Self Employed
Obviously the type of insurance cover you will require is
dependent on the business you operate. From plumbers to management
consultants if you are opting to set up your own business and go
out on your own, be prepared and plan for your future needs.
Pension - Personal Pension Plan is a
tax-efficient way to save for retirement with additional protection
options such as Life Cover and Disability Cover.
Life cover - provides a lump sum to help your
family in the event of your untimely death.
Disability cover - provides an income should
you be unable to work due to a long-term illness or disability.
Payment Protection insurance - you can take out
Payment Protection Insurance to cover repayments on your loans
should you find yourself unable to work.
In addition to future planning and protection policies, your
business will need to be insured adequately.
Material Damage - A substantial amount of
clients' money is likely to be tied up in physical assets such as
buildings, stock and machinery. For your insurance cover you
should not only consider the cost of repairing buildings and
replacing stock but also how your business will survive the
financial losses that inevitably follows- paying wages during
downtime; outsourcing; securing alternative premises; lost profits
whilst production is down.
Business Interruption - Business interruption
insurance insures against loss or damage to the income or profit of
a business due to an interruption in the business.
Money & Cash cover - An insurance
policy that will cover money and cash that you hold on your
premises, the value will be dependent on the security system your
firm as deployed.
Employers Liability - Employers Liability
Insurance protects your business from claims made by employees who
suffer an injury or illness as a result of your business.
Professional Indemnity - Professional Indemnity
Insurance covers for claims for compensation due to mistakes made
in the course of the company's business.
