Insurance Find

Archive for February, 2012

As a business owner you can be held personally responsible for injuries or damages that take place on your premises or during the course of normal business operations. Consequently you need to think about the best business insurance South Africa can offer in the way of a liability business insurance for your company. If you are proved to be liable for these damages or injuries, and are not covered by an insurance policy -you will have to use your own assets to pay for any claims made against you. Therefore you need to examine your company’s risks needs and look at the appropriate types of cover which you will require:

1.         General liability: This insurance not only protects you if anyone is injured at your place of business, but it also covers any injuries that might be caused by a product or service which you sell.

2.         Umbrella liability: This insurance fills in any gaps left by all your other forms of insurance and ensures you won’t be stuck with a big bill.

3.         Property: As you wouldn’t think of going without a homeowner’s policy, you also need to insure your business property.

4.         Risk management:  Exposure to risk is something that needs to be thought about in detail, as every day you and your business will face some form of liability or risk -from a client slipping and injuring themselves on your premises to one of your employees causing damage to property of a client or third party.

5.         Public Liability: Claims by consumers and the public can be incredibly high, high enough to literally put an end to your business. With the correct cover in place any unfortunate and unforeseen problems that can lead to a claim against you or your business.

Mo matter what type of business you are engaged in – whether it be a shop an office or even a hotel – it’s likely that the contents of that business will run into tens of thousands, if not more. So look for the best business insurance South Africa can offer when looking for cover.