Business Insurance explained
Business Insurance is something we all need but with so many out there it can be hard to understand what each one if and if you need it. So we are going to attempt to explain some of the core types of business insurance.
1. Public Liability Insurance – This is probably an essential cover for the majority of companies and covers any customer or member of the public for accidents, loss and injury. Minimum cover is usually £1million but if you are working on government contracts for example you may need a minimum of £10million
2. Professional Indemnity Insurance – This is in place to protect any of your clients who suffer a loss through your work for them. No matter how hard you work mistakes can always happen and claims can come from something as small as sending an e-mail to the wrong person. Usually cover would go up to around £5million.
3. Employers Liability Insurance – The only insurance that is a legal requirements if you have any employees and you can receive a fine of £2500 for every day your uninsured. It helps keep your business and employees safe and will cover your employees for any injury suffered during the course of their work. Claims can be as simple as tripping over a wire so it is important to make sure your business has this covered.
So head on over to our Business Insurance comparison page to get your quotes today!