Checklist for minimum Insurance Needed

The following is the basic insurance cover you will need in your business:

  • Fire insurance. You will need basic cover to protect against fire to protect premises, contents and records against fire.

  • Theft. You will need protection for any losses through burglary or robberies, etc.

  • Vehicles. You will need vehicle insurance for all your cars, trucks, etc.

  • Public liability. You will need cover to meet claims from third parties for any personal injury they receive on your properties through your negligence.

  • Professional indemnity. You will need cover for any claims against you or your business for negligence in advice you may give

  • Loss of profits. You will need cover to reimburse the firm for any profits lost due to business interruption or other closures, even through faults that are not yours.

  • Employees. You will need cover for workers compensation that provides for cover due to accidents if this is not covered regulations in your country.

  • Health. You will need insurance cover to reimburse for costs necessary where the owner’s life is affected.

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