intelligent

“ If operating your business from home , you may think you are covered by your home ’ s contents insurance , however this is not necessarily true . It is likely that any businessrelated equipment is not covered by your standard contents policy . Speak to your insurer about this , as you may be able to add extra cover for your business equipment , instead of taking out an entirely new policy . Always be sure to compare the price of this against other business contents insurance policies on the market .”

Professional indemnity insurance

Professional indemnity insurance claims are the most frequent type of claims in the UK , with 26 % of the annual total claims relating to professional indemnity issues . This covers claims made by clients and other third parties , in areas such as professional negligence , loss of money , breach of copyright and loss of documentation .

If your business does not have this cover , you could be at risk of hefty legal fees if a third party takes action against you , as well as a negative impact on your company ’ s reputation .

Andrews said : “ A professional indemnity policy could be a necessity if your business utilises a lot of ‘ traditional professions ’ – such as accountants , solicitors and financial advisors – as this cover protects your business from claims made by clients or other third parties . You ’ ll be covered if a customer makes a legal claim against you for financial loss to them because of work you have carried out , such as if you are a solicitor and advised them incorrectly .” account of the incident , personal details , policy number , details of what and how much you ’ re claiming for , including any third parties involved , and a police crime number if your claim relates to theft .

• Call the claims team : Most business insurers run a 24 / 7 claims helpline , so you should be able to speak to an adviser immediately . Alternatively , some insurers run online claims systems so you can quickly log your claim .

• Send any extra information or evidence that ’ s requested . A claims handler will contact you to let you know if you need to send anything more or fill in a claim form . You may be asked to send receipts , photos of damage or copies of health and safety policies for public liability claims . If your claim is for theft or damage , you ’ ll also need to send a list of the damaged or stolen items with their replacement costs .

• Wait for your insurer to assess your claim . It may appoint external experts such as loss adjusters or technical specialists to do so and may send someone to visit you in person . It will decide if your claim is valid and how it should be settled . �

IF OPERATING YOUR BUSINESS FROM HOME , YOU MAY THINK YOU ARE COVERED BY YOUR HOME ’ S CONTENTS INSURANCE , HOWEVER THIS IS NOT NECESSARILY TRUE .

Once you have decided which forms of business insurance are best suited to your company , you are able to rest assured that you have a safety net available to you if anything should happen .

Nevertheless , knowing how to make a claim can be an overwhelming process – there were 10,200 searches for ‘ claiming on business insurance ’ in the past year alone . Andrews instructs on what to do if your company needs to make a claim :

• Gather together your details : Make sure you have everything to hand before contacting your insurer . This includes an