Some answers to things we typically get asked
Within business you will come across a wide range of risks. Having the right insurance in place can cover you against mistakes, accidents, damage, theft and even legal expenses. You need to know what is the right business insurnace for you though.
You do indeed still need business insurance. As a sole trader you are personally responsible for all the finances of your business and by not having the right insurance in place you could be risking a lot more than just your business.
Even though you are not sat face to face with your customers or have any 'real world' communication with them you will still need to esnure that you are protected against any risks that may come into effect as a result of your day to day activities.
This will largely depend on the kind of business that you have and how you operate. If you employ any staff then you will need Employers Liability Insurnace, some regularory bodies in your industry may require you to have professional indemnity insurance as part of your membership.
Once again this will really depend on the kind of business that you run.
If you interact with any third parties it it well worth considering public liability insurance.
If you are offering advice or handling client data then professional indemnity insurance could be a really important type of cover.
The cost of your insurance will depend on the very nature of your bsuiness and the level of cover you require.
When looking at how much the cost of the insurance will be an insurer will be trying to assess a couple of things; firstly how much a claim could cost and secondly how likely you to make that claim. More often than not if an insurere considers your business to be riskier then the cost will be higher.
The right insurnace for you should be at a price which is also right for you. We can run a quote for you so you can get an understanding of how much your premium would be.
The level of business isnurance that you need depends on the type of business that you run and with specific interest in the risks that you face.
We can offer you a minimum of £1 million and a maximum of £10 million of public liability insurance between £50,000 and £2 million professional indemnity insurance.
Unless exepmt you are legally required to have at leat £5million of employers liability insurance. We offer £10million of cover as standard.
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Our articles section contains our knowledge bank of information about the Commercial Insurance and how it can effect your business. The team of experts at CHAS use this section to share their knnowledge to help you get the right cover.
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