All business ideas usually start with finding the ideal customer, developing the perfect product, addressing marketing or supplier issues. However, sometimes entrepreneurs overlook one crucial aspect: insurance for companies, SMEs or the self-employed.
Insuring a business is not a fun task, but much less fun is finding yourself in front of a problem and not having good coverage. Here are the different types of business insurance available today.
What are the essential insurances you can’t afford to be without?
Although nowadays there is coverage for almost every aspect of your business, below we review those that are essential to have (and to know):
General liability insurance
This insurance for companies and SMEs is the pillar of any business that cannot be missing. It protects your business against claims from third parties for damages that may occur in the development of its activities, whether due to accidents on the premises or defective products. Don’t wait for someone else to knock on your door with a claim in hand, request a quote today to avoid unforeseen events.
Property damage insurance
Who wouldn’t want to protect equipment, furniture, machinery and even office space? This insurance is ideal to cover claims such as fire, theft, natural disasters, which in the blink of an eye destroy all your efforts.
Product liability insurance
If your SME manufactures or distributes products, you should not continue without this insurance. It covers claims related to damage or injury caused by defects in marketed products. Also, did you know that this can damage your reputation? This SME insurance helps to safeguard the reputation of any company and mitigate financial losses from lawsuits.
Insurance against accidents at work and occupational hazards
If one of your employees were to have an accident, could your business afford the medical expenses? You don’t have to worry about them if you take out this insurance, which also covers them in case of illness. Avoid extra costs for your company and guarantee the protection of your employees.
Freight insurance
Shipping goods, whether by land, sea or air, is very risky, and can incur additional logistics costs. However, there is a solution: freight insurance, which covers these unforeseen events so that you can keep operations flowing.
Cyber risk insurance
Today more than ever, you can’t afford to put all your customer data and business operations at risk. Cyber-attacks, data theft and digital security breaches are the order of the day. This insurance covers losses arising from these technological risks so you can rest easy.
Life or health insurance for employees
Do you want to keep your employees? One of the best ways to do this is to offer them life or health insurance. As well as being a competitive advantage, they provide great financial security for employees and their families in the event of serious illness or death.
Business interruption insurance
Accidents have no time and date. In the event that your business has to stop operations due to a covered loss, such as a fire or natural catastrophe, this insurance protects expenses to ensure business continuity at critical times. Don’t leave your business exposed!
Professional indemnity insurance (or errors and omissions)
Don’t risk your reputation. In the event of errors or negligence that may result in claims for breach of professional obligations, this insurance guarantees coverage of legal expenses, compensation and other related costs.
Multi-risk insurance for SMEs
With the aim of simplifying insurance management and ensuring comprehensive protection that offers peace of mind, this insurance combines several coverages in a single policy, such as property damage, liability and business interruption.
Secure your peace of mind
Protecting your business is a smart investment. That’s why at Ambler we make sure you get the best business and SME insurance tailored to your needs. Act before it’s too late, get a quote as soon as possible. The peace of mind that comes with having business insurance against all types of risks is a great benefit… You’ll see the benefits of it. we insure!
