It makes sure you’re protected if an employee is injured on your premises or becomes ill and they claim it’s because of something that happened at work. As well as full-time employees, you might also need cover for part-time staff, volunteers and casual helpers. An employers’ liability insurance policy minimises disruption by helping with the costs of defending or settling a legal claim. Employment practices liability is slightly different and protects the managers of a business against employee claims.
Insurance policies come in packages, offering a range of different cover and optional extras. It’s important to remember that the cheapest quote isn’t always the best one, it’s about finding the right cover for you and your business. Finding the right policy shouldn’t be time consuming or complex. So whether you own a pharmacy or commercial property, get specialised cover, without the headache. Some businesses may also want to consider insuring against legal liabilities and buying life and health cover for staff.
When you set up a new business, taking out insurance might be one of the first things you do to ensure any property, vehicles, IT systems and liabilities are taken care of. 2 Based on AXA Business Insurance claims made between July 2018 and June 2019. Figures based on business insurance policies purchased direct through AXA Business Insurance online or over the phone. If you have premises – like a shop or an office – our business contents insurance will protect you up to the level of cover you choose.
This offers the reassurance that you’re covered as soon as you launch your business. However, it’s important to note that your insurance policy might be invalid if you begin trading before your trade licence arrives with you, meaning potential https://www.wikipedia.org/ claims might not be paid to you. Hiscox can also provide other types of commercial insurance, including legal protection cover and office and contents insurance. Taking out specialist insurance can be a good idea in some fields.
And when you’re ready to buy, you can pay annually, or to help spread the cost, you can choose to pay monthly . Get AXA’s award-winning home insurance online and protect yourself from major risks like flooding and fire. We have more than 800,000 customers that trust us to support them with their insurance by providing fast, flexible cover. You must get https://www.themotorettes.com/ Employers’ Liability insurance as soon as you become an employer – your policy must cover you for at least £5 million and come from an authorised insurer. Lloyd’s provides a comprehensive collection of tools and resources to support placing and underwriting in the market. Discover our suite of tools and technologies to support your business needs.
Remember to take into consideration, the value of your stock, shop front and contents. Professional indemnity insurance is also available to trades that also offer professional advice, like electrical contractors or heating engineers. With AXA, you can add a standard £1 million of professional indemnity cover to your business insurance. The cost of business insurance will vary depending on what type of business you are running, as well as the specific insurance needs of your business. The level of cover you need will ultimately determine the cost. If you’re a shop owner you may want a combination of these products to ensure you’re covered, including landlords insurancefor business use to protect your premises.