This can be one of the most arduous tasks any new business can undertake, and that is because it tends to be a long and complex process completely new to you. There is so much to think about, so much to consider, so much to wrap your head around; from health to vehicle and even liability. However, it is critical that you take all necessary steps to ensure your business is fully covered; it’s better to be protected than not. That’s where we come in. Read on and see what you can do to protect yourself.
The Best Place To Start
When getting coverage for your business, most experts will tell you that the best place to start is with a Business Owner’s Policy. Most business cover providers will have some form of Business Owner’s Policy. These could offer you a variety of different things including vehicle coverage, professional liability insurance, employee liability coverage and much more. In addition to this, most providers will roll these up into one neat package.
But I Run My Business From Home
This really doesn’t matter. You will still need insurances. Let’s say you run an online store out of your bedroom on a site like redbubble, and your wardrobe is full of stock. If you’re house is broken into, a wildfire turns it to ashes, most homeowner’s policies won’t cover you. So, yeah, you’ll need to get your business covered.
Your Lovely Employees
You got employees then you need to cover them. It’s that simple. Of course, exactly what cover you require depends on country and even region. It may be that certain locations will force you to have more types of insurance than others, so it is worth doing your research and speaking to a professional outfit. What’s more, even if you are not required to have certain types of insurance by law, we recommend protecting yourself anyway. Accidents happen, but you don’t want to pay for them. Oh, and sometimes freelancers need protection too. Just a thought.
This One Is For Online Businesses
Get some sort of cyber liability. Don’t know whether or not yours constitutes as an online business, if you’re collecting payments online, or even personal information, you’ll need to get yourself liability insurance. Why? Well, if your business gets hacked or certain confidential information gets leaked for whatever reason, your customers-slash-clients may well be open to take legal action against you. That can be bad.
You Have Vehicles Do You
This means you’ll need to get yourself a very specific type of insurance that covers any vehicles that are being used for business related purposes. Even your own vehicle will need to be covered if there is a chance you’ll be using it in a business capacity. The same goes for Uber drivers. This has been a source of confusion, but if you’re driving for these companies, even just occasionally, your personal insurance won’t cover you. Trust us, any accident you incur while working in the capacity of a car for hire will require a separate policy.