In this slideshare our guest Marie Coles shares the types of insurance that businesses should look for. Read this to get straight and clear advice. Always consult a professional for your insurance needs where necessary.

1. What Insurance do you need?
A Guest Blog from Marie Coles at
Pink Duck Insurance

2. Sometimes it can be confusing to
know what insurance is required.
Many start-up businesses just don’t
know where to start.
Here are my tips on what types of
insurance to look for as a business
owner and as a client.

3. Employer’s Liability (EL)
Insurance to cover your liability to
employees.
Employer’s Liability Insurance is a legal
requirement for all businesses, not just Ltd
companies.
If you have workers, volunteers or helpers
you must have EL cover.

4. If you employ contractors, there are also
situations where you will require Employer’s
Liability.
A good broker will always guide you to the
correct cover. If you are unsure, take advice
immediately as the penalties for not holding
this insurance could be serious.

5. Public Liability
Insurance to cover your liability to third
parties. If you visit clients at their offices or
if they come to see you then it is wise to
look at this cover.
If you are a tradesman or contractor this is a
good cover to look at as it provides cover
against damage to third party property.

6. Public Liability isn’t a legal
requirement however many
companies will request to see this
before commencing any contract
with you.

7. Product Liability
is usually packaged with Public Liability,
however do not assume that if you have
public liability, that this cover is included.
It may need to be requested.
Product liability provides cover for goods
and items which a business sells.

8. If you are a manufacturer or
retailer then take advice on
Product Liability cover along with
Public Liability.

9. Working from Home Insurance
A home insurance policy which covers business
activities. Many standard home insurers will
not cover you if you undertake any business
practice which is not purely clerical.
If you hold stock, or have clients visiting your
home and have not declared this to your home
insurer, they may well invalidate a claim.

10. It is not as simple as saying that you
do not wish to have your business
covered, and therefore you just won’t
insure it.
It is a material fact which will have a
bearing on your insurance and
therefore should be declared.

11. Professional Indemnity
Is cover for “errors and omissions” in your
work. Are you paid to provide a service or
give advice to clients?
Business mentors, Health and Wellness
Professionals, Life Coaches, Graphic and
Web Designers are examples of the types
of businesses who hold this cover.

12. If you invoice a client for advice and
services then this is an insurance to
seriously consider.

13. There are many more specific covers for
hundreds of industries across the UK. If you
are not sure there are many professional
brokers who will be able to advise you.
Marie Coles
Founder of Pink Duck Insurance
www.itsthepinkduck.co.uk
020 7100 9007
hello@itsthepinkduck.co.uk

14. This has been a slideshare presentation from
Tracy Newman Chartered Accountant
Thank you for reading
www.tracynewman.co.uk
0333 577 0135
info@tracynewman.co.uk