This message was added on Friday 5th January 2018
The first part of this blog about starting a business #startups 2018 focussed on starting a business from home. This final part looks at the sections of cover you will need wherever your business is based.
What am I doing - whether making and/or selling product or providing services impacts on the sort of Public and Products Liability cover you need. For service businesses look at Professional Indemnity to cover any unintended errors or omissions in the specialise advice you provide. All businesses should look at Cyber cover especially if the work involves e-commerce, holding client payment details or other client data to minimise the risk to your business (and its reputation) from hacking.
Where am I doing it - security of premises and the impact on your surroundings with noise, deliveries, customer visits. Insurers may have requirements re locks and alarms, and for hospitality businesses to minimise food smell emissions in addition to Health & Safety legislation to comply with.
Who is doing it - if you`re a sole trader and thinking of the future perhaps, Employers Liability cover is needed for businesses with 5+ staff other than family members.
What equipment do I have - under Contents insurers need to know sums insured for fixtures and fittings ie furniture and computers/electronic equipment. For items used away from premises ie Laptops and display stands these tend to be individually Specified so they have the wider cover they need.
What if my premises are damaged by a major incident ie flood or fire? Consider how and where you could trade if the worst happened? Business Interruption cover compensates you for lost revenue or additional costs incurred from having to trade temporarily elsewhere until things get back to normal.
For detailed help with your individual requirements, Reid Briggs Insurance Brokers are here to help you. Contact our friendly, experienced team on 01323 438843, email email@example.com or call into out offices at 49 South Street, Eastbourne BN21 4UT