Please see information below on Business Insurance.


Business Insurance

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What Is Business Insurance

Business insurance is a unique kind of insurance designed for businesses. If you own a business, no matter how big or how small it is important to ensure that you are covering every aspect of your business' risks. This is what business insurance is for.

There are different types of business insurance

The most common types of business insurance are:

Public Liability

Public liability insures a business against any claim which might be made by a member of the public. This usually occurs when a member of the public relates an illness/injury to your company/business. A business can suffer both financial loss and a damaged reputation by this kind of accusation and therefore public liability cover is extremely popular among businesses. Public liability insurance can be especially important for smaller businesses who may not be readily able to afford such a claim.

Property Insurance

This type of cover is for business' property or premises; in short, the building in/from which you operate your business. In some circumstances, property insurance will cover the contents of the property as well. The most common damages a business property can face include weather damage and criminal activity such as vandalism, break-ins, and theft.

Business Interruption

Business Interruption insurance covers your company should there be any significant loss of income from outside circumstances which prevent you conducting business in the usual manner These hindrances must be outside of your business' control in order to be valid for a claim.

There are many other types of business insurance besides these main types, including cover for equipment, goods in transit, business vehicles, key person/key man cover and professional indemnity.

How do I find the business insurance cover?

Many businesses use insurance brokers to find the right level of insurance for their business but this is not always the case. Working with a broker can be easier than going direct to an insurance provider. However, in some cases going to a broker could end up being more expensive as an insurance broker will charge a fee.

A broker can be helpful and save you money because they can often access specific special deals from insurance companies and they can offer helpful advice for you and your business on the right level of cover. Many large businesses opt for a broker to purchase business insurance. Smaller businesses often cut out the middleman and buy their cover directly from the insurer.


Please note that Which Way To Pay South Africa is not authorised to give personal financial advice under the South Africa financial regulations.

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