Posted: 8th October 2020 | Back to news feed

Do the phrases ‘I don’t have enough time’, ‘I’m too busy with work’ and ‘it won’t happen to me’ sound familiar?  When you’re running your own business, whether it is a small business from home or a larger enterprise, time can be precious, but spare 5 minutes to think about your business insurance.


Working from home

 With more and more of us working from home at the moment to reduce the risks of coronavirus don’t be fooled into thinking that the claims risks have been removed as well.  By getting yourself a specific working from home policy you can ensure that your expensive equipment is covered for both theft and accidental damage, should the dog knock it off the kitchen table.  The addition of Personal Accident cover is something to consider should your income be affected if you’re unable to work.  Personal Accident Insurance can offer you benefits up to a percentage of your weekly income and there is also illness cover to consider.  Have you stopped to think what would happen if you were taken ill?


The issue of products

 Product Liability insurance covers you for the cost of compensating someone should a faulty product cause an injury.  For example, should you sell a product that could break and cause serious injury you could be liable.  Product liability will protect you against such incidences.  You’ll need to ensure that you have ‘rights of recourse’ against any manufacturer or supplier in this case.  Pre Brexit, if you buy your stock from the EU you should have this covered automatically but it is worth checking with your supplier.


Cybercrime on the rise

 As technology changes so does the threat.  With more and more business being done online the threat of cybercrime increases.  Cyber Liability Insurance can protect against business interruption caused by being hacked or a malicious virus.  Cover would also be available should you unknowingly infect another a third-party computer or network. 

 As much as GDPR breech cover isn’t specifically available, should you lose client data as part of a cyber-attack, Cyber Liability insurance will provide cover for the costs of compensation to affected clients and the costs of data recovery and investigations as to the cause of the loss.

 Ready to discuss your customisable and comprehensive insurance options? Call Shearwater Insurance to speak to one of their experienced brokers who will help you navigate the different types of cover available.  As insurance brokers they are legally bound to provide you with the best priced policy available to them.  Call 01992 707318 to speak to an experienced advisor who understands the unique requirements of horse owners


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