Business Protection Insurance provides an all-important safety net for all types of businesses. Some businesses tend to view Business Protection Insurance as an optional extra. It is far safer to consider Business Protection Insurance as part of the business plan from the first day of trading. Many businesses cease trading for all sorts of reasons but many of which could be prevented had they had some form of Business Protection Insurance in place.
Normally there can be five elements to Business Protection Insurance
- Key person insurance - also known as key man insurance
- Director/shareholder protection
- Partnership protection
- Business loan protection
- Sole trader protection
Why is Business Protection Insurance necessary?
Business Protection Insurance ensures that you, your co-workers, key persons within the business and the business itself are insured for the unexpected. If when Business Protection Insurance is in place and you experience the unexpected you can:-
- Keep the business trading
- You can replace key individuals
- Protect corporate debt
- Buy out a shareholder if they become critically ill or buy their share from their estate if they die.
If Business Protection Insurance still doesn't make sense then hopefully you will be open-minded enough to give us a call so we can pass you to our partner Chase Templeton who will give you a no obligation quote.
Chase Templeton will gladly spend some time with you to explain how Business protection works and has worked for other companies who had the foresight to take out this type of insurance contract to protect themselves and their business.
Quotter is partnered with Chase Templeton who offer free no obligation advice on Business protection.