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How does business insurance work and protect me?

Date Added: November 18, 2011 07:23:14 AM
Category: Insurance directory

How does business insurance work and protect me?

When setting up a business. Advice from your local insurance broker should be sought as to whether which combinations of insurance policies are mandatory and which are optional. Legal responsibility makes the following types of insurance compulsory:

•    Employer’s liability insurance
•    Public liability insurance

Employer’s liability insurance covers for essentially:

•    Protecting hired staff
•    Protecting temporary workers and staff
•    Protecting the employees
•    Providing protection against claims for personal injury, accidents and illness

Public liability insurance covers for essentially:

•    Any claims for damage against third party or other properties
•    Any claims from the public for injuries or accidents

Other insurance to consider with your insurance broker:

•    Contents insurance
•    Legal expenses insurance
•    Private medical insurance
•    Professional indemnity insurance
•    Car, van and equipment insurance
•    Gadget insurance
•    Tools cover

The insurance broker should be able to recommend the limits of cover required for the size of the business you are running based upon your:

•    Number of cars, vans and other equipment
•    Number of employees
•    Owned or rented property
•    Turnover
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