Small Business Insurance

Small Business Workers Compensation Insurance

Workers compensation insurance will pay for injuries sustained by employees and certain contractors during work. Workers compensation injurance may also pay for injuries suffered by some other people at your workplace.

In many legislations, workers compensation insurance is compulsory. If you don’t have it, you may get fined. Please enquire with your local government office or small business insurance broker for more details.

Small Business Public Liability Insurance

This type of small business insurance will cover you in case of a claim against you by a member of the public. This may be an injury claim related to a product which you have sold or a service that is provided by you. Again, a small business insurance broker will be able to provide further information about the type of insurance and amount of cover you will require for your business.

Small Business Travel Insurance

Travel insurance covers you while away from home. This often includes medical costs, repatriation in case of medical emergency, lost and stolen luggage, flight delays, and more.

Travel insurance can be purchased on a daily, weekly or monthly basis. If you are travelling often, it pays to buy small business travel insurance on a yearly basis, since this can save you a significant amount of money. Travel insurance is a must have small business insurance if you are away from home often, particularly when going overseas.

Small Business Content Insurance

This covers you for goods lost or stolen from your business premises. Theft of goods from office environments is quite common. You often see people wandering around office buildings. It would be quite easy for somebody to steal some valuable equipment such as a notebook computer and disappear without a trace. Small business insurance will cover you for this circumstance, since it means that at least the equipment is covered. Of course, you still need to take other safeguards, such as adequately securing your premises and backing up any work you have completed on your computer.

Small Business Insurance against Fire and Natural Disasters

The type of insurance required to cover natural disasters depends on the industry in which you are operating. Small business insurance against fire is required by every business, because every business is inherently exposed to fire risk. On the other hand some other small business insurance is less common. For example, you will probably only sign up for flood cover if you are located in a flood-prone area. Some other small business insurance scenarios you should consider are the impact of hail, earthquakes, insect infestations and more.

Medical Small Business Insurance

Small companies often contribute funds to medical insurance of employees and subcontractors. This may be a requirement in some jurisdictions. If not, it makes for a good salary packing option for employees.