AXA’s small business insurance policy provides you with cover for damage to the business’s property, public and employer liability cover, business interruption cover, and more.
As an entrepreneur or business owner it’s important that you protect yourself and your business from potential risks. Businesses are exposed to various types of uncertainty all the time and it’s almost impossible to predict events that could have severe financial consequences for business owners.
Businesses in Ireland are not legally obliged to have insurance, however it’s recommended as having insurance for your business will give you peace of mind that you are protected in the event of an unexpected accident. If you own an office, retail shop or a surgery, read this article for more information on the cover included in our small business insurance policies.
What does property insurance cover?
Property insurance cover protects your business’s property in the event that it is damaged due to a fire, a storm, a flood, theft or vandalism. If you are operating your business from a rental property, you should ensure that you have contents insurance to fully protect your contents from damage and theft.
What is liability insurance?
Liability cover is one of the most important parts of your business insurance policy as, unfortunately, accidents can happen.
Employer liability insurance will cover you if someone is hurt while working. It ensures you are protected if an employee is injured in the workplace or if they become ill as a result of an accident at work. Employer liability insurance ensures that you can afford to compensate the injured employee.
Public liability insurance will cover you in the event that a member of the public is injured as a result of your business’s negligence. It ensures you are protected and won’t have to worry about the potential cost of a large pay out, as your insurance company will pay out all genuine claims.
What happens if business is interrupted?
Here at AXA, our small business insurance policies features business interruption cover. If an unexpected event occurs to your business, the initial cost of damages will be covered by your property and contents insurance. However, you may sustain long-term interruption to your business as a result of the damage caused by an event and this could have an effect on your income. This is where business interruption cover will come in to help you cover the financial losses that are a direct consequence of an unexpected loss of revenue.
