The 4 Most Commonly Under-Insured Commercial Policies
Trevellyan Insurance Brokers
by admin
3y ago
Under-Insured company’s assets are being valued and insured at less than their true worth, leaving you inadequately protected. Therefore, in the event of a disaster, you would be compensated for less than the true value of your loss. Any commercial policy can be underinsured but insurance experts identify the following as the most common areas of concern: Buildings: An estimated 80% of UK commercial properties are underinsured according to a recent survey. Failing to regularly reassess the value of your property and adjust your policy accordingly could lead to your business being underinsured ..read more
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Property Insurance Tips
Trevellyan Insurance Brokers
by admin
3y ago
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialised forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or boiler insurance. Key takeaway – understanding property insurance There are five types of property insurance coverage tips: replacement cost, actual cash value, and extended replacement costs. Replacement cost Covers the cost of repairing or replacing property at the same or equal value. The coverage is based on replacement cost values rather than the cas ..read more
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Protecting Employees From Coronavirus
Trevellyan Insurance Brokers
by admin
3y ago
Useful Documents: Coronavirus Job Retention Scheme Briefing Notes Infographic Common BI Policy Extensions Risk Insights – 6 Steps to Minimise Business Interruptions Cyber risks and liabilities Keeping Remote Employees Protected from Cyber-attack During COVID-19 Coronavirus is a family of viruses that cause illnesses ranging from the common cold to more severe diseases. Common signs of infection include headache, fever, cough, sore throat, runny nose and breathing difficulties. In more severe cases, the infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even de ..read more
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Importance of Renewing Your Fleet Insurance
Trevellyan Insurance Brokers
by admin
3y ago
The importance of having fleet insurance is to protect your vehicles around the business, making sure that it is covered for theft, fire, vandalism, accident and more. For a business that operates a fleet of vehicles. Keeping them running smoothly on a day-to-day basis is an important job. However, this is a crucial insurance policy to have as it can be dealt with promptly. What is Fleet insurance! Motor fleet insurance allows a business to buy insurance coverage for all vehicles in the fleet with one single policy. Furthermore, this allows businesses to benefit from a bulk discount. Fleet Ins ..read more
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Importance of Renewing Your Business Insurance
Trevellyan Insurance Brokers
by admin
3y ago
Businesses need business insurance renewed as it helps cover the costs associated with property damage and liability claims. Without business insurance, company owners may have to pay out-of-pocket for costly damages and legal claims against their company. As a company owner, you may be asking yourself, “is business insurance required? why is this important?” All businesses should have business insurance as it helps protect their organisations or companies, these could include: Type of work you do Your physical premises Property and equipment Intellectual property Employees and customers Comme ..read more
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The Advantages of Having a Fleet Insurance Policy
Trevellyan Insurance Brokers
by admin
3y ago
Fleet insurance is as the name would suggest, cover for all your vehicles (the fleet) under the convenience of one policy. However, you will need at least two vehicles to be considered for a fleet policy. If your business has more than one vehicle and you want to save time and money, then you may be better off covering all your cars, bikes, vans or trucks with a single fleet vehicle insurance policy. What are the advantages? Fleet insurance can have several benefits for your business including; It’s less hassle: Fleet insurance is easier to keep track of as you will only have one renewal ..read more
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Unoccupied Property Insurance that’s Right for You
Trevellyan Insurance Brokers
by admin
3y ago
Owning an unoccupied building can pose serious liabilities as unoccupied buildings are more susceptible to vandalism, undetected repairs, fire, and other losses. If you own unoccupied property, it is advisable to purchase unoccupied property insurance. Risks Fire Lightning damage Explosion Windstorm or hail damage Smoke damage Theft and attempted theft Riot or civil commotion damage Escape of water Subsidence Vandalism (no one is present to deter vandals) Malicious mischief on the property and general property destruction   Insurance Solutions Under most policies, unoccupied property insu ..read more
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Benefits of Professional Indemnity Insurance
Trevellyan Insurance Brokers
by admin
3y ago
Professional indemnity (PI) insurance applies to individuals and organizations involved in providing services based extensively on personal knowledge and skills. It protects your business against claims for the loss by a client or a third party if you make mistakes and are found to have been negligent. Benefits: Financial protection from lawsuits: Financial losses from lawsuits can interrupt your business. If you have PI Insurance, all the defence cost is by the insurer itself. Such as costs for the lawyer fee, court cost, filing legal papers and more. Peace of mind: Performing professional se ..read more
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Considerations When Choosing Employers’ Liability Limits
Trevellyan Insurance Brokers
by admin
3y ago
Employers’ liability (EL) insurance protects your business from claims of neglect made by the employees who have suffered an injury or ill health due to their work. Unlike most other types of insurance, EL is compulsory. If your business employs workers based in England, Scotland or Wales (including offshore installations or associated structures), your business must carry EL cover to avoid significant fines. By the law, your business is required to carry at least £5 million of EL cover. However, depending on the size and the nature of your business, the minimum level of cover may not offer ad ..read more
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Professional Indemnity Insurance; What Is It and What Can It Do for My Business?
Trevellyan Insurance Brokers
by admin
3y ago
Professional indemnity (PI) insurance can cover a broad range of potential risks. Even though things that seem to be small errors can be hugely expensive for you and your business. But with the help of a professional indemnity insurance, it can safeguard your business. Companies that commonly need professional indemnity insurance are; architect firms, recruitment agency, consultancy firms, accounting practices, and much more. But what exactly can PI protect you from? How do you know you are in breach of it? What service do I need to do to get a PI insurance policy? In this blog, we will be ans ..read more
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