Small Business Insurance
(advice from Norwich Union)
Small Business Insurance is specially designed to protect both sole traders and limited companies with up to 5 employees who are based at home or at other people's premises.
Core Insurance:
Public and Products Liability
Cover against death or bodily injury to the public and loss or damage to property not owned by you or in your custody or control.
Money & Assault
Loss of money belonging to your business:
· From your premises
· Whilst in transit or in bank night safe
· From your home or employees home
· From a locked safe
Bodily injury to you or your employees as a result of assault or attempted assault whilst carrying money belonging to your business
Commercial Legal Protection
The introduction of new laws and regulations in areas such as health and safety, corporation tax and employment law creates a complex legal environment. Commercial Legal Protection provides up to cover for legal action in relation to a whole spectrum of issues affecting businesses such as employment disputes, debt recovery and VAT disputes.
Cover includes:
· Employment Disputes and Compensation Awards - defence of your legal rights under employment legislation and following a successful action by an employee, prospective employee, alleged or ex-employee we will pay any compensation award made
· Legal Defence - Defence for you or an employee acting on your behalf if any criminal action or certain civil action is taken against you for any non-motor related incident arising in connection with the business. This includes cover in the event of prosecution under health and safety legislation, data protection rules and in the event of wrongful arrest.
· Property Protection - cover provides protection for civil action following any event causing or likely to cause physical damage to your property or any nuisance or trespass. It also includes defence or appeal against judgements
· Bodily Injury - cover to negotiate your, your employees or family members legal rights, following bodily injury not involving a motor vehicle which occurs in connection with the business
· Tax Protection - We will represent you in any appeal proceedings with the Inland Revenue in a full or aspect enquiry following your corporation tax self-assessment return. Representation for appeal proceedings with HM Customs and Excise in respect of Value Added Tax due is also included.
· Contract Disputes - cover is provided to negotiate disputes relating to a contract you have entered into with a customer or supplier for the purchase or sale of goods or service where the amount in dispute exceeds £250.
· Tenancy Disputes - negotiating your legal rights in a tenancy dispute between you and your landlord not relating to rent, service charges or renewal of the agreement.
· Statutory Licence - Representing you in any appeal to the relevant statutory or regulatory body, court or tribunal following the suspension, revocation, alteration or refusal to renew your statutory licence.
· Debt Recovery - cover to negotiate your legal rights including enforcement of judgement to recover money and interest due from a customer or supplier following the sale or provision of goods and services where the amount in dispute exceeds £250.
Employers Liability
Protection against your legal liabilities for bodily injury to your employees up to a limit including costs and expenses.
Optional Insurance:
Property Damage
The tools of your trade, your laptop, mobile phone or other business equipment, are vital for running your business. This covers equipment whether it is lost, stolen or accidentally damaged anywhere in Europe and for up to 30 days anywhere in the world. This cover also extends to include business equipment while in transit or left in your vehicle. The cover also includes the cost of changing locks following theft of your keys, as well as theft of employees and visitors personal belongings.
Cover for loss, theft or accidental damage of:
· Business equipment
· Stock
· Contractors‘ tools (construction trades only)
Business Interruption
Loss of Income resulting from damage to property being used by you, including failure of utilities and telecommunications, by the amount which your income falls short of the income you would have received OR
Increased cost of working provides you with additional expenses incurred to enable you to continue trading following loss or damage. Cover can be extended to include terrorism cover.
Treatment Risk (hairdressers and beauticians)
Despite best intentions, professional errors can occur. Cover for your legal liability arising from the following optional extensions of cover
· Hair washing, drying, cutting and styling
· Hair treatments
· Beauty treatments – including cosmetic and hair removal
· Elector-mechanical slimming treatments
· Sauna, Turkish baths and hydro massage facilities
· Solaria and Sun Bed treatments
· Hair Removal by Electrolysis
· Additional Treatments
· Hiring out of Equipment
Personal Accident
24 hour cover for you and your employees (up to the age of 75) for accidental bodily injury resulting in death, permanent or temporary disablement
Business Travel
Cover for you and your employees (up to the age of 75) while travelling on company business anywhere in the world
Source: Norwich Union - http://www.norwichunion.com/self-employed-insurance/index.htm