This might come as a surprise to some, but getting the right insurance for your business might be one of the most important decisions you’ll make as a business owner. This type of policy covers cost for such tragedies as fire or any other natural disaster but does not cover those caused by auto or workmen compensation or health problem. Insurance companies pay fees for the services provided to the insured people covered by the policy.
At AXA Business Insurance, we give you the protection you need to grow your business, which is reflected in our Feefo customer service score of 4.8 out of 5 based on 4231 reviews as of 26 April 2016. Key person insurance — If you rely on certain key people to help run your business, protect yourself against the loss of these key employees. The survey also found that Michigan residents are concerned about insurance fraud.
You need this insurance to avoid having an auto claim denied by your personal agent because your vehicle was being used for work purposes. Eighty-three percent of respondents indicated that insurance fraud is a serious crime and almost 90 percent believe insurance fraud has a direct impact on them and affects their premium.
Obtaining quotes is an important part of the public liability process, as you need to budget for the cost of the insurance, as well as compare various quotes to ensure you are getting the best value for money. Using the Internet to find cover for your business is perhaps the easiest method today of obtaining multiple quotes from many different suppliers in a short period of time.
In special circumstances it is possible to obtain a public liability insurance policy for a larger amount, however this is generally not required for most businesses unless they are doing something out of the ordinary. For most small businesses this means inventory, the cost of raw materials, manufacturing equipment, shipping, packaging, and warehousing. Your people make your business tick; you want them to be happy, healthy and productive.