Small Business Resource

While most businesses will be familiar with the need to have employers’ liability and public liability insurance, getting the right cover for your premises can be just as important. Buildings insurance ensures that the place where you do business is protected against disasters such as fires, floods and lightning, and may also provide cover against malicious damage and losses caused by riots and civil unrest. This limits the financial impact and enables your business to recover more quickly when incidents like this occur.

If you are the mortgage holder of your business premises, it is likely that your mortgage provider will already require you to have some kind of building insurance to protect the investment. A professional surveyor should be used to assess the value of the property so that you know you are paying the right amount – if you do not cover the property adequately, you may not be able to claim enough from your insurer to restore it to its original state if it gets damaged.

Business owners should also consider the value of contents insurance for their enterprise, as so many firms now depend on office equipment such as laptops, printers and scanners.