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Business Insurance

Business Insurance

Business insurance is insurance that is intended to protect a business rather than the needs of an individual. There are many different types of business insurance available today but which one is right for you and your business? And what does it all mean? Here are some explanations to some of the legal terms used:

Negligence - means failing in your 'duty of care' to your client, this can include giving incorrect advice or making a mistake.

Intellectual property - infringing copyrights, trademarks or broadcasting rights this includes passing your product off as someone else's or imitation.

Professional indemnity business insurance - this insurance protects you for sums you have to pay as compensation to your clients because of problems with your work.

What can you insure your business premises against?

Your buildings and / or contents can be insured against:

  • Fire
  • Earthquake
  • Aircraft
  • Riot and malicious damage
  • Storm
  • Flood
  • Escape of water
  • Impact
  • Subsidence
  • Theft involving forcible and violent entry or exit Other damage of an accidental nature

Business Interruption Insurance

Business Interruption Insurance covers Loss of Trading Profit due to interruption caused by an insured event for a selected indemnity period, usually minimum 12 months.

What information do I need to obtain quote for business insurance?

You will be required to give some or all of the following information in order to obtain a quotation: