Most business insurance brokers will let you amend your policy at any stage. Some may however charge a small fee, whilst others will not. Provided you are able to meet the acceptance criteria for amending your policy then it will be possible.
Most insurance providers will offer you a 14 day cooling off period on your business insurance policy within which you will be able to cancel your policy without incurring any extra charges. All you will pay instead is for the time you have been covered. Then after the 14 day period, you will be charged a cancellation fee. Some insurance providers may have different cancellation periods however and so you should enquire with the particular business insurer you are with.
To make a claim, you will need to contact your business insurance provider, either by telephone or email. You may then receive a claim form from your insurance provider that you will need to fill out in order to then send it back to your insurer before they can then process a claim.
Some insurers may renew your policy for you automatically; however others may want you to actively renew it. You will receive details about renewing your policy close to the time that your existing policy will expire. To renew your policy manually, you will need to contact your business insurer in order to discuss your renewal options. Upon renewal you may want to update your policy and add any additional cover you may want or need.
This covers your business against the loss of time trading. For example if your office was set alight and you were unable to work for a number of days/weeks/etc. then business interruption would pay for your lost earnings. Business interruption can be added to any business insurance policy you may have.
It is vital you insure your office in order to protect you and your staff. Office insurance must be tailored to your specific requirements and can be added on to your business insurance policy. Public liability insurance will enable you to meet your liabilities to members of the public who are injured in your office, while employers liability insurance will cover you for injuries to employees while they are working for you.
Here at QuoteSearcher we will not offer you a live quote, but instead we will pass your details on to our panel of expert business insurers. They will then phone you back with the best quote tailored to your needs.
Your business insurer will need to be aware of all the facets of your business in order to assess the risk and meet the needs and demands of your insurance requirements in order to ensure you are fully protected. Failure to advise your insurers of a material fact could invalidate your cover.
Your business insurer will need this information in order to assess the size of your company and the potential liability you may have to other parties. This will then alter the amount you will pay for your business insurance.
Your household insurance can be amended to include your business assets and public liability cover. Most household insurers will need to know that you are working from home. They will then be able to assist you with your insurance requirements. Working from home may change the nature of the risk an insurer takes and it would be a good idea to check with your insurer just in case they will not cover you, otherwise it will be worth looking for a business insurance quote.
Yes, if your business transports, stores or uses toxic materials, you are required, by law, in addition to business insurance, to have a special environmental liability policy. If these materials should be discharged accidentally into water, or leak onto the ground due to a covered peril like fire, the cost of extracting the pollutant from the business premises is covered up to the amount outlined in your policy.
Workers compensation insurance, as part of business insurance, will provide for the well being of your employees and will also promote a positive work environment. Workers compensation insurance was created in order to pay employees, whilst also covering medical expenses and loss of wages in the event of a job related injury or illness.
With most business insurers you will find that your buildings and/or contents will be insured against fire, earthquake, aircraft, riot and malicious damage, storms and floods, any escape of water, impact, subsidence, theft involving forcible and violent entry or exit, and any other damage of an accidental nature.
To reduce the cost of your business insurance, preventing claims is one of the most effective ways. Maintaining basic safety and security precautions, implementing detailed safety training for new employees, and installing high performance locks and alarms on all the doors and windows will likely help you avoid incidents and claims. Some insurance companies may also reduce your premiums if your company has a comprehensive business continuity plan in place. Also, if you combine several necessary covers in a single policy, such as public liability protection, building insurance and stock cover, if necessary, then this may also lower the cost of your business insurance considerably.
The only legal requirement is employers liability insurance. However it is important to have cover in order to protect your business financially and to protect the interests of your clients and the public. Some business types will be required to have certain insurance covers by clients, for example if you are a DJ you will need your own public liability insurance.
As long as you do not alter the products you receive from manufacturers for resale, you will have only a secondary liability. The product manufacturer will be the first liable party. General liability insurance usually covers this secondary liability, but it will be important to check to be sure your business is adequately covered with whatever business insurance policy you have.