Do you know the difference between insurance products?
Public Liability Insurance
Public Liability insurance is essential if you are going into someone's home, or are organising a demonstration of the products. You may have public liability insurance in with your home insurance, but this will normally exclude business activities. If you're on a customers premises and you break something, cause a fire or flood you'll be liable. Remember that not only could direct losses (eg loss of earnings) be significant, but so could a compensation claim. These days there are plenty of legal firms offering to pursue personal injury claims on a no win - no fee basis.
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Professional Indemnity Insurance
PI insurance covers the liability incurred by giving advice to someone. You could be at risk if you gave what could be considered to be professional advice of the type normally given by professionals (eg Vets, Doctors, Therapists etc) and this was later found to be incorrect and as a result the customer had incurred loss or harm.
Business Insurance
Could your business survive a fire or burglary? How patient would your customers be if you lost all your records/stock, or indeed the house/office you kept them in? Normal domestic insurance will not cover business losses. Business Insurance will cover the losses from your business and additional costs you incur while you put everything back together (eg temporary accommodation, replacing phone/fax/PC etc). You can use Decision Finance to source the right "Business Insurance" depending on your service or nature of business. We'll make sure you're covered.
Quick Links: Business Insurance | Professional Indemnity | Landlords Insurance
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