Business Continuity For Dummies

Ensuring You Have the Insurance You Need

According to the nature of your business, different levels of cover or types of insurance are applicable to you. We recommend that you speak to an expert in the form of an insurance broker or intermediary, to see whether policies are suitable for the needs of your business. The Association of British Insurers (ABI) produces a booklet with insurance advice for businesses, which you can find at www.abi.org.uk/information/business .

Although the insurance products we describe in this section aren’t compulsory, you really do need to consider taking them out to protect your profits and keep your business safe.

Covering against other business risks

Many of the risks facing your business don’t legally require insurance but are still very important to insure against.

Small and medium-sized companies commonly find that insurance ‘package policies’ are available to their sector, which bundle in many of the basic covers they need into one simple policy. However, because every business is different, take advice from your insurance broker or intermediary to see whether such a policy is suitable and sufficient for your needs. We list some of the key cover available in this section.

Property insurance

Property insurance is probably the most important insurance that you don’t legally have to have, but really should have. Property insurance protects you against ...