Choosing the right business insurance for your company is essential to cover all potential risks, while protecting your assets. All too often, managers neglect to obtain the appropriate cover and find themselves at a loss when emergencies arise. However, it is possible to put in place appropriate commercial insurance for a specific business, particularly thanks to an insurance broker, to select cover that is perfectly suited to your business activities.

Cover for Property and Buildings

In the event of destruction or damage caused by a loss, the insurance must cover the goods and buildings belonging to the company. When the contract is signed, a limit is assigned to the value of the goods and buildings. This limit must be updated regularly to take account of recently acquired assets or work and improvements carried out on the buildings. It is also important to check the amount of the applicable excess, as well as the basis of settlement (replacement value or value on the day of the claim). 

Business Interruption Cover

Although a company's assets are worth a certain amount of money, most of the value of its business is based on its activity. The loss of turnover, or even customers, is the biggest risk for a company, which can quickly find itself in a situation of bankruptcy.

With the development of technology and the modernization of economic processes, the proportion of lost income in the total cost of a claim is increasing. The purpose of paying compensation for business interruption, following a covered loss, is to enable the company to cover the loss of income until normal business activity resumes.

Civil Liability Cover

No business is immune from making a mistake or being sued. To protect both the director and the company and avoid jeopardizing its existence, “civil liability” coverage is essential. General civil liability covers the risk of injury to a third party. Professional liability covers legal action taken by clients in the event of error, omission, or negligence. Product liability protects the company in the event of a defective product causing damage to a third party.

Executives and directors of boards of directors are also not immune from legal action if a management error is committed within the company. It is therefore highly advisable to take out directors' liability insurance to cover, among other things, the financial compensation they may be legally required to pay for damage caused to a third party.

Running a business requires a great deal of investment, energy and risk-taking.

All good reasons to take out business insurance tailored to your needs so you can enjoy peace of mind.