Getting your business adequately insured is not always about legal compliance. Yes, certain types of Business Insurance such as Employer’s Liability Insurance and Professional Indemnity Insurance are compulsory as per UK law, if you own a particular kind of business. But as an entrepreneur, you must look beyond the ‘legal-lens’ to view important things like long-term security and viability.
Think of all the humongous efforts, time and money you have invested, in setting up and running your business. Very often, it happens to be our only substantial source of income. Doesn’t it make sense to keep this crucial source risk-free? Doesn’t it make sense to protect this investment on all possible fronts? After all, even one sudden, fatal blow can make all of your hard work fall apart like a pack of cards!
Insurance Customized For Your Business
We at Rhinosure can be your safety net by tailoring a business insurance that protects against unforeseen circumstances allowing you to continue running your business even through the toughest of times.
The right business insurance cover is one that has been tailored to meet the unique requirements of your business. No two businesses are alike, and therefore a one-size-fits-all approach is unsuitable for business insurance. While many factors determine what kind of cover would be suitable to protect your business, here are some that our insurers take into consideration when building a policy exclusively for you.
Getting the wrong insurance cover for your business is as bad as getting no cover at all. For example, a seemingly cheap cover might leave your core assets under-insured, and lead to insufficient payouts upon claim. Or if your nature of business does not involve any advisory or consultancy services, availing professional indemnity insurance might not be required. Another factor is that not all underwriters specialize in business insurance, and trusting a new insurer could be a roadblock in the long run.
Rhinosure has been collaborating with leading Business Insurers to facilitate bespoke covers to meet the unique criteria of every business. As UK’s top independent insurance broker, we utilize our expertise for all the researching, studying and negotiating with underwriters, to be done on behalf of your business.
Once you’ve gotten in touch with us, you can sit back and focus solely on your trade. We take the complete onus of giving you the best business insurance quotes, keeping your budget and all other important factors in mind.
While our expert team works at providing you with the most competitive quotes, you will certainly benefit from knowing about the various types of business insurance. Depending on the many business-centric factors, some of these are mandatory as per the law. And if you have any queries or confusion about what is applicable for your business, and what is not, please feel free to give us a call!
Public Liability Insurance
In the event of any member of the public coming in direct or indirect contact with your business, and suffering any loss, Public Liability Insurance Cover will shield you from compensation claims. The risks covered could range from as small as a fracture caused by tripping on the slippery floor of your office, to a full-blown accident or death on the premises.
Employer’s Liability Insurance
Irrespective of whether you have hired full-time, part-time employees or those on contract, you are legally bound to have Employer’s Liability Insurance. In the event of any employee getting injured or ill because of work, they are most likely to demand a sizeable compensation. Therefore, getting this insurance cover will keep you risk-free.
Professional Indemnity is yet another kind of Business Insurance which is legally required in case your business has a ‘consultancy’ or ‘advisory’ aspect to it. For example, trade consultants, architects, IT firms, Law Firms, etc. need to have compulsory Professional Indemnity Insurance.
If a client decides to sue you, it will cover all legal expenses and save you from massive losses paid in the name of compensation. If you are still unsure to whether you need to get professional indemnity for your business, do give us a call and we will sort things out for you!
Get The Best, Tailored Business Insurance Quote Today
Feeling lost with different categories and clauses of Business Insurance? Relax and request a call back today. We will negotiate on your behalf to get the lowest quote* for the best cover!
For shop owners, in addition to the above three categories of business insurance, a very critical aspect is to protect the stock within their shop premises. Some threats fall under this category of insurance such as theft, vandalism, accidents as well as natural calamities like fire, flood, hurricanes, etc.
Please note that general wear and tear of stock and damage to goods in transit are not covered by shop insurance. At Rhinosure, we understand that stock is mostly seasonal, and we can get you the best off-season discounts on your premium!
If your business is fully reliant on certain expensive tools or equipment, or there is some infrastructure that is vulnerable to damage, you should get the same insured on a long-term basis.