Car insurance, house insurance, travel insurance – even pet insurance we are all pretty familiar with. In general, insurance is fairly straightforward – you drive a car, you need insurance. You go on holiday, you need insurance. But when it comes to setting up and running your business, the type of insurance you need can be much more confusing.
Firstly, there isn’t really any mandatory insurance – unless you employ people or drive company vehicles. As most business insurance is optional, cost can be a major factor. You might think some risks are worth taking and that not buying insurance can save you money.
We spoke to Simon Drysdale, director at Hallsdale Insurance Brokers about the key types of business insurance and why they might be worth investing in:
“If you are a business owner, an independent professional or self-employed, purchasing the right insurance is an important means of managing the risks of your business and protecting it for the future.
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