The importance of making sure you're correctly covered with regards to your business insurance

30 May 2023

Published in: Member News

---

An overview of the importance of making sure you're correctly covered with regards to business insurance by Think Insurance

---

Business insurance can protect you from financial losses in the event of an unexpected event. Unless, of course, you've mastered the art of Precognition, that unexpected event could come in many different forms. 

Getting the right business insurance is an important step in protecting your business. By taking the time to choose the right policies, you can help ensure that your business is financially secure in the event of an unexpected event. If you aren't correctly covered, in some cases this could mean that your business is left to pay the bill, which could majorly impact your business. 

There are many different types of business insurance available, so it's important to choose the policies that are right for your business. The type of insurance you need will depend on your industry, the size of your business, and the risks that you face.

Here are some of the most common types of business insurance:

• Public liability insurance: This covers you in the event that someone is injured on your property or injured as a result of your business activities.
• Professional indemnity insurance: This covers you in the event that a client believes you have made a mistake that results in financial loss for a client.
• Employers' liability insurance: This covers you in the event that one of your employees is injured on the job. This is also advised for organisations who have volunteers or work experience schemes in place. 
• Property insurance: This covers your business property in the event of damage or theft. With Property and Constructions costs rising it is worth protecting your asset.
• Business interruption insurance: This covers your lost income in the event that your business is forced to close due to an unexpected event.

Getting the right business insurance is an important investment for any business owner. It can help you protect your business from financial losses and keep your business running smoothly. If you're not sure what type of business insurance you need, it's a good idea to speak to an insurance broker like ourselves. We can help you assess your risks and choose the policies that are right for your business.

Think Insurance are an independent insurance broker based in Walsall, covering West Midlands with a face-to-service but also have clients nationwide, who we quote & communicate with via phone and email. 

We pride ourselves on ensuring customers get a fair premium, but most importantly get the correct level of cover, we do this is the following ways:

• We only use A rated insurers, to ensure they'll be there when you unfortunately need to make a claim. An 'A' rated insurer indicates an excellent alibility to pay claims. This also means we know our insurers, so once we've taken the details of your business and how it run's, we usually know who the best insurer will be to cover you with. 
• As we use more than one insurer, we can search the market to check we're offering a fair priced premium to yourself. 
• Unfortunately we visit so many businesses, who aren't correctly covered, and are completely unaware. As we're the experts in Insurance, it means we don't expect you to be, we like to offer a face to face service to go through your documents to check any exclusions and all details are correct.

If you have any further questions, please don't hesitate to get in touch with Molly Dunn at Think Insurance on 01902 234202 or mollydunn@thinkinsurance.co.uk