What are the main features of a SME Insurance Policy?
In essence, SME Insurance can comprise one central policy or be a bundle of smaller policies that provide a wide range of cover, totally tailored to your business vulnerabilities and risks. Whether you are a sole trader, director or partnership, we can find the right package for you to cover any unexpected events that could jeopardise the viability of your business.
Main Features
- Covers a wide range of sectors, including, but not limited to, offices, retail, construction, hair and beauty, manufacturing and hospitality
- Usually includes public liability to protect from claims made against your business by third parties and members of the public
- Usually includes employer’s liability to protect from claims made against your business by employees – this is a legal requirement for most UK businesses
- Can include product liability if you design, produce or distribute any products
- Can include professional indemnity insurance, which is sometimes required by trade bodies and associations, particularly for consultancy services who offer advice (e.g. accountants)
- Can include other cover options such as cyber cover (an increasingly important product in today’s digital age) and business interruption insurance (to protect your revenue should you be temporarily unable to trade due to events such as floods, fire, theft and vandalism)
- Can include stock cover (e.g. for shops and retailers)
- Can cover premises, buildings and contents
- Can include machinery and tools (e.g. for construction organisations)
- You may wish to also consider fleet insurance if you have company vehicles as many standard vehicle insurance policies do not adequately cover business use
