Are you starting a new business from scratch? If so, you will find it a very exciting time, but also one that is fraught with difficulty. Your business needs protecting from risk in the first few months of its life more than any other time, and the way you can do this is by choosing the right insurance policies to take out.
A few different types of insurance policy are available for start-up businesses to make use of. Unless you have lots of spare cash to spend on insurance premiums or you have many concerns, it isn't necessary to take out all of these policies. Instead, you should take out only the most important and relevant policies for your business.
Before you get any other type of cover, you need to take out a buildings and contents insurance policy that is specially designed for businesses. Unless you have this policy, you could end up out of pocket if any of your main assets are damaged or stolen.
If your new company has employees, even if it's only a friend who helps you on weekends, then you will need to take out employers' liability insurance. This policy, which is a legal requirement for businesses with employees, will pay out any compensation owed to an employee if they become injured or ill at work.
Public liability insurance is similar to this policy, but it is not a legal requirement. However, it can be very useful, as it covers compensation owed to members of the
Before you get any other type of cover, you need to take out a buildings and contents insurance policy that is specially designed for businesses. Unless you have this policy, you could end up out of pocket if any of your main assets are damaged or stolen.
If your new company has employees, even if it's only a friend who helps you on weekends, then you will need to take out employers' liability insurance. This policy, which is a legal requirement for businesses with employees, will pay out any compensation owed to an employee if they become injured or ill at work.
Public liability insurance is similar to this policy, but it is not a legal requirement. However, it can be very useful, as it covers compensation owed to members of the
If your new company has employees, even if it's only a friend who helps you on weekends, then you will need to take out employers' liability insurance. This policy, which is a legal requirement for businesses with employees, will pay out any compensation owed to an employee if they become injured or ill at work.
Public liability insurance is similar to this policy, but it is not a legal requirement. However, it can be very useful, as it covers compensation owed to members of the public if they hurt themselves on your premises.
Have you thought about what you would do if a disgruntled customer were to sue you for providing a bad service, or for giving bad advice? In this circumstance, you would need professional indemnity insurance to protect you and to cover any damages payments you are liable to pay.
About the Author:
Public liability insurance is similar to this policy, but it is not a legal requirement. However, it can be very useful, as it covers compensation owed to members of the public if they hurt themselves on your premises.
Have you thought about what you would do if a disgruntled customer were to sue you for providing a bad service, or for giving bad advice? In this circumstance, you would need professional indemnity insurance to protect you and to cover any damages payments you are liable to pay.
About the Author:
Beverley Jane is a widely respected writer who has been writing for 5 over years often writes on Professional Indemnity Insurance and a wide range of other subjects.