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SME Insurance
Business Interruption insurance, also known as BI, is a much-misunderstood cover which can often be overlooked by small business owners.
Many business owners are under the impression that their buildings and contents policies will cover all expenses they have lost, should their business suffer a loss from events such as floods, break ins or fire.
We don’t want you to have questions to be asked about the loss of income and what legal rights you have once your business is interrupted. We will breakdown the amount of money you can claim for the interrupted work period. Employers often think the cost of interrupted business is covered on their businesses insurance. It’s important to make sure you have the right insurance for every claim you could need to make, this is made simple by our categorized insurance options.
Whilst buildings and contents insurance provide cover for the initial damage, they do no not provide cover for loss of profits/ revenue or increased costs of working incurred whilst the damage is being repaired. For many business owners without BI cover, what could start off as just a period of business interruption can soon develop into business termination and financial difficulties.
It is common to arrange business interruption cover as part of a commercial package policy, Directors and Officers Insurance can also be useful if the business command line is interrupted.
There are many different causes resulting in a material damage and consequently your business being interrupted, examples include fire, flood, impact, explosion, and water damage. However, ultimately any insured peril that gives rise to a material damage claim will take effect. Nobody expects their business to be affected by a disaster such as fire, but if and when they are affected, you cannot simply rely on other policies to cover the losses.
In the event of a catastrophe, it is not always simple to replace stock or even equipment, however the premises may take much longer to be deemed safe to use, specialist tools can take a longer time to replace and before you know it, your business is being interrupted for a substantial amount of time. Perhaps even months go by where your business can’t operate as usual. In a long term period like this, it’s vital that your legal claim will pay enough to support you in getting the premises back to a safe work condition.
Business interruption policies cover the financial losses which are a direct consequence of an insured peril under the material damage section of a policy. This can include loss of revenue, loss of rental income and increased costs for staffing. This insurance is often had in collaboration with public liability insurance. It is important to consider business interruption insurance as part of a commercial package policy, no matter what size your business is.
If you still have questions about what insurance is best for reducing your companies loss of income, feel free to get in contact with our team.
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Cyber
Cyber attacks are a rapidly growing, see how we ensure you are protected.
Directors’ and Officers’
Often referred to ad 'D&O', this policy is designed to defend individuals against damaging claims.
Shops and Offices
From office blocks and home offices to hairdressers, florists and newsagents, we cover the entire scope of this sector.
Commercial Property Owners
For property owners, investors or developers, single property to portfolio's, we have the solution.
Residential Property Owners
For property owners, landlords and associations, we deliver a policy that covers all related risks.
Fleet
One policy for fleets of all sizes. Our online platform compares insurers within minutes, so you know you have the right cover.
Professional Indemnity
Often referred to as 'PI', a profession-based risk management package.
Tradespeople
Our package covers every single trade. Simple, effective and delivered by the same or following working day.
Motor Trade
For dealerships, mechanics, valeters, bodyshops and everything in-between, we've got you covered.
Landlord
Including buildings, contents, liability, unoccupied and rental protection.
Golf Course
Golf courses possess specific risks which specialised golf course insurance can help protect you against.
Bakery
Whether you are a small independent bakery, or a larger chain, it is vital you consider your level of business insurance.
IT Contractors
From basic repairs and builds through to emergency cover, your clients call on you for your expert knowledge and skill.
Coffee Shop
There are many risks associated with not only running a successful business, but in serving hot drinks and food to the public.
Architects
Professional indemnity insurance is an important policy, as you are offering professional services to other people & businesses.
Surveyors
Your clients call on you for your expertise, knowledge and skill, whether you are a quantity or land surveyor.
Wholesalers Insurance
Erskine Murray can help wholesalers to find the appropriate insurance to manage the risks to your industry and provide the right protection for your business needs.
Tech Start Up Insurance
Here at Erskine Murray, we make it easier for you to cover and protect your business with several appropriate policies packaged together.
Media Professionals Insurance
The media and marketing industries can be vulnerable to claims of negligence for what are in fact basic errors.
High Net Worth Insurance
High net worth insurance is ideal for people with high profile occupations such as sports people, actors, singers and other people in the public eye.
Graphic Designer Insurance
As the risks can be fairly wide ranging, there are lots of appropriate insurance policies which can be useful for graphic designers.
Consultants Insurance
As a consultant, your clients rely on you for your service and advice as well as being an expert in your field of work.
Civil Engineering Insurance
At Erskine Murray we understand the many risks associated with those involved with working at height, extreme depth and working with asbestos.
Business Owners Policy Insurance
Business Owners Policy, is an enhanced business insurance policy which combines property insurance alongside general liability insurance.
Contractors All Risk Insurance
Whilst all construction sites are different, there are still common risks and threats shared by them all.
Domiciliary Care Insurance
If you are a self-employed carer, or you run a home care business, you are in a position of trust and responsibility.
Who do I
Contact?
If you would like to talk more about your SME Insurance needs please contact Rob.
Rob Marshall
Head of SME
Employee Benefits
Have you considered an Employee Benefits package? Such a policy can help you attract and retain a highly skilled and dedicated workforce.
Our PI arm are specialists in providing PI insurance for architects, consulting engineers and the construction industry.
