Which Business Insurance Policies Do You Need?

Business owners face a unique set of risks and no matter how prepared you are, an unexpected event can have serious financial consequences. This is why you need to protect your business with insurance. As expert business insurance brokers, we know all too well the importance of having the right insurance package in place. Today, we’ll be looking at some of the most common business insurance policies which you should consider to cover the risks your businesses faces.

Public liability insurance

This form of cover is designed to protect you financially if you cause damage or injury to a third party as the result of your actions at work. The costs involved with a liability claim can include medical bills, rehabilitation costs, repairs and replacements.

Professional Indemnity insurance

If you provide a professional service or give professional advice, you need to consider having professional indemnity insurance in place. This cover is designed to protect you if a third party suffers loss or damage as a result of your actions, following an act, error, omission or breach of professional duty

Business interruption insurance

If your business was suddenly unable to operate due to an unexpected event such as a fire or water damage in the office, how would you cope financially? Business interruption insurance provides cover for loss of income following insured events.

Management liability insurance

Management liability insurance is designed to protect your business from the financial implications following a third party claim against a director, owner, officer or partner. This can include claims related to unfair dismissal, discrimination, mismanagement or legislative breaches.

Workers compensation insurance

This form of cover is compulsory across Australia if you have employees and means that you’ll be reimbursed for payments made to an employee following a successful workers compensation claim. This could include wages and any additional costs, such as medical bills and equipment.

Cyber insurance

In the digital age, your business is open to cyber attack in the form of ransomware, spam, phishing scams, hacking and identity theft. This can have serious implications if sensitive data is breached and you can easily find yourself financially liable. Cyber insurance will protect you financially against the impact of cyber-crime.

For the best insurance brokers Perth, look no further than GSK Insurance Brokers. We offer tailored business insurance packages to ensure that all of your areas of risk are covered. From the initial stages of taking out your insurance package to stepping in at claim time, our personalised approach makes the insurance process as easy as possible. With our strong focus on customer service, our expert brokers will find you the right insurance package at a competitive price.

For expert business insurance brokers Perth, speak with the insurance professional at GSK Insurance Brokers today on (08) 9478 1933.

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