If you run a business, the most important aspect of your company, besides breaking even is insuring all your assets as these are often costly to replace – funny thing is that things usually only seem to go horribly wrong when you are having a bad month and there is nothing extra in the coffers to replace or fix these items. Business insurance should never, ever be a grudge sale, but should play an integral role in the running of any successful enterprise. Here is a list of what business insurance will insure:
- Your business insurance will cover the bricks and mortar of your building – these include the actual building against fire and flood as well as all the out buildings that are also on the property.
- Business insurance will insure all movable assets such as iPhones, laptops and other items that are not on the property at the time – but do take note that this has to be a specified item on the insurance schedule.
- Should you run your business on the Highveld, it is advisable to insure your computer equipment as well as all other delicate technological equipment against the probability of being struck by lightning which can cause untold, costly damage.
- Does your enterprise do deliveries; have trucks and cars that transport goods from one point to another? It is imperative that your fleet and all other business vehicles are covered against all eventualities should the unthinkable happen – not only is it important to insure the vehicles, but it is also important to ensure that the goods being transported are protected against damage or theft.
- Have you insured your business for down-time if you lose out on production due to machine failure or power outages, or if your valuable equipment is stolen and you are unable to recoup important data?
Many individuals run businesses, both big and small – it might be a good idea to make a list of what business insurance will insure should something happen.