Searching for the correct kind of business insurance can feel like a daunting task at first, however, there really is no need to worry. Employing the services of a reliable commercial insurance broker should go some way to alleviate this stress.
So when it comes to business insurance where should you start? Well, did you know that as an employer you are required by law to take out employers’ liability insurance? With this in mind, this may well be the first thing to take into consideration. Failure to take out such a policy can in some cases lead to a substantial fine. This type of insurance will offer protection in the unfortunate instance of one of your staff suffering an injury whilst working for you. This insurance can also cover legal expenses and compensation if you are found to be liable.
It may not always seem that obvious at first but contents and property insurance should also be taken into consideration. Sadly, thefts in the workplace are not all that uncommon, and fire damage could be a possibility. Ensuring that you are covered can deliver some peace of mind.
It is worth noting at this stage that building insurance does not always offer you protection from damage when the cause of the matter may be due to a construction or design error. For those in newer premises, you may want to consider opting for Latent Defect Insurance. This type of insurance is designed to cover any costs that the policyholder may incur when a property has been affected by damage attributable to defect in the design, workmanship or materials.
It seems as if there are an awful lot to take on board, however, as mentioned above there are a number of benefits to seeking professional advice from a reliable commercial insurance broker such as us here at Watson Laurie. We can take care of all your insurance requirements so that you only have one broker acting on your behalf. Keeping things simple when it comes business insurance has never felt easier.