Insurance cover for new start businesses
You might see insurance as one of those costs you don’t want to organise straight away or may not have even considered yet. However, for many firms it ends up being their life support. You never know if disaster is lurking around the corner, and unfortunately you cannot secure the cover after an incident has happened. At this time in your company’s lifecycle it is a fine balance between having the cover you need and understanding what you are buying against not scrimping on costs to find you are not sufficiently covered.
Mitchell Charlesworth Insurance Solutions have many years of experience supporting new start businesses to ensure they have the correct cover at the most competitive prices. There are numerous types of business insurance for small businesses to consider, some of which are compulsory and others that are advisable. We explain the choices, cut the jargon and make recommendations so you know what cover you need and why you need it.
In summary, compulsory insurance is what you need to trade.
- Employers Liability: This is legally required If your new business will employ people, have more than one director or engage certain types of subcontractors.
- Public Liability/ Professional Indemnity: Your clients may contractually require you to carry a certain level of cover before you can start your contract.
- Vehicle Insurance: If you will buy or lease company vehicles you will require vehicle or fleet insurance, depending on the number of vehicles.
- Property Insurance: If you buy or lease equipment for your business you may be asked to evidence that the property is correctly covered.
Advisory insurance is the cover you need for your particular type of business or activities.
Mitchell Charlesworth Insurance Services advise you of the insurances suited to your business, which are compulsory and which we recommend to fully protect you and your business.
If we are appointed to work on your behalf, we will negotiate to get the best possible deal, advise you of what you need to do and when and we even offer a competitive instalment plan to spread the premium cost over the year.
If you would like to discuss your insurance requirements, please don’t hesitate to call a member of the team on 0151 423 7500 or e-mail Richard Gorst or Carrie Arnold.
Alternatively, complete our online enquiry form.