Insurance For Companies
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Employers’ Liability Insurance
You are required by law to take out this type of cover if you have any employees. It provides cover for claims brought against you by workers who have been hurt or become ill as a result of working for you. It is your duty to display your certificate of insurance or provide access to an electronic copy where employees can easily access it.
It’s not a legal requirement to have public liability insurance but it is advisable as it protects you if claims are brought against you for damages and legal costs resulting from injury, death or damage to property caused to members of the public by any of your company’s activities.
If you are in the business of selling your knowledge or skills, you may want to consider taking out professional indemnity insurance.
PI insurance protects your company against claims for loss or damage made by a client or third party if you make mistakes or are found to have been negligent in some or all of the services you provided. PI insurance will also cover legal costs.
Many professions are required to have PI insurance cover as a regulatory requirement or as part of their professional authorization. This includes solicitors, accountants, architects, mortgage intermediaries and insurance brokers. Many consultants, advertising and PR agencies, and designers also choose to have this type of insurance.
Building professionals and tradesmen need more than a standard, off-the-shelf policy.
Using a simple form, you can build a policy to your own specification using a combination of covers, and then choose from a range of quotes. You will be helped to get the right tradesman insurance at the right price.
Insurance for shops can be quite complex, as it covers a variety of risks. Because you are in personal contact with customers and suppliers, public liability insurance should be a priority. However, there are a few other equally important shop insurance covers to consider as well.
Restaurants can be high risk environments, both for customers and for employees. Even the most stringently applied health and safety procedures can’t prevent accidents from happening occasionally. For this reason, it is important to have restaurant cover.
Landlord insurance in the UK is a policy that covers a house, flat or commercial property owner from financial losses connected with rental properties.
Is It Illegal Not To Have Business Insurance?
If you employ people, you are legally obliged to take out employers’ liability. Most businesses are not required to take out insurance for their companies under law – but this certainly doesn’t mean you should not do it anyway. Company insurance helps you to maintain a stable, safe business. Just as importantly, it can be a prerequisite for securing contracts. Many clients will require you to have certain covers, and many trade bodies will demand that their members are properly insured.
Peace Of Mind
Public liability insurance policies give people like you the peace of mind of knowing that you are properly covered so that you can concentrate on running your business!
Act Now! Get Company Insurance
An increasing number of people have now recognized the tremendous benefits of liability insurance and are now electing to purchase insurance as a way of protecting their interests. If you have not yet thought about how you would afford the expenses that might be incurred in the event of someone launching a compensation claim against you, it is certainly time to do so.