Small Business Insurance - a variety of contracts are available to the small business owner. If you are self-employed, with out premises, the range of covers tends to be more limited, but it will be possible to obtain cover for your Liabilities and perhaps your tools and equipment.  Many “Tradesman” policies are available for Carpenters, Plumbers , Builders etc rated on a Turnover or a per capita basis.  If you run a small business with premises then a larger number of business contracts are available for your to purchase. Most insurance for business is now arranged on a package basis, it is often cheaper this way and more convenient as you will have one policy covering all of you’re chosen risks. Usually the insurer will offer you a range of core covers, this will cover such things as Contents & Stock and can include your Buildings if you are responsible for the policy.  Amongst the range of small business packaged policies are the following:-

• Shop Insurance (Retailers Insurance)

• Restaurant Insurance

• Hairdressers Insurance

• Stand alone Liability Insurance (usually for people without premises)

You will find a variety of different names for these types of polices such as Business Combined and Packaged combined etc. However they are branded by the insurer, you should decided what risks effect your business then make a decision on what you actually wish to insure against. The usual sections common to all policies are:-

• Buildings

• Contents

• Stock

• Business Interruption

• Money

• Public Liability (Products Liability)

• Employers Liability

To the above covers, you will normally be offered the choice of adding various other sections depending on your needs, some examples are:-

• Book debts - This section will usually cover you if you are unable to obtain payment of outstanding items as your books are lost by an insured peril.

• Credit Cover - this section will usually cover you against non-payment of invoices by your customers.

• Fidelity Guarantee - this section will usually cover you against staff dishonesty.

• Loss of Licence - this section will usually provide you with an indemnity if you loose a Trading licence, quite important if you are running a Public House or a Restaurant with a drinks licence.

• Frozen Food - most retailers package polices will cover this but you should check to make sure it is included if you have any frozen stock.

• Business Legal Expenses - this policy will usually provide a raft of covers protecting you against Employment disputes, disputes with suppliers and sometimes against investigations by the Inland Revenue.

• Professional Indemnity Cover - if you offer any professional advise such as that obtained from an Architect or a Solicitor, then this policy will provide you with an indemnity for claims made against you by a customer. Before a payment can be made under the policy, the insurers and courts if necessary will have to be satisfied that the person or firm operating in the industry concerned gave advice below what could normally be expected.

What ever your business needs, it is a good idea to shop around and compare quotes, this has been made easier by the Introduction of the Key Facts leaflet which insurers are obliged to give you.