What types of insurance should you consider?

For businesses there are three main areas where you need to consider the insurance requirements of your business. These are:

Insurances that protect against loss or damage caused to your business’ property or trade by adverse events.

Specific areas of insurance in this group may include cover for:

• Property – buildings and contents
• Engineering failure
• Theft
• Money
• Goods in transit
• Business interruption
• Trade Credit Insurance
• Motor vehicles
• Legal Expenses
• And a variety of other risks

Insurances that cover your business’s legal liabilities in the event of some aspect of your business causing damage or harm to a third party or their property.

Employers’ Liability insurance is compulsory by law, but other areas of liability that you may need to consider insurance cover for include:

• Public and Product liability
• Motor Vehicle liability

Insurances that protect both you or your employees against the consequences of serious illness, injury or death, and the effects these events could have on your employees, on their families, and on your business.

Areas of insurance you might consider are:

• Personal accident and sickness insurance
• Income protection insurance
• Private medical insurance
• Life insurance
• Pensions