Small Office Insurance

A package policy is a product that offers the most common insurances required to run your business bundled together into one offering but gives you the flexibility to adjust the coverage to meet your specific needs. Package policies offer a number of benefits. You know the cover will be comprehensive enough to cover the main risks affecting your business whilst avoiding duplication and overlap of cover. A package policy is also easier to manage as you have a single set of documents, one point of contact and one renewal date. Packages are often less expensive than the sum of the individual policies as insurers will offer a reduced premium when they are providing all your cover.

If you employ anyone outside your immediate family, you are required by law to purchase employer's liability insurance. This insurance offers you protection for any liability arising from injury or illness sustained by employees while they are working for you. Furthermore, Public liability insurance will protect your business from any liabilities from a Third Party (other than your employees), bodily injury or damage to their property that may occur during the normal operation of your business. Product liability insurance is also available which will protect your business from any liabilities from a Third Party bodily injury (other than your employees) or damage to their property that may occur from products you sold or supplied.

There are several different insurances that are designed to cover your various assets (building, computer equipment, stock, or contents) from loss or damage caused by various events (fire, flood, theft or other disasters).

There are many other types of insurance available from business insurance providers that will cover against both material damage as well as the effects of interrupted business. Material damage as part of the insurance policy can cover the cost of various business related assets including the building, computer equipment, stock or contents. If the policy offers business interruption insurance, this will protect your business from the loss of turnover or trading profits arising from damage to your property that prevents the normal operation of your business. In specific circumstances it is possible for your business to be reimbursed for money that is lost or stolen from the premises, your home or whilst you are moving it to another location. If your business relies upon goods in transit, insurance is available that covers you for accidental loss, destruction or damage to goods in transit and the cost of alternative transport if needed.

The limit of indemnity is the maximum amount the insurance company will pay in the event of a claim being made. The limits are usually £1,000,000, £2,000,000 or £5,000,000. However, this can be increased to £10,000,000 and beyond if required.

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