All businesses are exposed to risks in their day-to-day operations. Without business insurance cover to provide protection against some of these risks, businesses would find it difficult to operate efficiently and profitably.
Adequate business insurance is therefore not a luxury - it is an absolute necessity.
These days, many people are not afraid to seek compensation. No win - no fee advertisements encourage claims, and businesses need to protect themselves against liability claims that could run into millions of pounds. In addition, you could be held personally responsible and even face criminal charges if found negligent.
Most small businesses are also failing to insure themselves against potential legal action from employees.
Businesses sometimes insure tangible assets like car fleets, machinery and buildings, in the same way as homeowners insure their houses and contents such as televisions, videos, etc. Businesses can also insure against losses arising from certain events.
With all the other expenses involved in setting up and operating a business, it might be tempting to have the minimum insurance required by law - insurance against risks to third parties.
However, it makes sense to get adequate insurance to avoid the risk of losing it all.
There are numerous types of business insurance for small businesses to consider, some of which are compulsory and others that are advisable.
Find out what business insurance you are legally required to have as an owner and employer, and explore the various types of insurance such as employer's liability insurance and professional indemnity insurance.
Most of the UK commercial insurance companies have different types of products, depending on your trade. These fall into three main categories:
Many insurers have developed package policies which are suited to a particular type of industry. They cover most of the main business groups, such as shops, restaurants, offices, hotels, pubs and surgeries. They have certain basic covers included, such as employer’s, public and products liability. You then add cover for contents, stock, computers, buildings, legal expenses and other covers to the package. These polices tend to be very competitive.
The most important thing to do is contact a professional adviser to discuss your needs.
Read less“Fantastic financial guidance again by John. His assistance has proved invaluable in our house move. The clerical support was also great and nothing was too much trouble.”
“As always, excellent service from John. Faultless and always on hand to answer all of our questions and address any concerns we had. Thank you.”
“Many thanks John! I’ve really appreciated your availability outside of normal working hours.”
“I would highly recommend JWC Financial Solutions. Extremely professional and very helpful. Willing to go the extra mile. Thank you!”
“Thank you John. Very helpful, compassionate and professional.”
“John has handled all of our most important financial matters over many years and is a trusted friend. He always gives the most appropriate advice to match each given situation rather than just what someone may wish to hear.”
“I found John to be very helpful and conducted himself in a very professional manner. I would recommend his services to other friends and family.”
“Excellent service, listened to our needs and swiftly found us an appropriate mortgage.”
“I feel John Connor listened to what I required, acted fairly and established a good level of trust between us.”
“Excellent service – dealt with all queries promptly and efficiently.”
“Thank you for the beautiful roses and card delivered by hand to our new home! It was a lovely surprise and welcome! You have been very patient too over a process that seemed thwart with difficulty throughout. Thank you for all you have done in arranging the mortgage. Very best wishes.”
"We remain eternally grateful for the very valuable, sound advice and help you gave to us during one of the most stressful and traumatic periods of our lives – when we had to help our son in his efforts to secure a home. We always keeping you mind and we always recommend you. We wish you every success."
"Many thanks for sorting us out. You’ve been great!"
"Thank you for all your help, guidance and expertise. You have been a real help guiding us through the unknown. We are very grateful."
"I met John Connor - IFA to discuss the purchase of a property and the various mortgage options available to us. John was incredibly knowledgeable of the products available, listened and understood our financial situation, and offered us simplified advice that we could understand in order to make relevant choices. John even advised us on planning for the future with policies that did not cost extra money but meant our property and assets were safe. John was always available and went the extra mile on several occasions.
"We have always found the service John provides to be reliable, honest and professional.
He is extremely conscientious, hardworking and we would highly recommend him."
"We have used Mr John Connor's services over many years to arrange both mortgages and insurances for all of our family.
We have found him to be honest, efficient and able to find the best products to our needs.
We will certainly use him again and would happily recommend him to anyone.
Regards,
Bryn Davies"
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Read moreCONTACT US
JWC Financial Solutions
1 Hagley Mews
Hall Drive
Hagley
Worcestershire
DY9 9LQ
T: 08435 070097, 07730 070097 or 01384 660097
Email Us
Registered Office: Hartle Croft, 20 Hartle Lane, Belbroughton, Worcestershire, DY9 9TJ
Registration Number: 08317734
Registered in England
JWC Financial Solutions Ltd is authorised and regulated by the Financial Conduct Authority. JWC Financial Solutions Ltd is entered on the Financial Services Register (www.fca.org.uk/register) under reference 649801.
The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234 567.
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