There are three main types of insurance that you will probably need to look into when in business.

• Liability insurance
• General & commercial insurance
• People, life & health

Liability insurance for sole traders

As a business owner, you have a legal responsibility towards your customers and the wider public and, if your business grows, you will also have responsibility for any employees. You could be held legally liable and risk being sued if a member of the public or an employee is injured as a result of your negligence or breach of duty.

Liability insurance is designed to pay any compensation and legal costs that occur if an employer is found to be at fault. If you expand and start to employ people it is most likely that you will need to have employers liability compulsory insurance (ELCI).

General & Commercial Insurance for sole traders

Insurance can protect your business against damage to, or the loss of, physical assets. The cost of insurance depends on both the insurers assessment of the likelihood of damage and the size of any payment they may have to pay in the event of a claim.

People, Life And Health

If you suffer an injury, illness or death, there could be serious financial consequences for you or your business. Insurance can provide protection for the business itself, as well as for the individual concerned. If you are thinking about buying some insurance protection, it is always a good idea to get expert help from an independent financial adviser.

At Pro Active Resolutions we can advise you on the insurance you need and help you find the most cost effective way of obtaining the cover you need.

If you'd like more information on how we can help you with your insurance needs simply call today for a FREE consultation on 0116 2247122