Running a business comes with different risks. We can’t be sure of everything that will or will not happen however, we can certainly take steps to mitigate some of the consequences of events that are out of our control like damage caused by fire or personal injuries at work.
Most businesses consider insurance as a necessary expense that comes to the rescue in times of adversity. Not really an exciting aspect of managing a business but essential all the same. Here are 3 creative ways you can improve your business insurance in Ireland.
1. Protect Your Employees
Your employees are your biggest asset. They allow your business to offer its products/services and help you stay in business. By protecting your employees, you are protecting your business interests whilst fulfilling your duty as a responsible business/organisation and employer.
2. Help Your Business Hold Its Own Against Litigation Costs
If for some unforeseen reason that you find your business in the unwanted situation of someone filing a liability claim against your company, in the absence of having adequate business insurance, then the cost of the litigation and claim could easily put your company completely out of business, no matter what its size or length of time in business.
It could be an accident, a disgruntled employee, a broken contract or a faulty product. And in such an instance, you might be facing a lawsuit or looking at escalating costs that are far higher than your business can cope with.
3. Keep your business running in spite of an unforeseen Disaster
In the event of a flood, fire, earthquake or theft, your business could suffer heavily. With business interruption insurance, any expenses or lost revenue would be covered for, while you focus on getting your business back on the track.
Although it’s not a legal requirement to have ‘business interruption insurance cover’ in Ireland, the additional security of having this type of extra business insurance cover, will ensure your that your Irish business can continue to run on a day to day basis, while you concentrate on getting back on track.
Conclusion
Business insurance can help your business survive the consequences of unforeseen incidents and natural disasters and unpredicted litigation claims against your business. Get creative and look at different aspects of your business that could benefit from having business insurance and focus on managing your business in the knowledge that you are covered in case ‘something goes wrong’.
Britton Insurance compares multiple quotes to help you find the best business insurance in Ireland. Call 074 9721 304 or email admin@brittoninsurance.com to request a quote for business Insurance, Home Insurance, House Insurance, Commercial Property Insurance, Motor Insurance Van Insurance, Car Insurance and more.