If you intend to set yourself up in business, you may be figuring out how much you need to spend on initial costs and calculating your monthly budget. After all, you need to get a handle on your expenses before you even think about projecting your turnover. In order to come up with some accurate figures, you've got to take into account every operational cost, as well as crucial overheads. Yet have you taken enough time to consider business insurance?
Construction is a profitable commercial field, but there are numerous risks involved in completing projects. The common sources of worksite hazards include the construction materials, equipment and even the land under development. If you do not obtain the right insurance policy, you might find yourself in financial pitfalls. For example, if workers or worksite visitors sustain injuries, your company might have to provide compensation. On the other hand, civil contracting insurance can be expensive to purchase.
Embarking on a business venture opens any entrepreneur up to a myriad of risks. Before you have even hired your first employee, you need to ensure that both you as a business owner as well as your business has been properly insulated against lawsuits that could have the potential of wiping out your business before it even gets off the ground. The good news is that there is a range of insurance covers offered to business owners depending on their specific needs.
First time owners of rental property may not know how important it is to get landlord insurance cover because they think they do not need it since they do not live in that rental property. However, there are very many risks that landlord insurance covers. This article discusses some of those risks that you would be protected from if you have landlord insurance.
Liability Risks
How sure are you that your tenant or his/her visitor will not sue you for damages if they slip and fall on an unstable staircase?
