Short-Term Commercial Insurance
Business insurance serves to protect businesses from losses due to circumstances or events that may take place during the normal course of business.
Appropriate insurance products are selected for companies based on their specific insurance needs and according to the type of environment in which the business operates.
Generally speaking, businesses may seek insurance to protect them against damage to property, contract disputes and lawsuits, among others.
Types of Business Insurance
Short-term insurance provides cover that can be tailor-made according to a business’ specific needs. What makes short-term insurance different is that it can be adjusted according to ever-changing needs and circumstances in the business environment.
Property insurance provides cover for signage, equipment, furniture and inventory in the event of theft, a storm or a fire.
Professional Liability Insurance
This insurance protects professionals against claims related to negligence, mistakes or failure to perform. These products will differ according to the industry.
Product Liability Insurance
Suited for businesses that manufacture products, product liability insurance protects a business that finds itself in a lawsuit due to damages caused by its products.
All vehicles that are used to carry out business operations should be insured. Although third-party insurance is the minimum cover that businesses should have, comprehensive cover will cover damages done to the vehicle itself and is often the better choice.
Standard homeowner’s insurance does not provide adequate cover for businesses that operate from a privately owned home. Additional insurance will be necessary to cover inventory and equipment.
Business Interruption Insurance
This type of insurance is particularly appropriate for companies that require a physical location to operate and provides compensation for losses incurred due to events that caused a disruption to the normal course of a business.
Olemera – Financial Advisors in Johannesburg
Our qualified financial advisors have a diverse range of skills, qualifications and expertise. We are work closely with business owners or responsible persons to identify risks associated with their business.
It is our goal to minimise financial risk and losses to businesses as well as shareholders, directors and owners.
Please feel free to contact us regarding business insurance for your business and we will help you select the perfect cover for your company.