What to look for with business insurance

The obvious answer is yes. You will need both general and professional insurance liability if you become a limited company. Companies need professional liability insurance to cover errors and omission, which would cover litigation for mistakes made by employees.

If you are a one-man-band, maybe working from home or a small office, it also makes good sense to have some insurance for small business. The law sees you in exactly the same light as any of the big boys of the corporate world. You cannot rely on your personal, or home contents insurance, as this will not cover you in the event of an accident. To have your own personal business insurance need not cost the earth, and will add credibility to your business venture.

When mentioning office insurance, it is worth highlighting that your office doesnt have to be a static building. Maybe your ‘office’ is actually a big white van (or any other colour)? You could be a supplier of valuable machinery or deliver parcels for a living, which themselves could be of great value. If you use a van on a business basis, then it is clear that insurance is necessary to cover any possible accident. It is not just the van carrying the load, but the load itself that can be damaged as a result of an accident. It is not limited to accidents caused by yourself, but also covers when you become the victim. Business vans insurance is a competitive market, and it will pay to shop around before choosing your representative. Some of the benefits you might expect to receive with full cover include:

1. 24 hour rescue and breakdown: if involved in an accident or a breakdown, you can reasonably expect to be resued at any time with a twenty four hour period.

2. To replace a vehicle: it would be reasonable to expect a courtesy car in the event that your vehicle is damaged in an accident. The loss of business should be minimised with the provision of a replacement vehicle, once the damage as been assessed.

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