Protecting your small business from unfortunate situations

By Henry Brown

Hopefully, all will always be smooth sailing for your business. Hopefully, things will continue to go well and move in the right direction and you won’t experience any bumps in the road. But it’s also important to remember that it’s better to be safe than sorry and that you can take various different measures to protect your business from unfortunate situations. Protecting your business can help to ensure that your company doesn’t go under at the first sign of trouble, or that major events don’t force you into bankruptcy. Here are a few measure you should take into consideration for the sake of protecting your business from a variety of unfortunate situations!

Commercial premises insurance

Your commercial premises are extremely important. It will be central to your business’ success. If you have a traditional brick and mortar store, your commercial premises will house your stock. It will be the hub where you engage with customers and make sales. If you operate from an office, this is the space where your staff will work from. It’s where customer queries are answered. It’s where your website is designed. It’s where your copy will be written, advertising campaigns organized, collaboration deals sealed. It’s where important business decisions will be made. So, these spaces are extremely important! Unfortunately, various threats can face your commercial premises. Theft, flooding, fire… a whole host of issues that could ultimately bring your company down. So, make sure that you have commercial premises insurance. This will ensure that anything lost is replaced or repaired if anything does go wrong.

Key person life insurance

Many businesses have an integral individual who is essential for the company’s running and success. If you were to unfortunately lose this person, you could find it extremely difficult to refill their role and get your business back on track. Rather than struggling financially during this time, key man life insurance could offer you a payout that could cover the financial loss you may experience during this time.

Public liability insurance

A large number of businesses deal with members of the public on a face-to-face basis. This can be customers coming into your store or any other individual being in your commercial premises. If these individuals came to any harm in your premises, you could find a large legal case on your hands where you would be expected to make a compensation pay out. This could dent your company’s finances. Instead, if you have public liability insurance, the payments wouldn’t have to come from you and your business directly. The insurance company would manage it instead.

Product liability insurance

In a similar vein, if someone becomes ill or injured as a direct result of engaging with one of your products, product liability insurance will cover any compensation cases in this area.

These are just a few different types of insurance that you should consider taking out for your business. They could make all the difference in times of difficulty or hardship.


Henry Brown is an online marketing executive. When he isn’t talking shop, he’s roaming the streets of London, uncovering the extra-ordinary in the ordinary.

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