- Public Liability
- Property Owners
- Professional Indemnity
- Working from Home
- What is employer's liability?
- When does my online store need business insurance?
- What kind of business insurance do I need?
- How can you find out whether a business has insurance?
- Should a start up have business insurance?
- What kind of business insurance can the RAC provide?
Should a start up have business insurance?
A startup provides many exciting challenges for the budding entrepreneur, but it also places a great deal of responsibility on their shoulders. During those hectic early days insurance can sometimes be sidelined and forgotten, or viewed as one expense too many.
At the RAC we believe in insurance that provides peace of mind. When it comes to business cover, this is equally important to a small startup as well as an established, successful enterprise. Choosing the correct type of insurance ensures that your investment is safeguarded from day one.
Liability Insurance for startups
Employer’s Liability Insurance is required by law for any business with employees, making it essential for many startups. This protects you against accidents suffered by staff, and can be further extended to include temporary employees. Public Liability Insurance covers claims against the business by members of the public for either property damage or personal injury arising from the negligence of the insured, in many cases a contractor will stipulate that you hold this before commencing work.
The RAC can offer a wide range of bespoke options to fit the fledgling startup. With cover available for sole traders, small and medium-sized businesses we can help provide financial safeguards for your enterprise.
Working from Home Insurance
Many startups begin life in a home office. Though often overlooked, this can require a specific type of insurance not included in standard Household policies.
The RAC’s bespoke Home Business Insurance offers specialist cover for your buildings and contents, including extended liability. We can also provide cover for equipment such as computers, fax machines and telephones.
It sounds innocuous, but something as simple as a client suffering a fall in your home could result in legal action. The RAC Home business policy can protect you should this occur.
Professional Indemnity Insurance
If a startup company provides advice to businesses or individuals then Professional Indemnity Insurance must be a real consideration. This provides cover should a client allege they have suffered a loss of earnings or reputation due to your advice.
For example, a startup providing written services for trade journals or magazines would be prudent to secure Professional Indemnity Insurance. In this instance, the RAC offers policies that cover against any liability from libel or slander actions.
A startup’s crucial early months can define its long-term success. Choosing the correct business insurance provides the peace of mind that will allow you to focus on growing your investment, so talk to a specialist RAC advisor to see how we can help.