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Is your insurance cover up to date?
Your insurance policy is designed to alleviate the financial impact of the risks your business might face. This information is carefully gathered when you take the cover out and reviewed with you at each renewal to make sure it’s providing the protection you need.
But what if things change during the year? Insurance policies often have caveats or clauses relating to certain things, such as the number of employees you have, equipment used, type of work being carried out etc.
Let’s take the number of employees as an example. If you have an insurance policy that is based on your business having say up to 10 employees for your employer’s liability cover. At the renewal of your cover, you had 8 members of staff. During the year, one left, but you took on two new people plus a part-time office administrator. As these happened at different times, would you think about whether there’s an impact on your insurance cover?
Or with the changing world, the type of work you carry out is changing. You’ve gained a new contract with a company but some of the work there needs to be carried out at heights. Does your insurance policy cover this? Have you checked?
Some of the key points to tell us about are changes to:
- Work at heights
- Turnover and wage roll
- Becoming a Limited company
- Changes to address and/or bank details
- Taking on works relating to renewable energy
- Setting up a PAYE scheme
The most important thing is to talk to us. At NAPIT Insurance, we’re here to make sure you have the right cover throughout the year – not just at the renewal date.
If you have any questions regarding your cover, we’re here to help. Talk to our friendly team of experts.
Give us a call: 0330 9000 701 or send us an email: info@napitinsurance.co.uk
