2016-10-28

It may only be autumn, but sudden low temperatures have got much of the UK wrapping up in their winter woollies and already complaining of a chill. So, now makes the perfect time to consult your business' insurance to ensure your business is protected should the worst happen.

After all, you'll want to keep your staff comfortable, ensure potential clients stick around and your business isn't interrupted in any way by the problems winter weather brings.

The Importance of Preparing for Winter

After the many floods and storms seen across the UK last winter, it has been revealed by the Association of British Insurers (ABI) that £24 million was paid out to businesses and families to spend on immediate needs. £15 million of this was to businesses to secure their premises, secure alternative business accommodation or to pay staff salaries.

Sadly, there were many businesses without the appropriate insurance and therefore these have struggled to recover.

Know Your Policy

As we've mentioned in our previous post 'Read the Small Print: 5 Things You Didn't Know About Your Insurance', most building's cover policies will cover the permanent internal fixtures of your commercial building, whether this is an office, shop or warehouse.

This will include features like boundary walls, plumbing and windows should they become damaged; and emergency assistance may be available if it leaves your building or business vulnerable.

However, in the majority of cases, boilers are not covered by the basic business premises policy and this 'emergency' cover is charged as an add on. The same may apply for the case of retail or industrial units, where commercial-grade, electrical fan heaters are likely to be used to warm the premises.

Why? Well, boiler breakdown is surprisingly common as little attention is often paid to them until they cause issues. Depending on the lack of maintenance and the extent of the problem, fixing a boiler can also be very expensive. Therefore, additional breakdown cover is required to avoid being left in the cold.

Stock and contents cover is necessary to protect the value of any assets you may hold in your property, and insurance should cover any employees' or visitors' personal belongings that may become damaged while in your custody.

Further to this, business interruption insurance may be required to cover the costs of any loss of trading time (and subsequently income) due to damage incurred.

Stay Protected Thanks to Business Compare

Whether it's a policy to protect your business should winter floods hit or high-winds blow a branch through your shop window, Business Compare can help you find a flexible insurance deal that fits to your business' needs.

Talk to one of our trained team members and begin comparing policies today by calling 0800 470 4648.