If you’re a small business owner, it can be hard keeping up with all the different types of insurance available to you.
Working out which ones apply to your business and which ones don’t can be a minefield.
On top of that, you might find you’re wasting time and money trying to keep track of several different business policies when in fact, you could combine them ALL into one policy.
This option is called Business Pack Insurance.
Insurers usually offer what is referred to as a ‘standard’ Business Pack policy, which includes a handful of the most common types of cover.
Some insurers offer a Business Pack product designed specifically for small businesses while others will also offer fully customised options.
In addition to making your insurance paperwork simpler, your insurance premium could even end up being lower under a Business Pack option as underwriting several risks together tends to work out cheaper than purchasing individual policies.
The other bonus of a Business Pack is you might find you are able to plug a few identified liability holes in your insurance policies.
Types of insurance policies often offered under a Business Pack product can include:
Property (this usually includes buildings, contents and stock that are accidentally damaged by a defined event)
- Public and Product Liability
- Machinery breakdown
- General property (usually tools and professional equipment that are not stationary)
- Computers and electronic equipment
- Equipment breakdown
- Business Interruption
- Employee dishonesty
- Tax Investigation
- Personal accident
- Marine and cargo
To find out more about the options available through a Business Pack, contact MGIB today.