Having a small business insurance policy is ideal if you’re a lawyer or a small office where you need to cover your building, contents and staff. But do you know what you are covered for?
Often you will find when reviewing your policy that you have cover that you will never need. As a small office, you definitely won’t need anything like road risks cover, which is geared for the motor trade or machinery cover if you don’t have any heavy machinery.
Are You Ready For Anything?
As a small business your insurance should cover you for your office building, the contents, employers liability cover, public liability cover, professional indemnity cover and loss of income if you wish. Remember that often you can include additional cover to your existing policy, so things like loss of income is handy if your business is destroyed in a fire making it impossible to work, if your computers are stolen and you lose important income while replacing them.
Professional indemnity should be included for any business which offers advice of any kind, whether you’re an attorney or an estate agent. Wrongful information can lead to problems for customers, but with the right cover you are protected against any claims. The same applies if you do repair work, where you need to offer a guarantee of some kind, with the right cover you won’t be left out of pocket if you didn’t carry out the repairs properly. This can happen to anyone, so never think it won’t happen to you that are why you get small business insurance to protect you against any losses and claims.
Some of the most commonly missed deductions are eyeglasses, dental, medical miles, and lab tests.