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Is Your Business Fully Insured?

Now might be a good time to check.

Photo by Ylanite Koppens from Pexels

2020 has been a devastating year for many businesses, with countless companies facing hardship and struggles as a direct result of the coronavirus and Covid-19 pandemic. This really has been the year that many businesses have realised the importance of planning for the unexpected, no matter how unlikely the events may be. Being as prepared as possible for any situation that your business may face could significantly reduce struggles down the line if unforeseen events or changes do occur. Now, there are countless ways that you can plan for the worst and protect your business. But perhaps the most important and one of the most effective things you can do is take out insurance. There are a number of different policies you can try out to protect yourself against various different things. Here are a few that you might like to consider!

General Liability Insurance

No matter what kind of business you’re running, what services you’re providing, or what products you’re selling, general liability insurance could prove extremely beneficial for you. Put simply, it is a policy that could help to protect your business from claims made by customers. These claims could include bodily injury, personal injury or damage to property. If someone were to become injured as a direct result of a mistake you have made, general liability insurance will cover their medical costs, repair and replacement of damaged property or even costs that they have incurred through you or one of your employees’ slandering them. These costs, of course, could seriously mount up if you didn’t have an insurance policy to cover them. This type of policy really can prevent you from incurring huge costs through claims that could ultimately see your business go bankrupt if you didn’t have this policy. You can find some great options at Simply Business.

Commercial Property Insurance

Chances are your business has some sort of commercial property. Whether that’s a traditional brick and mortar store, an office space that you and your employees work from, a warehouse, a storage unit, a factory or any other property that your business operates from. It’s important to protect your commercial property from the vast number of threats that face any commercial property. These could include, but are not limited to, vandalism, theft, accidental fire and environmental disasters such as flooding or falling trees destroying property. Being able to claim the cost of damage, repairs and replacements will help your business greatly during these times of need.

Gadget Insurance

It’s highly likely that you and your staff use computers, laptops or smartphones on a daily basis for work. If you were to lose, break or otherwise be unable to use these devices, it would be costly to replace them but impossible to run your business without them. So, insure them so they can be repaired or replaced as needed.

These are just three different types of insurance that your business could greatly benefit from. It’s better to be prepared for any situation that life could throw at you!

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