Public and Liability Insurance
Owning a business isn’t always easy and with so many events and scenarios out of your control you need to provide your business with the best protection possible with a comprehensive insurance plan. Deciding what type of insurance best suits you depends on a range of factors, including what type of business you own, the number of employees and even your place of business. The most common insurance covers adapted by businesses are public and product liability.
Public liability is an important insurance policy to consider particularly if your business does not have a premises and offers services that are delivered to clients. The reason this particular policy is important is that it will cover you if your business has been found liable for a third-party to have injured themselves on your property or as a result of business actives. The cost of the third-party’s medical bills, legal representation and damages will be compensation up to a maximum limit.
Product liability insurance will cover your business against potential lawsuits from faulty products that may have lead to damage, illness, injury or death to a person.
If your company does not have the correct business insurance coverage, it can suffer from severe financial, legal and managerial issues. This can result can potentially impact to flow of the business and can even damage the business in the long-term.
Plant and Machinery Insurance
It can be difficult to decide what insurance cover best suits your business and while common covers such as public liability and worker’s compensation are widely known, speciality insurance covers can often be forgotten. However, these covers ultimately provide the most unique and protective cover for your business as they cater directly to your needs and concerns.
Businesses that operate and function using plant and machinery such as trade industries, farming and agriculture, plant hire, landscaping and many more could benefit from plant and machinery insurance. This is because these industries utilise their machinery on a daily basis in order to execute their current projects and contracts for clients. Machinery breakdown can lead to loss of profits, damaged reputation, loss of business and a range of other short-term and long-term consequences.
With plant and machinery insurance your machinery, plant and equipment are covered from theft, breakdown and repairs. Some of the many items that are covered with this option include tractors, trailers, cranes, forklift, bob cats and many more. Speak to your insurance provider to find the best insurance plan to protect your business.