AdviceFirst’s business clients operate in many industry sectors including manufacturing, software, law, publishing, public relations and various others. Many have chosen us to assist with their business insurance needs, and some of the most common types are listed below.

Let’s take a closer look.

  1. Group Insurance

This is insurance cover that your business makes available to staff, which may help provide financial support should something happen, and they are prevented from working for an extended period of time, through illness or an accident. There are a number of insurance cover options that may be available to your employees including: life, TPD (total and permanent disability), trauma, income protection insurance, and medical/health insurance.

Group insurance can benefit both your people and your business. For example, an insurance package might be too expensive for an individual employee to pay for themselves, but if you, as the employer, took care of the premiums it may form part of a competitive package that puts your company ahead of other employers who might be only offering a salary to the ideal candidate. It can help you not only attract the right people, but also retain them.

  1. Key Person Insurance

As you know, the most valuable assets for any business aren’t machinery, plant, tools or office equipment. It’s the people. All staff are important, but most businesses will have certain people who are critical to the ongoing viability of the business, including Principals, Directors and senior staff, or those people in specialist roles.

If your business were to lose a key person through illness, injury, or death, the effect on your team and your business could be devastating. Key Person Insurance may help protect your business by providing insurance cover for those employees who are integral to the survival and growth of your business.

  1. Shareholder Insurance

Shareholders are absolutely crucial for a business. If you or any of your shareholders were prevented from working in the business for an extended period of time because of illness or injury or death, this can have a significant impact on the ownership structure of your business.

Shareholder insurance could provide financial assistance in the event of a shareholder’s death or disability. A robust shareholder agreement or succession agreement, in conjunction with shareholder insurance are key ingredients for the survival of your business.

  1. Business Interruption Insurance and Business Liability Insurance

Getting the right insurance cover to protect the key risks you face as a business is vital – let us help you navigate the process and ensure you have the right protection in place.
Business Interruption Insurance helps keep your business running when you suffer an unexpected set back.

There are various types of Business Liability Insurance which provide cover for different categories of liability your business may face depending on the nature of the business and who your business interacts with.

  1. Business Assets Insurance

The right business property cover can help your business stay on track, even when things aren’t going exactly to plan. Whether for buildings, plant, stock, or other business assets get cover for accidental loss or damage to your business assets.

Your next step…

Let our experienced team of Brokers and Financial Advisers help you sort out your insurance so you can focus on running your business.

Enjoy the benefits of our financial health check, we can identify any gaps and help you get financially on track. Call us today on 0800 438 238 or click here to send our team an email.

 

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AdviceFirst is a Financial Advice Provider (FSP23242).