24/06/2019

The Importance Of Business Insurance

Insurance is a is tricky...it's not like buying a shirt or groceries. When you buy insurance you are buying a promise. It's promise that if something catastrophic happens to your business, your carrier is going to assist you to make your business whole again.

Here are a few key reasons why your business needs insurance:

Keeps your business up and running
We often forget about natural disasters such as flooding which is becoming very frequent in the UK. If you had to close your business for a short period what about the loss of income during that time.

Makes you look credible
It shows clients / customers that you are safe, if anything goes wrong you have a way to compensate being the most obvious.

Guards human assets with Key Man Insurance 
If your key employee suddenly passes away then you need the money to fill the hole, potential loss of revenue for a short period until you find a replacement. Most employers actually forget the key asset to any company is your employees. By having Keyman Insurance you will be well covered.

You cannot predict the future. 
Business changes daily, what could be a booming business in today's market could be a failing one in a few years time.

If you own your own business then you definitely need to look into the various insurances applicable to your company. Like most insurances it can be complicated to understand and quite often the T&Cs in a contract is confusing so it's worth getting in touch with an Independent Financial Adviser such as Rigby Financial for further advice. They can offer impartial advice on the best type of insurance for you and the right level of cover to ensure you are fully protected.



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