17/04/2020 0 Comments
Commercial Insurance Policies You Need to Know
No matter what kind of business you own, you will need to purchase a number of insurance policies to ensure that you, your property, your staff, and your resources are protected from potential future damage or loss.
Different commercial insurance policies can be combined depending on your business needs and requirements. It is important to shop around and compare the different levels of insurance available to you. Different policies will cover different aspects of your business and will also vary in price and benefits.
Commercial Property Insurance
Commercial Property Insurance protects landlords and owners of commercial, industrial and other business properties from building damage. Property insurance also includes contents cover, commercial lease protection, loss of rent, and a host of other benefits. If you own multiple properties you can avail of insurance that covers your investment portfolio. If you own a portfolio of residential properties for rent then you can avail of Residential Property Insurance.
In commercial scenarios, there are two types of liability insurance.
1. Employer's Liability provides cover in the case that you become legally liable to your employees for Injury/death/diseases and/or damages, expenses and costs which occurred during the course of their employment with your company.
2. Public Liability protects you if you become legally liable to a member of the public for bodily injury/death/diseases, damages, expenses and costs and/or damage to their property following an accident in relation to your business.
Business Specific Insurance
If you need to avail of multiple insurance policies you can create a customised policy that will cover all aspects of your business in one place and is specific to your business type and industry. Whether it's pub insurance, retails insurance, restaurant insurance, or office insurance, a combined insurance policy provides the most comprehensive level of cover. For example, if you own a pub, your insurance policy can cover the building, your equipment, your staff, personal accidents, assault, loss of licence and public, and anything else that requires protection.
More Commercial Insurance PolicesOf course, there are many other kinds of commercial insurance policies that you may need depending on your business. The can include:
- Fleet Insurance
- Contractors All Risks
- Tradesmen Insurance
- Tradesmen Insurance
- Professional Indemnity