Business Insurance
Having the right insurance will help protect your business and minimise its exposure to risk. This may include insuring your business, your income and your commercial risk
What is Business Insurance?
A business takes years to build – but an accident or disaster could destroy it all in minutes.
That’s why businesses should help protect themselves with a quality business insurance pack.
With the right cover in place, owners can run their business with confidence, knowing that their premises, stock, equipment and reputation are protected by insurance.
What Usually Isn't Covered?
Exclusions, and the excess you need to pay, and limits of liability can vary greatly depending on your insurer and the requirements of your business.
Who Can It Cover?
Business insurance packs can offer general protection for a business, which may include cover against:
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Property Damage
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Business Interruption
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Theft
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Loss of Money
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Public or products liability
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Glass
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Transit
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Electronic/Machinery equipment breakdown
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General property (example, tools & laptops)
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Tax Audit
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Employee dishonesty
Goals, Planning, and Projections
Many startups dive headfirst into business without planning or creating a game plan.
They end up not knowing their target audience, not understanding their product unique value proposition, wondering how much they will need to start the business, and worst of all, not knowing how much profit the business will make!
We recommend that our clients prepare a 12-month profit and cash flow projection to allow them to predict the success of the business before starting.
Without this, you're basically flying blind, hoping and wishing that you end up in the right place.
Case Study
Rohan owns a shop in the city. One night a water pipe bursts, flooding the building and damaging his stock.
Even worse, the building must be evacuated and renovated to repair all the water damage. This means that Rohan is unable to trade for six weeks. Rohan’s business insurance covers the cost of the renovations.
And, because he has business interruption insurance, he receives a pay-out to cover the income lost while he’s unable to trade.