance by law, and it may be worth considering Goods in Transit cover too which can protect you if you regularly use your van or pickup to transport goods for your business.

If you are wondering what small business insurance is required for you it is best to ask the experts.

Why pay more for cover than you need to? For more information and to find answers to any questions you may have regarding your business, get in touch with the dedicated team here at The Insurance Octopus.