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Are you Covered?

Most business owners will have an Insurance Policy in force, which will provide them with cover incase of any eventuality, such as Theft and Riot/Malicious damage, which are common insured events.

It is easy to overlook the more fundamental issues.
Below are some tips for you to have a look at and see if you have the correct cover and if you “ARE” actually covered:

  • Firstly you need to check the date on your policy, a policy that has expired is no good to you.
  • Check the fine detail – The Description on your policy needs to accurately reflect what you do – this is crucial.
  • Check that your day to day running is complying with the terms and conditions of the policy – your insurer provider will no doubt have made certain requirements of you when you took out the policy.
  • Check your numbers – Make sure the sums insured are adequate, as a result of being under-insured could be severe.
  • Loss of earnings – Which occur whilst any damages are being rectified have you thought about this and included it in your policy? If so is it enough?

These are just a few of the things you may want to consider. I suggest you get on the phone to your insurer and run through all the fine details of your policy.

Remember it’s your business, and you do not want to suffer.