Reasons Why You Should Insure Your Company
09 Aug, 2016 1:05 PM
Insuring your company is an important part of ensuring the longevity and success of your business. No matter how small your business is, what products you sell, or services you offer, there is some part of your business it is important you get insurance cover for your company. Below are reasons why every business needs to protect itself with the proper insurance policy.
• Disastrous losses like fires, floods etc. have been the end of many businesses. But with an insurance policy at your side, closure and losses are only temporary.
• A new business or renovated premises is a target for thieves. Therefore before you lose all your assets to thieves, you should make sure you insure your assets.
• If a customer slips and falls while on your business premises or your product has a defect that injures a customer and you do not have insurance, this could spell the end of your business.
• Business owners should have personal insurance as well. Medical insurance will ensure medical bills incurred due to an illness or injury will not wipe out a business's assets. Therefore it’s always important to have a personal injury or illness insurance cover.
How much insurance to carry will depend on your industry, the business structure and the amount of assets your business has. The location of the business if it’s within urban or rural areas and whether the building is leased or owned will also be a factor. For example, a law firm partnership that owns the building in which it is housed might need more insurance than a jewellery designer operating out of her home.
Every business, regardless of the industry, size or length of time in existence, needs to include insurance policies on its budget. Come to Liberty Life Assurance Kenya Ltd and we will assist you in giving your business the right insurance policy that it needs.
For more inquiries call us on +25420286600 or visit us at Liberty House, Mamlaka Rd, Nairobi
