You have two simple choices when looking for a small business insurance quote. Do you go for just liability cover only, or do you extend this to include cover for your business assets?
When we are describing business assets, we mean tools, computers, stock and other equipment which the business has legal title to. You do not have to be a limited company, this will apply equally to sole traders and partnerships.
A basic policy can provide you with your business liability insurance covers for a few hundred pounds. However, if you sit down and list all of the current business assets and their current replacement cost. Then, add up your current stock holding and you may be surprised at how much it would cost to replace the physical assets that belong to the business.
It depends on the type of policy you have whether you can additionally include portable items such as laptops, mobile phones and P.D.A’s away from business. These items are more likely to be damaged or stolen. If you do have the occasional business trip to Europe or elsewhere, make sure that you policy covers you for this.
As with all quotes and covers, speak to a professional broker and get some free advice and a few different premiums so you can decide what cover you will take out.