For peace of mind, please carefully consider whether your business needs insurance.
It is one of those costs that sometimes can be 'saved' but then prove costly later. The types of insurance that you may be applicable are: Public Liability (essential if you are dealing with members of the public), Employers Liability, Professional Indemnity, Key Man, Director's Insurance, Equipment, Buildings & Contents Cover, Motor Insurance, Goods in Transit, Legal Expenses Insurance.
Speak to a reputable broker if you are in any doubt.
Starting up your own business?
If you are starting a new business, or already running a small business that is growing, finding a commercial insurance broker you can trust is essential. We will help you put the most appropriate business insurance in place to ensure your new company is secure in the case of any incidences that may arise.
At Finch Commercial, we have access to a wide range of small business insurance products as well as a dedicated team who understand the pressures you face with your fledgling business. Whats more, we also have access to specialist insurance policies not available to many commercial insurance brokers.
So, whether you are a sole trader, a partnership or a limited company we can help ensure your new business is covered. Why not get in touch now?
Small Business Insurance
Not all businesses are the same and we have the experience and understanding to ask the right questions to make sure your new business is covered, whether you have a fixed base, or if you spend time out of the office. This includes:
* Small business insurance policies that cover your assets (computers, etc.)
* Employers liability insurance, which is a legal requirement if you have any employees. This covers you for employee illness, injury or death that have been caused with liability to your business.
* Public liability insurance to cover you against any accidents caused to people or property not belonging to the business.
* Professional indemnity insurance to cover you against any claims from people or other businesses relating to the work you do.
* Directors & Officers Liability to cover company managers for claims which may arise from the decisions and actions they take in running the company.
Your Small Business Commercial Insurance Brokers
At Finch Commercial Insurance Brokers Ltd we pride ourselves on our personal service to the businesses we work for and when it comes to small businesses we know a lot can change fast. So, we make sure we stay in regular contact.
If your small business grows quickly, you may find yourselves under-insured or with a small business insurance policy that doesnt match the current position of your company. Through close account management we work with you to ensure this doesnt happen and that you have adequate and relevant business insurance cover at all times.
Get in touch; our experts are here to help.
For more information please contact Simon Dicks on 0118 9186692 or email firstname.lastname@example.org. Alternatively, visit us at www.finchgroup.netcommercial-insurancestartups
Business Insurances Explained
Ensuring a new business needn’t be complicated and a little time spent planning what needs to be arranged from day one, will avoid unnecessary problems in the future.
If like many start-ups you are going to work from home, you will almost certainly find that any existing car or household insurances will need to be upgraded or changed.
Your policy will need to be extended to include business use – even if the only business journeys you make are to the post office. Motor insurance is a compulsory insurance, so it’s important to make sure that the cover you have is right.
Household insurance (Buildings and contents)
Whether insured separately or together you will need to let your existing insurer know that you are working from home. However your household policy will not be suitable for business purposes, regardless of whether customers or clients visit your home. Separate arrangements will need to be made, although many insurers are now able to offer specialist homeworker insurance policies that can combine both personal and commercial insurance needs.
Of course if you are letting out your property, you will need to arrange a Landlords insurance policy as a household policy simply won’t do.
Whether working from home or from business premises, it’s important to insure your property, especially your stock and computers. If you have any portable items like phones and laptops, don’t forget to arrange insurance for when you take them outside.
Employers Liability insurance
If you intend to have employees, the law requires that you arrange Employers Liability insurance.
Public and Products Liability
Whilst not required by law, should be considered a must and you may find that many of your clients insist that you have the cover.
Professional Indemnity insurance
If your business is a service rather than the supply of a product, Professional Indemnity insurance should be considered. You might find that your clients insist that you have this cover and if you choose to join a Trade Association, it may be a condition of membership.
Business Interruption insurance
If you should be unfortunate enough to sustain a loss such as a fire, flood or theft at your premises, then there are likely to be significant costs keeping the business going and replacing lost profits. Business Interruption insurance should be seen as a must and the level of cover and the period of interruption that it covers, should be carefully selected.
- Money Insurance
- Goods in Transit Insurance
- Legal Expenses
- Directors & Officers
- Personal Accident
Combining different types of insurance cover under one policy, may work out cheaper and can avoid gaps in cover.
Check any contracts that you are asked to sign to see if insurance is a requirement and at what level, especially for Public Liability and Professional Indemnity insurance covers.
Some insurance providers offer interest free monthly instalment facilities so do ask what’s available – great for helping with your cash flow.