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Industry Specific Insurance
Insurance cover for all industries is imperative
Listed here are some of the areas that are covered by industry insurance products – it is advisable to choose insurance cover that specialises in the industry you are in.
Industry Specific Insurance Products
Insurance cover for all industries is imperative – if you run a factory, are responsible for a mine, own a shop or shopping centre or have your own handyman outfit, then having cover for tools, expensive machinery, accidents, personal injury, injury to others, fire, flood, theft and even cover against the eventuality of terrorist attacks are all real issues that need to be addressed by a broad spectrum of industry insurance products in the world of today.
Listed here are some of the areas that are covered by industry insurance products – it is advisable to choose insurance cover that specialises in the industry you are in. For example, if it is a mine that needs cover, find an insurance product that will cover mines specifically, and if it is aviation then selecting aviation insurance specialists is a no-brainer.
All-round Industrial Insurance:
- All-round industrial insurance has been designed to cover larger factories or similar types of businesses.
- As with all industries, liability cover is absolutely vital. Should anyone on your premises become injured, ill or are killed, you need to ensure that the liability insurance that you have is sufficient to cover this unfortunate eventuality.
- Should you or your employees be travelling on behalf of the business but are away from the premises, liability insurance cover would still apply.
- Business vehicles and business fleets need to be insured against accidents and hijackings. Take careful note that this is very different to your own personal vehicle insurance cover.
- If you use your own vehicle for business purposes, then business cover is necessary, otherwise your insurance company will not pay you out.
- Loss of earnings cover is imperative, especially in the light of today’s striking climate – when workers down tools and production comes to a halt, the business will suffer huge losses – ensure that you have cover should this happen.
- Fires do happen in factories, and sometimes factories burn to the ground. Your insurance should be enough to be able to replenish or replace goods, machinery and buildings that have been damaged and destroyed.
- Storm damage have become common-place, particularly with global warming. Storm damage can be extensive. Ensure your cover protects you completely should this happen.
- Computer equipment has to be insured should there be theft or damage.
- Equipment, especially that on lease needs to have insurance.
No matter what industry you are in, covering your business with industry insurance products is important.