It is the responsibility of the employer to keep their employees feeling safe and happy. Here are seven types of insurance that you must have for your business. This coverage does not cover discrimination or sexual harassment claims for that you’d will need an Employment Practices Liability Insurance. If however, your vehicle is used for business purposes the majority of the time (for example if you run a courier service) you will require a different type of car business insurance, termed commercial insurance.
Her Majesty’s Revenue & Customs are indeed a thorn in the side of modern businesses, their tax laws and implementations providing boundaries, guidelines and in some cases barriers against some of the flexibility of professional companies. However, this will result in your insurance policy becoming void, leaving you open to extreme financial damage in the unfortunate event of a claim against your business.
In case of compensatory damage claim, financial losses of the third party due to an injury will be covered. There usually is no coverage for foundations and underground infrastructure for property policies. Typically a small business requires increased coverage limits of auto insurance compared to your own personal auto policy.
Business interruption insurance will help your business recover from natural disasters. For example, commercial fishing businesses have their own insurance needs, as do inland marine businesses, home builders or contractors, delivery services and other businesses using commercial vehicles, and on down the line.
As with liability insurance it is easy to find providers online who will offer comparative quotes for both buildings and contents business insurance for much commercial property. It simply covers all the most common lawsuits which arise from daily business activities such as interacting with customers, renting of property, and relating with clients.