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What insurances do business owners need

If you run your own business there are a number of different insurances that you will want to have in place. The types of insurance will depend on the kind of work that you do, whether you are an employer and what type of legal structure that your business takes. In order to get the right insurance you should speak with a Insurance Brokers Bristol who can find out which policies will cover you best.

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Here is an indication of some of the insurance types that you might want to consider:

  • Public Liability – this covers any accidents that could occur on your business premises or if you accidentally damage something on a client’s premises
  • Professional Indemnity – this covers you if your work or services lead to your client losing sales or business or a damaged reputation.
  • Employer’s Liability – this covers the cost of an employee being off sick or injured whilst they are at work and it is essential if you employ anyone, even if they are just part time employees.
  • Product Liability – this covers an injury or illness that could occur as a result of a product you have manufactured, designed, supplied or repaired.

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If you operate as a sole trader you might not need to have other insurances that could be key for limited businesses such as Director’s insurance. If you work in the medical fields you might also need Malpractice Insurance and Locum Insurance to help with the costs of cover support for your practice.

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