by BDO Global
Who To Talk To About Business Insurance Policy
In a nation like South Africa there are plenty of recent companies starting up on a daily basis. Individuals are unable to find work in other companies and so begin their own in an attempt to earn an income. There is nothing wrong with this in concept. There’s a problem with getting the correct company insurance coverage in place though. Not every new business proprietor knows who to speak to when it comes to getting their particular company insured.
There are some people that you can talk to though there are two that will be the very best for you. The very first is a business financial planner that does not represent any particular insurance provider and the other would be a lawyer. They will be able to take a glance at your company and identify areas of risk that you should cover with some type of commercial insurance coverage.
A financial planner will take a look at your financials and enable you to figure out where your income is coming from and who is the most important person to your organization and just what products are the most popular and that kind of thing. You should then ensure that you get key person insurance coverage for the people who are critical to the running of your company so that if something happens to them you don’t lose more income than you need to. Additionally, you will have to then have a look at the most popular products that you’ve got on your brochure and ensure that they’re covered with copyright as well as patents along with a little insurance to ensure that if some thing does go wrong with an item you sell you will be able to compensate your client with out causing a big financial loss to your company.
A lawyer should be able to help you with identifying areas where you might be open to lawsuits and enable you to find the right kind of insurance to cover those areas of vulnerability. You don’t want to have your fledgling organization go under because of some lawsuit that you could have avoided if you just had the right kind of insurance coverage in position. They’ll additionally likely be able to help you to decide on what kind of worker risk insurance you need as well as things like vehicle insurance and building insurance coverage. For more information on business insurance coverage go to http://www.ting.co.za
If this isn’t enough info for you then you could also speak to an advisor from the insurance company that you intend on doing business with. They may have items that your lawyer or financial planner are not aware of and may cover you for things that you might find essential to have cover for.
As you can see, there is lots of business or commercial insurance coverage out there that you need to think about. Make sure that you protect your organization as well as your livelihood through getting the best insurance coverage for your individual needs. The very last thing that you want would be to have your company fall out from under you because you do not have the right insurance coverage.