Who Needs Small Business Insurance?

Every business will need some form of insurance to protect assets and employees. As a business owner you will have a lot to manage but an important part of your business is being insured and having the right insurance.

If you’re just starting out and are currently operating a small business, then you’ll need to arrange for insurance in order to protect yourself should something go wrong. Finding the right cover shouldn’t be difficult, and here at The Insurance Octopus it isn’t. Our insurance specialists are on hand to discuss the different types of small business insurance you may need to consider for your business, but as a guide, here are the most common business insurance types:

Public Liability Insurance will cover you in the event of a person and/or if their property is damaged and it is deemed as the fault of the business.

Business owners that are at the greatest risk are occupiers of premises where by a 3rd party visit at leisure such as a retail shop, pub, club, hotel or sporting venues.

Product Liability Insurance will protect against financial loss as a result of a faulty product that causes an injury or bodily harm to an individual.

Product Liability is required by any company that manufactures, sells wholesale, distributes or retails a product.  The policy would be required to ensure the liability of safety of the product.

Professional Indemnity Insurance , also known as PI insurance, can be for businesses or individuals.  Indemnity insurance will protect against any financial or trading loss you can cause to a 3rd party from giving advice.

Professional indemnity cover is needed by many professionals such as accountants, management consultants, IT Companies or any company or individual that provides a service to a client for a fee such as an SEO Marketing Agency.

Events Insurance will prevent your business from losing money in non-refundable deposits if you have to cancel or delay an event that you have arranged.  Event insurance can also protect you from expensive court claims if an accident happens at the event or business function.

If you are a party planner or your business is hosting a dinner, off site meetings or corporate functions and charity events, then events insurance can be added to protect your business.

Business insurance is a big investment for any business owner and choosing the right product and package is important.  Here at The Insurance Octopus we will get to know your business and assess the risks that could be involved. We can then prepare a selection of comparison quotations that will suit your requirements.

Why not get in touch today and find out the best small business insurance for you?