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Why do you need Business Insurance?
Whether you’re a florist, dentist, or an accountant, there are certain risks that most businesses
face like fire, theft, natural disaster or employee injury. Business Insurance provides cover against
these unforeseen events that could lead to substantial financial loss.
You can’t predict what might happen to your business in the future. There are many factors
that could threaten its productivity, such as unexpected fire damage to your property, theft,
a natural disaster, or the injury of a key employee.
Without cover you might be exposing your company to risk; a single blunder could drain your
hard-earned resources and force you to cease operation.
Commercial property insurance covers the property on which your business is situated as well as the physical structure. This insurance could cover your business from loss due to fire, theft and natural disaster, as well as any installed machinery or equipment.
Credit risk insurance covers your business against loss due to payment default on trade receivables. This product could cover your local and international debtors. If you sell goods and services on credit terms, this could be the right policy for your business.
Employers’ liability insurance covers a business owner against any injury, illness or death caused to an employee during their work. This type of cover could help pay compensation costs and legal fees.
Professional indemnity insurance covers businesses that provide a professional service or advice. This could cover losses related to legal fees and damages payable. Businesses in certain industries or professions may be legally required to take out this form of cover.
Product liability insurance could cover a business financially against damage, death or an injury caused by products sold or supplied by the business. This policy could help cover costs associated with medical and legal fees.
Key person business insurance provides financial cover if an important person in the business is no longer able to work due to death, disability or illness. Key persons are generally the owner, founder or CEO of the business, or any other person who plays a key role in the operations of the business.
Have any additional questions about Business Insurance?
Check out our glossary of comprehensive list of FAQs.
We understand how much blood, sweat and tears it takes to run a successful business – we’ve been around the block a few times.
Unfortunately, many business owners try to skate by without insurance, exposing their company to grave risk. Without coverage, a single blunder could drain your hard-earned resources and force you to close your doors.
Being underinsured or having no insurance cover is a risky business. Let Hippo connect you with the top insurance providers in the country. We only work with the best in the business, and so should you.
Time is money. Chat to one of our partners; get your free quote and save!