Getting the right insurance for your company is essential. Not all business is the same, and that is why, when it comes to the very important matter of business insurance, you owe it to yourself to arrange cover specific to your own business rather than taking an ‘off the shelf, one size fits all’ approach.
Here at Trevellyan, we take the time to listen to our clients to fully understand their business and therefore their insurance requirements. Dependant on your business there are numerous areas that need to be considered about the activities of your company and the services/products that you provide.
Things to consider:
Do you have employees? If you do then you have a legal requirement to have employers liability insurance in place to protect your company should an employee fall ill or get injured due to the companies negligence, Employers Liability insurance can cover the cost of damages claimed, legal fees and other costs associated with defending your company.
Do you provide a service for a fee? Professional Indemnity is a coverage that you should consider. Whilst it is not mandatory coverage for many industries when bidding for a contract, most organisations will expect and in some cases insist on a company/consultant to have Professional Indemnity in place.
Level of cover – Do you have the right level of cover in place. Whether you are buying Professional Indemnity or office insurance you need to assess the levels of cover and the exposure your company has. Talking to our brokers can provide you with peace of mind that your company has adequate coverage in place.
Type of cover – This may sound strange, but do you have the right cover for your needs and requirements. Are there exclusions/warrantees on your policy you don’t exactly know what they are excluding?