Small Business Insurance: What Does Your Business Need?


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Just as there is no one single business, there is no one single business insurance available to cover it. Every business is different and so the insurance cover needed can differ greatly from one to another. Here are some of the main ones to consider for your business:


Public Liability Insurance

Does your business have any contact at all with members of the public? This can be within your own premises or out on location somewhere. If so, you need to protect your business from any potential compensation claims or legal action by the public against it. By ‘the public’, we don’t just mean clients and customers, but any third party that might somehow be affected.


Employer’s Liability Insurance

If you employ staff than you are required by law to have an Employer’s Liability Insurance Policy in place. This will help to protect your business against claims of injury, illness, or damage that may have arisen or been caused by it.


Product Liability Insurance

If your business provides products, you will need this cover. If anything you sell turns out to be faulty, causing issues to a customer, this insurance is what will keep you covered.


Stock Insurance

If your business relies on stock, insuring it against loss in the event of destruction or theft is vital. Otherwise, your business can find itself out of products, out of pocket and out of customers.


After the Event Insurance

Not heard of it? You might be glad you did. After the Event insurance deals insures your business retrospectively, helping you with legal advice and help for something that has already occurred, that you aren’t already insured for. More thorough information on this cover can be found here at Palladium Insurance.




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