business insurance checklist

Match your Commercial Risks to the Business Insurance:

Carvel Insurance Brokers has produced a 20 point Business Insurance Checklist so that your business may consider the most common types of business risk and corresponding commercial insurance that is available.

Each type of business insurance policy is listed with a
‘Business Risk Action’. The three ratings below are intended as an indication of how the policy should be considered.
  
  Compulsory
 
  Recommended
 
  Optional

This business insurance checklist is intended as a guide. Before making any decisions please consult with a qualified insurance professional about your business risk.

The business occupies business premises
 
  Commercial Buildings Insurance
  Business Risk Action – Recommended
 
  Business Contents Insurance
  Business Risk Action – Recommended

The business has employees
 
  Employers Liability Insurance
  Business Risk Action – Compulsory
 
  Employment Practices Liability Insurance
  Business Risk Action – Optional

The business supplies products to customers
 
  Product Liability Insurance
  Business Risk Action – Recommended
 
    Product Recall Insurance
  Business Risk Action – Optional

The business has Directors and/or Officers
 
  Directors and Officers Liability Insurance
  Business Risk Action – Optional

Members of the public could be affected by your business activity
 
  Public Liability Insurance
  Business Risk Action - Recommended

The business is involved in the transport of goods and/or products
 
  Goods in Transit Insurance
  Business Risk Action - Recommended

Employees travel outside UK in the course of their work
 
  Employee Business Travel Insurance
  Business Risk Action - Recommended

The business owns or manages property that is rented or stands vacant
 
  Property Investors Insurance
  Business Risk Action - Recommended

The business provides professional advice or design advice
 
  Professional Indemnity Insurance
  Business Risk Action – Recommended

The business is an Architects, Independent Financial Advisors, Engineers, Brokers or Accountants
 
  Professional Indemnity Insurance
  Business Risk Action – Compulsory

Theft or dishonesty by employees is a concern
 
  Fidelity Guarantee Insurance / Employee Dishonesty Insurance
  Business Risk Action – Optional

The business depends on operation of CAD computers and/or machinery
 
  Engineering Insurance
  Business Risk Action – Recommended

Business disruption by fire, flood or denial of access to premises is a concern
 
  Business Interruption Insurance
  Business Risk Action – Recommended

The business operates vehicles on public roads or requires staff to use their own vehicles
 
  Third Party Motor Business Insurance 
  Business Risk Action – Compulsory
 
  Comprehensive Motor Business Insurance
  Business Risk Action – Optional

The business relies on certain people to maintain the operation of the business
 
  Key Person Insurance
  Business Risk Action – Optional

The business would be significantly affected in the event of a bad debt
 
  Trade Credit Insurance
  Business Risk Action – Optional

The business regularly disposes of waste and/or chemicals
 
  Pollution Risk Insurance
  Business Risk Action – Optional

The business occupies a premises with large glass areas or displays significant signage
 
  Plate Glass Insurance / Sign Insurance
  Business Risk Action – Optional

The business handles cash, cheques or valuable documents
 
  Money Insurance
   Business Risk Action – Optional

The effect on the business of legal action is of particular concern
 
  Legal Expenses Insurance
  Business Risk Action – Optional

Please Note:- This Business Insurance Checklist is intended as a guide.
Before business risk decisions are made, consult with a qualified insurance professional.