Business Insurance 2017-03-28T12:16:59+00:00

BUSINESS INSURANCE

What is Business Insurance?
Business insurance, commonly referred to a “Business Pack”, provides business and property owners with a range of different covers under a single policy. It is a highly flexible form of insurance and can be tailored to meet the specific requirements of your business.

Who needs Business insurance?
If you are a business or property owner, and don’t have an Industrial Special Risks policy, you need Business insurance with at least one form of cover.

What does Business insurance cover?
Business insurance provides cover for the following risks:

  • Property – damage to your buildings, contents and stock caused by fire & other listed perils
  • Theft – theft of your contents or stock from your business premises
  • Money – theft of money either from your business premises, in transit or at your private residence
  • Glass – breakage of internal and external glass including signs.
  • Employee Dishonesty – fraud or dishonest acts by your employees
  • General Property – loss or theft of your business items, including tools, that are regularly taken offsite by you or your employees
  • Electronic Equipment – fire, theft, accidental damage, breakdown and business interruption cover for computers and electronic equipment
  • Tax Audit – costs incurred by your accountant or registered tax agent in conducting an audit or investigation in relation to your liability to pay tax

As you can see, there are a number of coverages available within Business insurance, some of which may, or may not, be relevant or required by your business.

How much Business insurance is enough?
This will ultimately depend on your business’ particular circumstances. For example, if you are a property owner and the replacement of cost of your building is $2 million, then you will require at least this amount in Property damage. Not to mention some Public Liability insurance. If however, you are a business owner and renting your business premises, you might require cover for Contents, Stock, Glass, Public Liability and Tax Audit.

For more information on Business insurance and the important role it can play in protecting your business, please contact us via the form below.

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