What are the typical insurances for businesses?

Author	Message
Written on: 03.11.2009 [10:31]
Bellamy Bellamy Topic creator Posts: 4	What are the typical insurances for businesses? If I open a small business, what do I definitely need? At the moment I wouldn't have any employees, just myself!
Written on: 05.11.2009 [16:14]
Dakshesh Dakshesh Posts: 1	It might depend somewhat on what the business is? Would you be doing anything to people or to their possessions? Would you need professional liability insurance? Or are you just selling things? You'll need public liability insurance in case someone sues you and you have to pay them compensation or fight their claim in court. You may also need property insurance if you have a specific property / office for your business. If you're operating out of your own home you may need to increase or alter your home / home contents cover, to make sure that any business equipment is insured. You should also consider key person insurance, since you are your only employee! This ensures that if something were to happen to you which meant you were unable to work, you would receive a payout to compensate the loss of revenue.
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Written on: 13.11.2009 [09:31]
Evans Evans Posts: 1	Definately go for the key person insurance, even if its a bit pricier than the other insurances its worthwhile to know that if you are ill or have an accident your income will be safe.