Keeping your business protected from unforeseen events is imperative to any business owner and the overall welfare of their company.
There are numerous areas that any good insurance provider should cover for you and your business. To give you a general idea of these areas, we’ve put together seven areas that any insurance provider should cover for businesses.
1 . Fire and perils
This insurance aims to protect your business from any damage incurred due to occurrences such as fires or other perils (storm damage, malicious damage, earthquakes, etc.). Your insurance provider should provide you with the monetary (financial) means to repair any damage.
2. Burglary / theft
Burglary / theft insurance aims to protect your business in case any theft occurs. Typically it will only cover your any goods that are stolen from within the premises of your business property. It protects by reimbursing you for losses either through a replacement product or monetary value to help you replace stolen goods.
If any damage is done to your property during a burglary, insurance should also help cover the costs of repairs to broken windows, locks, doors, etc.
If your money happens to be stolen through theft or an armed hold up or damaged/destroyed as the result of an event such as a fire, this is where money-related insurance comes in. This type of insurance can cover any loss regardless of whether on your premise, at home and even in transit).
4. Fidelity Guarantee
A fidelity guarantee (An Employee Dishonesty Cover) seeks to protect your business in the event you suffer direct financial loss due to acts of fraud or dishonesty by your employees. This is great insurance to have if you have employees that are handling assets such as money or stocks within your company.
5. Business Interruption
This insurance intends to keep your business supported during times of unplanned interruption caused by events such as floods or fires (fire or storms). During this time, your insurance provider can help you keep your business afloat by helping you keep up with financial obligations.
7. Industrial Special Risks
Like special contingency insurance, industrial special risks insurance is designed for larger organisations. This insurance includes almost all forms of insurance cover that protect your property from loss or damage be it profits, accidental damage, burglary, etc.
If you would like to find out more about the types of insurance Regional Insurance Broker can help you find for your business, visit our website or call us on or visit our contact us page to find your nearest insurance broker.