Coversure knows that if you are in the Warehouse business you will need insurance as without it your livelihood is at risk. An unexpected loss could cause financial hardship and destroy years of hard work.
Your stock can be insured for its cost price without any addition for profit. We can also make provision for seasonal stock fluctuations.
Plant and business equipment can be insured on either a “replacement as new” or an “indemnity” basis where wear and tear will be taken into account when settling any claims.
Business interruption insuranceis designed to compensate for the short-fall in gross profit together with paying any increased working costs and extra accountants’ fees incurred. This might be because of damage to your property or machinery, or loss of stock – all will disrupt your business and lead to loss of income and extra expenses.
We will help you to arrange contingency insurance as you will need to estimate the maximum time needed to get your business working normally following the most serious damage. We can provide engineering insurance to cover against electrical or mechanical breakdown for most machinery, including computers. You should remember that UK law requires that many items of plant such as boilers, lifts and lifting machinery must be inspected regularly by a qualified person.
Contents are usually covered against theft providing there has been forcible and violent entry to or exit from the premises. Damage to the building resulting from theft or attempted theft will also normally be covered. Theft by employees is usually not covered – cover against employee dishonesty can be arranged by a fidelity guarantee policy.
You may need public liability insurance to give you cover and protection against claims where you would be legally liable for and brought to you by anyone (other than your employees) for bodily injury or loss or damage to property arising in the course of your business.
You might need product liability cover to protect you against legal liability incurred as a result of a product that you manufacture or supply being faulty or defective and causing loss or injury to a person or a business. E.g. manufacture of an article that is not finished properly leaving sharp edge which causes injury.
Employers’ Liability insurance is legally required if you have employees (including Directors in a Ltd Company).
Goods in transit insurance covers goods against loss or damage while in your vehicle or when sent by carrier. The sum insured may be a limit for each vehicle or any one consignment.
Coversure can protect you against customers who fail to pay their invoices. Because the risk of bad debt can be high, you would probably find it hard to get cover for this unless your business has been successfully up and running for some time.