Time to review your insurance cover?

As we gradually return to what will be a new “normal”, now is a good time to review your covers. Many companies will have scaled back their insurances in line with restrictions on their own business, and now may be the time to review or update these changes. Some areas for consideration are below.

Own Equipment
Have you previously had cover restricted to cover equipment at your own premises only? It may be prudent to check your current policy documents to ensure your cover us up to date. If you are unsure on any aspect of policy coverage please do get in touch with one of the team who will be more than happy to help. Cover for equipment throughout the UK & EU can be approved immediately, subject to insurers underwriting criteria.

Hired In Equipment
Has cover for hired in equipment previously been removed? Do you need to add new cover onto your policy? Again, it may be worthwhile checking your existing insurance arrangements to ensure you are adequately covered.

Turnover and Wage roll Estimates
As restrictions are gradually eased do you envisage a significant change to turnover and salary costs for your Business? Have the past 12 months impacted on your staffing levels and client retention which could adversely affect the future turnover of the business?
We can offer advice if you are unsure in the current unpredictable climate.

Business Activities
Some industries have been significantly impacted by the pandemic, particularly the AV & Events industry. Have you needed to diversify to recoup lost revenue?
You may even need to review your business description within your policy or consider additional insurance products to ensure you remain protected to cover any changes? Please feel free to contact the team for advice.

Public Liability Limit of Indemnity
Often necessary to meet the needs of businesses requiring high levels of Public Liability Insurance cover – for example to undertake a large contract or project. Did you reduce cover to help reduce insurance costs during the pandemic? Again, please contact us if you are unsure or to discuss your existing insurance requirements, we are here to help.