What does a small business package policy cover me for?
Protection for contents and stock including theft
Protection for the loss of buildings if required
Cover for legal liabilities including product, public and employers liability.
Business interruption cover
Goods in transit protection
Cover for cash including transportation to and from the bank
Personal accident assault
Glass cover for shop fronts
Loss of licence for pubs/restaurants
Legal expenses cover
Small Business Packages
Insurers understand that smaller businesses can have similar requirements depending on their trade or profession.
Packages have been developed for a wide range of trades and businesses including pubs, restaurants, salons, hairdressers, shops, offices and others.
These provide a broad spectrum of covers at low cost and most leading insurers provide them.
Why do you need this insurance?
Can you answer yes to any of these statements?
You have valuable assets that need protection
You need to cover your legal liabilities and have a support team to defend you in any court action
You need to protect your income if you are not able to trade as a consequence of a loss
You are contractually bound to replace 3rd party assets (e.g. landlord’s glass in a shop front)
Thank you for taking time in finding the best insurance policy for my shop. You had my best interest at mind, the service you provided was excellent, couldn't of done a better job. Thanks again.
Emily Notaro - House Of Brands WSM
Why use Glentworth for Business Package insurance?
Glentworth has access to all major UK insurers providing small business package insurance. We also have a vast amount of experience in looking across the market to find the best fit for your business and can guide you through what cover you need and what you don’t.
A major insurance loss can cause a huge strain on a business and some never recover. It is so very important that you understand your risks and understand how to reduce them and Glentworth can play an active part in this process.
Do I need Employers Liability Insurance?
It’s not just about PAYE employees
If you have PAYE employees then it is highly likely that you will need Employers Liability cover. However, that is not the end of the story and there are other instances when you will need it – even for volunteers! Read on.
If you employ subcontractors, or workers on a casual basis you could need Employers Liability cover. The main exception is if you engage Bona Fide Subcontractors (BFSC). It is important for our clients to be able to distinguish for insurance purposes, between a labour only sub-contractor and a bona fide sub-contractor. Understanding the fundamental differences is important to ensure that correct cover and pricing is applied to your insurance policy.
Labour only Subcontractors.
A contractor employs a sub-contractor for their labour only. The labour only sub-contractor (LOSC) does not supply any materials, the LOSC is being supervised by the Contractor.
In this context there is a master and servant relationship. The contractor’s liability towards the LOSC, and arising out of the LOSC’s activity when working for them, is considered the same as if the LOSC was a direct employee.
Since this is regarded as a master and servant relationship an Employers Liability and Public Liability exposure exists. Even if the LOSC has their own insurance i.e. Public Liability. The contractor would not be able to subrogate against it. There is case law setting precedents to support this.
Bona Fide Subcontractor (BFSC).
A master and servant relationship would not be considered to be in existence.
The BFSC would be providing materials, labour and supervising their own work and invoicing accordingly. There is no Employers Liability risk but contingent Public Liability cover is required. It is likely that it will be warranted under your own insurance that you check that each BFSC holds adequate Public Liability insurance.