Over the past year, many of us have changed the way that we work or have had different requirements of our insurance company.
When looking at your insurance cover, please ensure that you have an appropriate level of cover to deal with any risks that may be associated with the business or yourself personally. This may include things such as:
- employee disputes,
- public liability,
- shareholder disputes.
- professional indemnity cover.
- motor insurance, covering things like business use, commuting from home to work,
- home insurance which needs to cover working from home provisions.
Where the circumstance is relevant to you or your employees, you should also check your insurance policies for cover associated with:
- having access to business documents from home,
- moving to a cloud based accounting system,
- cyber security cover,
- GDPR cover in case of a data breach.
It is vital that you review your current situation and ensure you have the right level of cover in place for what you’re doing now.
The main purpose of this article is merely to alert you to review the provision in place as and when a renewal takes place. Plus, if any events have happened as mentioned above, to notify your insurance company that there is a change of circumstance. It is very easy to renew when the renewal comes through. and not consider any changes, particularly if you’re doing the research yourself and using an online comparison site.
Naturally, there may be a cost associated with any changes, but if you ensure you have the right cover, you can weigh up the cost.