Insurance

Business Insurance / Public Liability Insurance

Business insurance is one of those things that many companies view as a necessary pain - but think about all the potential disasters out there facing a business. You need to make sure your company is protected.

Many business owners also don't realise that commercial insurance is a legal obligation - and many don't realise that commercial insurance policies are based on common packages unlike home insurance for example. Our panel of insurance specialists will determine your needs and create a customised policy for you.

Looking for public liability insurance cover can be extremely time consuming and often very frustrating. We aim to make the process of obtaining public liability insurance as simple as possible. We deal with over 20 business insurance specialists who are able to offer comprehensive insurance cover at extremely competitive rates.

Professional indemnity insurance (PI) provides protection for businesses which offer advice or services to third parties (i.e. members of the public or businesses). A typical example of someone who requires professional indemnity insurance is a website designer; if they put incorrect information on a website about their client and subsequently damages their reputation then they could be liable to pay damages. Professional indemnity insurance would protect the designer so that for any damages awarded against him the policy will pay. Professional indemnity could also apply to accountants, graphic designers and information technology consultants.

Landlord Insurance

As a landlord there are certain risks which you need to protect yourself against in order to ensure that in the event that there is an accident you will have the adequate insurance in place to rectify the problem. We have teamed up with one of the UK's leading landlord insurance specialists to provide landlords with cover for buildings, contents up to £25,000 and terrorism cover. We are also able to offer instant online quotations even if you have a portfolio of properties.
Get a Landlord Insurance Quotation Now!

Finding a public liability insurance specialist if you are a tradesman or construction worker can be difficult, even once you found an insurer who will provide you a quotation they may not be able to offer you affordable insurance cover without sacrificing cover. We are able to offer comprehensive business insurance cover for tradesman and construction workers at extremely competitive rates.

Running a shop can be a risky business do not increase that risk by not having the adequate insurance cover to protect your business. Our business insurance specialists do not offer standard off the shelf policies, they realise that each business is different. They build a tailored insurance policy around your business activities to ensure you are fully covered.

Liability insurance is an essential insurance cover for all businesses. It is designed to cover your business so that in the event that a third party claims that as a direct result of your corporations negligence (lack of care) they have suffered physical injuries or death. Public liability insurance can also cover you in the event that during your business activities you damage a third parties property and they subsequently sue your business you will have adequate cover to fully protect your business.

Employers liability insurance is a compulsory insurance cover that all employers must have by law. The cover is designed to protect your business so that in the event that your actions towards employees are seen to be negligent and they subsequently suffer bodily injury or death, you will have the adequate insurance cover to protect your business.

Shop Insurance
Decision Finance offers insurance quotes on over 300 types of shop, retail outlet, public house and restaurant. No matter what you sell, there is a possibility of an accident happening on your premises and having the appropriate insurance cover offers peace of mind if the worst happens.

Your business is vulnerable to claims from both employees and customers, so in addition to making your business premises as safe as possible, the following types of insurance cover offer protection from compensation claims and for damage to your own property.

Employers Liability Insurance Required by law if you have employees, this type of insurance protects you from claims from staff who have been injured or made ill at work through the fault of your business.

Public Liability Insurance The nature of your business means that customers will be visiting your premises to shop, and if they happen to have an accident and injure themselves whilst there, you might end up facing a claim if it was your fault.

A customer might, for example, trip on a carelessly discarded box or item that has fallen from an overstocked shelf. If they hurt their back, or put their hand through a glass display resulting in a serious injury, they are likely to try to claim compensation.

Public Liability Insurance covers such claims and usually any legal expenses involved.
Stock Protection If you hold stock on the premises insurers will generally allow you to choose how much stock to cover and it will be protected against fire, flood and theft etc.

Contents & fittings Insurance You can cover valuable contents and fittings separately from the building.

Cash Cover If you store cash on site, this can also be insured against theft. You can even add on theft by an employee.

Landlord Insurance
Instant landlord insurance quotes in just a few simple steps:

Buy to let insurance overview

Buy to let insurance is a combination of covers packaged together by insurers to provide landlords with the essential components to ensure that their investment is adequately protected.

All types of landlords require insurance for their properties. From the landlord who owns a single small flat, to the entrepreneur who controls a large portfolio of property, the chances are that a significant amount of capital is tied up in the property, and that a certain amount of income is expected. landlord insurance protects you against losing your capital investment, and can also help protect the income stream you receive through your tenants paying rent.

Buy to Let Insurance Cover
The following is a summary of the typical insurance covers which make up a landlords insurance policy.

Property Insurance: The building itself is insured against most risks such as flood and fire for the cost or repair or rebuilding. Even risks such as terrorism or subsidence can normally be purchased as optional extras for added security from most insurers.

It is important to remember that you when you declare the value of your property you are actually estimating the cost of rebuilding it should it be totally destroyed (this is what insurance companies call a total loss). Most insurance companies work out a rate to charge the landlord based on the location of the property and then apply it to the amount specified to rebuild the building (which is called the Buildings Sum Insured). It is therefore cheaper to insure a building that is worth less than an expensive building which is as expected.

It is equally important to make sure that you do not underestimate the cost of rebuilding your property. If you have paid a lower premium by underestimating the Buildings Sum Insured, then the insurer will normally only pay your claims up to the proportion of the building that you have insured. For example: If your house is worth £100,000 but you only declare a Buildings Sum Insured of £60,000; should you have a claim of £10,000 then the insurer will only pay you £6,000 as they will deem that you under-insured. It is important not to be caught out by this by being tempted by lower premiums for lower Buildings Sum Insured.

Contents: For a landlord insurance policy when an insurer talks about insuring contents they are not talking about the tenants contents. Insuring these is the responsibility of the tenants themselves and can be done through a normal home insurance policy. The contents that you can insure are items that you own in the property but which may become damaged such as carpets, sofas, tables, chairs and pictures if you are renting the property as furnished. Many insurers also insure communal contents which will cover contents such as those names above which are situated in communal areas in blocks of flats, or properties with multiple types of tenants.

Landlord Liability: As a landlord you are responsible for the safety of the property that your tenants are living in. This means that should a tenant harm themselves due to something dangerous in the property they can make a claim against you for damages. For example, a tenant may electrocute themselves on a faulty light switch and badly burn their hand as a result. The Landlord Liability cover will pay for any damages that are awarded to the tenant as well as all legal costs.

Frequently Asked Questions:

Why can’t I buy normal home insurance for a buy to let property? By renting a property out to a tenant, you are effectively operating as a business, even if the income is very small. For this reason you must purchase business insurance, of which Landlord Liability is a subset. As a landlord you have legal responsibilities towards your tenants in a way that you do not have for your own home. A landlord insurance policy covers you for this.

Can I insure my tenant’s contents on my landlord insurance policy? No. You can only insure your own contents on your landlord insurance policy; your tenants must take out their own insurance should they wish to protect their contents. The reason for this goes back to one of the principal rules of insurance, which is that the entity that is being insured must be owned or directly effect the person who is taking out the insurance contract. If this rule is not strictly adhered to, the insurance contract can develop a moral hazard and end up more like speculation/gambling.