As a new business, you will focus on how to put your stamp on it to ensure that your name, product and / or service is known.
However, much of your future success will depend on your ability to take a step forward, and certainly your insurance will too.
The basics of a commercial insurance package are likely to include general liability, cyber insurance, buildings and content, and director and officer insurance. There may be other features that you may want to add or remove from your business, but these are some of the most common and popular types of coverage. It is important that these are set up as soon as possible, so as not only to ensure the future stability of your company, but also to address those who are interested, e.g. B. Third-party providers, shareholders and investors.
The DIY approach
If you take out business insurance yourself, you have to make sure that you are looking for an insurance solution that makes sense for your company. This means that you do not choose a price for the coverage you are promised, and you are not drawn to add-ons that do not add value to your protection because they may not apply to your company.
If you choose a policy, be careful and take into account the information you provide, as it is a legal document. If you do not provide information that is relevant to a claim you have made in the future, your claim may become invalid. This can be a huge loss for an omission.
Use a broker
An independent insurance broker provides extensive support to young and emerging companies, as they can provide advice on what insurance coverage to consider, including past liability limits for similar companies, based on their market knowledge and experience in which insurance policies have worked in Switzerland. You can also compare all insurance policies for you and review them in detail, so you don’t have to spend time understanding the wording of the policies – an approach that can still lead to misunderstandings.
It’s good to ask questions to both the insurer and the insurance broker’s service to ensure that you get the support you really need for your business.
If you want to speak to an independent insurance broker, Quote Four is your ears. Call us on 01362 698192 or email [email protected] to arrange a free consultation. More information about our service can be found at www.quotefour.co.uk.
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