Specialist business insurance is broadly defined as an unusual, unique and complex cover to guard against the risk factors of any company. It may include everything other than the premises, stock and tools of any business house. It is a tailor made policy to suffice the diverse insurance needs of any business. Be it any legal issue or a case of stolen goods or mishaps during business travel, anything that costs your business can be covered in this type of insurance.
Below, we list the different types of specialist business insurance:
Goods in transit insurance: This cover is very beneficial if you are into the business of supplying goods. It will protect any goods and items that your business delivers. In case of theft, damage or accident of any kind happens during the transit of the goods then the insurance can cover all those losses. It is not covered under the standard motor insurance.
Business travel insurance: This is best fit for people whose business requires travelling to a large extent. Stolen luggage, cancelled flights, damage to gadgets like laptops, tablets and smart phones, sport equipment etc. are covered in business travel insurance. Ask your insurer about every detail before you sign up for this insurance.
Tool insurance: This kind of policy offers you insurance for all kinds of tools used in the trade. Whether you are a plumber, electrician or carpenter, your tools is a big investment for your business. Theft or damage to the tools is covered in these policies. A word of caution is that if the excess paid covers the cost of the tools then there is no point in having policy.
Fidelity guarantee insurance: If your company has become victim of the losses due to dishonest staff, then this cover supports you to recover loss of money, stock, data and assets. If you have a big staff then applying for this type of insurance would certainly help.
Data processing insurance: Theft or loss of data processing equipment or units may result in big losses. An insurance cover that will protect you against these losses is a must if you have a business that highly depends on data processing.
Loss of cash insurance: This type of policy will support in case of any theft or loss of money from the business premises or during business travel. The insurer would make sure that you suffer least inconvenience due to the loss of cash from the premises.
Engineering insurance: It is best for people who deal with the business of machinery and equipment. It will cover the loss, theft and breakdown of machinery as well as delay in finishing a project.
Glass and shutter insurance: It provides financial support to replace glass and shutters of a building or vehicle following some damage to it.
Credit insurance: This cover provides financial support when the debtors are unable to pay you the credit.
Commercial legal insurance: The cover protects you against any kind of losses due to the non-compliance of business partners and clients.
Depending upon the requirement, you can choose any of these specialist insurance covers for your business. For more on business insurance, check www.freepricecompare.com or call us on 02034757476.