As specialist business insurance brokers, we provide great deals on Gibraltar business insurance with a fast and competitive business insurance solution tailored to meet your requirements for protecting your business against a wide range of risks.
We can advise on and arrange all classes of commercial and business insurance including non-standard and more complex risks.
Our range of products is designed to provide the cover that is needed for businesses of all sizes, whether this be stand-alone liability insurance products for the self employed, package insurance policies such as shop and office, for small and medium sized businesses and more complex commercial combined insurance products designed to be tailored to the need of the larger organisation.
What business insurance do I need?
All businesses face a variety of risks that can result in financial difficulty if not adequately insured against.
The actual business insurance that you require will depend upon some key factors such as the type of business you are involved in, the way in which you conduct your business and what assets are deployed in your business.
It is often easier to understand the insurance that you may need if you look at the core areas that a business insurance policy can help you.
All businesses, from the smallest to the largest are exposed to the possibility of claims being made against them in respect of their legal liability for loss. These claims may come from the third parties or from the employees of the business and these For this reason anyone engaged in business should consider an appropriate liability insurance policy.
For businesses with physical assets or operate from premises, the prudent businessman needs to consider material damage insurance to protect their assets against loss or damage. This may relate to the ownership or lease of a building, any machinery and plant that is used and any stock held within the business. For some, the loss of these physical assets could be devastating for the business for others it may just be a source of incovenience, but both can be avoided by the arrangement of an appropriate material damage insurance policy.
In the event that you do suffer a material damage claim, the income of your business can be affected as a result of the interruption to your normal business and the income of the business may also be protected by the use of a suitable business interruption insurance policy.
It is worth bearing in mind what insurance represents at it’s core is a risk transfer mechanism, your business faces certain risks that you can mitigate by transferring these risks to an insurance company, a professional risk taker in exhange for the payment of a premium.
In order to manage your business effectively it is essential that you identify the risks that your business faces.
Some of these risks are based in the commercial reality of trade, such as pricing, competition, marketing etc and it is your expertise in business that is required to effectively manage these risks. Other risks are more fortuitous in natire and whilst effective business and risk management can go a long way to mitigate some of these risks your business will remain exposed to some degree .
Working with a professional insurance broker means that you can better identify these risks and review the insurance options that are available to your business in order to protect your business against the financial implications of these risks. This is often overlooked when you deal directly with an insurance company who can only provide you with information about the products they provide.
This is in direct contrast to the services of a professional broker who can help you identify the risks your business faces and can advise you of the different types of product that are available from a wide range of insurance providers to meet those risks. Only armed with that information are you able to make the important decisions on the insurance that you need.
Other than with compulsory insurance classes, it is the decision of the business owner which risks he chooses to face and those he wishes to reduce.
As specialist business insurance brokers, we can help you in this decision process by assisting you in identifying the risks and providing you with the costs of suitable insurance arrangements with insurers.