While nobody likes to think about it, things can and do go wrong when you’re in business, no matter how cautious you are. An employee could get hurt on the job. An unhappy customer could sue you. Or a burst water pipe could flood your premises and damage expensive equipment. (more…)
Key Business Insurance Guides
If you’re setting up your own business, you’ll no longer have to answer to an employer or put up with many of the annoyances of being a permanent employee. But, what about the ‘perks’ you might have enjoyed in your previous life as a member of staff?
For people who have been lucky enough to receive group medical insurance from their employer, this is probably the most significant benefit to do without. So, what is the best way to take out health insurance if you run your own business?
Tax investigation insurance will protect you in the event that an enquiry is made into your tax return, or via a PAYE compliance visit. In some cases, this could result in a Tax Tribunal.
If you are in business, or are starting up a new venture, and are providing any type of professional service to clients, you will need to look at taking out Professional Indemnity Insurance cover.
Professional indemnity insurance, or PI insurance, as it’s often called, is an insurance policy that will protect you from claims made by clients who are not satisfied with the work you have done for them. (more…)
Contractors and consultants provide professional advice and services to clients and as such, might well be liable for any mistakes or errors they may make in the course of their duties.
As a result, contractors should take out insurance cover just in case something goes wrong. In many cases, clients will insist that a contractor is covered by a professional indemnity policy before hiring them.
As with owning a car, you are legally required to take out certain insurances when running a business. If you don’t you can be fined heavily and could put your entire operation at risk. It’s also sensible to have some of the many optional business insurance policies available to cushion you from nasty shocks.
If you’re reading this, there’s a good chance cyber security is already on your radar. That’s a good place to have it, because cybercrime is relentlessly on the up.
Data breaches, phishing scams and ransomware attacks fill the digital headlines. All of which begs the question: How do you protect your business from hackers and their devious, money-grabbing, data-stealing ways? (more…)
Public liability insurance will protect your business if you cause an injury to a member of the public, or property belonging to another business or individual.
You should consider taking out public liability insurance if members of the public visit you at your place of work, or if you perform work at places of work owned by third parties. (more…)
Making the decision to become self-employed can be daunting, especially if you’ve been an employee on a regular salary with all the perks that can bring, like a pension, holidays and sickness pay.
The transition from this relative security to going it alone is not always easy, but there are steps you can take to help protect you financially should the need arise, allowing you to concentrate on growing and developing your business. (more…)
Employers liability insurance is a type of business insurance policy that virtually all firms employing someone must take out.
The fines for not having a suitable policy can be huge, so here’s what every business owner needs to know about employers liability insurance. (more…)
More small business owners are working home than ever. However, one thing that many people don’t think about with their home-based venture is insurance. Existing house insurance policies are designed to cover domestic arrangements, and may actually be invalidated by you working at home.
As a company director, there are certain demands placed on you – not least the requirement that you act at all times in the best interests of your company.
So what happens if something goes wrong? (more…)