Contents cover – If you business holds any type of stock you might consider business contents insurance. Plant and business equipment – Much like contents insurance, you can insure your machinery or business equipment.
Goods in transit cover – This is a popular insurance if you are looking to dispatch high net worth items. The post office always asks the value of your item being sent. Goods in transit cover operate in the same way.
Business interruption insurance – The riots in London in 2011 resulted in claims for disruptions to your business. Claims for loss of income and expenses would be likely.
Public liability insurance – This is a very common policy that covers your business from damages to members of the public, either for death, injury or property damage.
Product liability insurance – If you sell a product you need to consider carefully whether that product may harm an individual due to defects or negligence in manufacture. If so, you need to talk through the risk with your legal adviser. Pollution risk insurance – Pollution is taken very seriously by the Environment Agency.
Directors and officers insurance – Company directors and officers have specific duties and responsibilities, for which they can be held responsible. Directors and officers insurance provides cover for compensation and legal costs, if they are found to have inadvertently acted outside their terms of reference.
There are differences in the legislation depending on which part of the country you live in. If you live in Scotland or Northern Ireland you should check local laws. Most businesses require some types of Managing risk is part of this process. Arthur Savage provides a range of insurance for small business services that will help you analyze and decide the cover the best suits your needs.