As your business grows and expands, so too does the need to protect your brand, employees, customers and assets. There are many different types of business insurance that will help keep your business running, no matter what the future may bring.
Types of Business Insurance
Business insurance products are many and varied, with general policies to cover the basics, right up to industry-specific insurance for your particular sector. In general, there are a few types of business insurance that most companies will need, including:
Public Liability Insurance – protects your business against claims for damage to property or accidental injury from your customers, visitors or people who you visit. No matter how careful you are, accidents can happen, so it is important that you are protected from compensation claims which could be very costly to your business, not to mention damaging to your brand.
Professional Indemnity Insurance – protects your business against claims from customers that you have made a mistake with or given bad advice. For businesses that are members of certain professional organisations, professional indemnity insurance is compulsory, so it is wise to speak to your insurance providers to find out more about the cover they can provide for your profession.
Employers Liability Insurance – as soon as you become an employer, you will need employer’s liability insurance. This covers your business against work-related illness or injury claims from your employees. Failure to insure your business correctly or display your up-to-date employers’ liability insurance certificate can result in your business being fined. Insurance doesn’t only cover your full and part time employees, but also those contracted by you on a self-employed basis, temporary staff, apprentices and volunteers.
Need More Information?
By using our Advised in Worcestershire professional services business directory, you can access a variety of Worcestershire based companies who can provide services to support your business. Click here to find out more.
Speak to Worcestershire Business Central today.