General FAQs
– We are part of Premier Insurance who are an independent insurance broker. we have been established 25 years and are a member of the broker network which means we can provide you with the best quotes in the market.
Every business should take out insurance to protect against any number of risks, from damage to property to injury to others. Without the right business insurance, your organisation could be financially liable to rectify damage or cover compensation and legal costs if someone gets hurt.
Your business insurance needs will depend on the structure and activities of your business. Most small businesses require insurance to cover liabilities towards others as well as protect assets such as contents and equipment. There are other business insurance covers available that will largely depend on your profession.
The cost of your business insurance will depend on your business activities, location and the amount and type of goods you wish to insure, years trading and your claims experience. Like any other insurance, generally the more cover you require the higher the premium.
Business insurance premiums are calculated by taking into consideration a number of factors, each of which has their own rating in terms of pricing. Rating factors can include trade, location and levels of cover, your claims experience and years trading, to name a few. The combination of these factors will help to calculate the risks in your business and generate a premium to reflect that.
– Business insurance typically covers a range of risks from injury to property damage and much more. There are many types of insurance available for different commercial sectors, all of which can be tailored to your business needs. There are a number of package policies which provide you with an expansive level of cover such as Material Damage, Theft, Money, Goods in Transit, Employers Liability, Public Liability and Products Liability cover all under the same policy.
Once we understand your business information and have the quotations from our insurer partners, in most circumstances when you decide to instruct cover we can provide you with immde.
– Essentially you need enough business insurance cover to protect you against the worst case scenario that could impact your organisation financially, whether this is in relation to your business assets (so what would it cost to replace all your contents, machinery, raw material and finished goods/stock?) or liability towards others.
Try to have your existing insurance schedule and renewal notice available as this will give us the majority of the information that we will need. However, if you are a new business, don’t worry – our business insurance advisors will be able to guide you through the process of understanding and identifying your insurance needs.
We will email your policy documentation to you which means you will receive these straight away. Alternatively, if you would prefer your documents to be posted, you will normally receive them within 5 working days.
Generally insurers quotes are valid for 30 days, some insurers may offer longer such as 45 or 60 days from the date the quote was confirmed
Once you submit your details online, in the majority of cases, we will be able to provide you with a quotation so you can purchase your policy immediately. In some cases, to ensure you receive the right cover, it may be necessary to ask you some additional questions. You can select for us to call you, or alternatively call us and speak to one of our business insurance advisors straight away.
– Within the online system we have provided you with the ability to note comments so explain what you do and we will look to provide you with a quotation based on this.
– You will find details of your cover within your full policy wording and summary. Please take time to read these documents as it is important that you understand any limitations and the levels of cover included.
– You can pay annually using a credit/debit card or by making an electronic payment. Alternatively you can manage your payments through a monthly Direct Debit plan with our approved premium finance provider, Close Premium Credit.
– Your insurer may recommend the use of an alarm installer who is a member of either the National Approval Council for Security Systems (NACOSS), the National Security Inspectorate (NSI) or the Security Systems and Alarms Inspection Board (SSAIB). In some cases an intruder alarm will be a requirement of your policy and this will be explained in more detail with your quotation.
– Your insurer may require a minimum standard of security to be in place. Full details of these requirements will be provided with your quotation.
– Most of the policies we arrange offer legal expenses cover to help with any employment or legal problems you may have. For those policies which do include this cover you can choose to purchase protection as an optional extra. Legal expenses insurance will cover costs associated with a wide range of legal matters including employment and contractual disputes.
– The ELTO service aims to help those who have suffered injury or disease in the workplace identify the relevant Employers’ Liability (EL) insurer quickly and efficiently. Insurers must supply details of policies sold which include Employers’ Liability cover, to the ELTO within strict timelines, to ensure that the database is kept up to date. Your insurer will share with ELTO the information you provide when a policy is purchased.
You will be required to provide your Employer Reference Number (ERN) which is allocated by HMRC. The ERN is the PAYE tax code given to a company as a reference number for their employees’ income tax and national insurance contributions. It is commonly referred to as the ‘Employer PAYE Reference’ and may be found on a number of PAYE forms and documents, including P45, P60 and P11D.
– If you have experienced a claim in the past but are not sure of the details, speak to your previous insurer or broker, and they will be able to give you details of your previous claims history. This is something that all insurers will ask for when you are searching the market, so make sure you get these details in full to make arranging your insurance as smooth as possible.
– A clause (or endorsement) within an insurance policy sets out the insureds rights and obligations in fulfilling their part of the contract with the Insurer. Generally, a clause will be about one subject and will detail the terms of a specific part of the contract. It must be strictly complied with in order for any potential future claims payments to be met.
– A single article limit within an insurance policy refers to the maximum amount that an insurer will pay out in the event of a claim for any one item.
– Insurance premium tax is the tax applied by government to business insurance. VAT does not apply to business insurance.
– Excesses are the initial amount of a claim payment that the policyholder is responsible for. This can vary between different cover types and is typically higher for covers such as subsidence and flood.
– Business insurance excesses can range from £100 upwards, depending on the cover that it relates to. Risks that will typically generate higher losses may have higher excesses, for instance subsidence excesses generally start at £1000. Higher excesses may also be applied by an insurer as a condition of cover if the risk of a loss is deemed to be higher than average. You should check your policy details or speak to your insurer to confirm your policy excesses. In certain circumstances you can voluntarily increase your excess to help reduce the insurance premium but remember you will be responsible for more of the claim cost.
– The Insurance Act 2015 applies to all commercial insurance contracts and reforms the way in which risks are presented to insurers, particularly in terms of misrepresentations and fraud in relation to claims.
– If there is more than one director of the limited company then as a minimum you will need to take out employers’ liability insurance. It is recommended that you include other insurance covers to protect your business such as public liability insurance, business interruption, professional indemnity, directors and officers liability and cyber liability as well as other covers relevant to your business.
– You should review your business insurance policies at least once a year at the point of renewal, or at any point that you make changes to your business activities. This could include staffing levels, items of stock or other processes involved in the day to day running of your business. This list is not exhaustive so if you are unsure whether or not a change will affect your insurance, speak to your broker or insurance company.
Cover FAQs
– Employers’ liability insurance is a type of liability insurance that is required by law to protect against claims for compensation if an employee sustains an injury whilst at work. If you are an employer then you have a legal obligation to have this insurance in place.
– Public liability insurance can cover the cost of compensation as well as any associated legal costs awarded to a member of the public if they are accidentally injured or their property is damaged as a result of your business activities. Find out more about Public Liability Insurance.
Cover Explained
- – could pay for repairs in the event of a fire, sudden flooding or vandalism for example.
- – is a type of business insurance that can protect the possessions and equipment in your work premises. A typical business contents insurance policy will cover damage or loss to furniture, tools and equipment as a result of a fire, flood or theft.
- – is a type of business insurance that can protect the finished goods and the raw material stored used in the process. A typical business stock and raw material insurance policy will cover damage or loss as a result of a fire, flood or theft. The policy will cover you for the cost of the material and not the retail value of the finished goods
- – is a type of insurance that covers the loss of income that a business suffers after a disaster. The income loss covered may be due to disaster-related closing of the business facility or due to the rebuilding process after a disaster.
- -Employers’ liability insurance protects your business against compensation claims made by members of staff if they suffer an accident or injury at work during the course of their employment.
- – is designed to protect your business against claims resulting from accidents or injuries that occur as result of your business activities, as well as accidental damage to property owned or controlled by someone else..
- -covers the cost of compensating anyone who is injured by a faulty product that your business designs, manufactures or supplies.
- – It allows you to insure all vehicles under one policy rather than individually and you can either insure all drivers to all vehicles or assign named drivers.
- – provides protection against loss of money, stock or property sustained from the dishonest or fraudulent act of an employee. … Employee Dishonesty cover is an essential part of your business protection.
- – protects the goods you transport against damage or destruction, loss, theft with the option to cover items being sent by third parties
- – (previously known as Boiler and Machinery (BM) insurance) is a type of property and casualty insurance specific to types of machinery. It covers any loss incurred due to the breakdown of faulty equipment as well as the costs to repair or replace any damaged equipment in question.
- – also known as D&O insurance – covers the cost of compensation claims made against your business’s directors and key managers (officers) for alleged wrongful acts. Wrongful acts include: breach of trust. breach of duty.
- – protects you against claims for loss or damage made by clients or third parties as a result of the impact of negligent services you provided or negligent advice you offered. Compensation claims can be brought against you even if you provided a service or offered advice for free.
- – covers legal proceedings relating to your home, employment, death or personal injury. It can also cover cases where you’ve entered into a contract for the sale and supply of goods and services. These cover you for between £50,000 and £100,000.
- – an insurance policy which provides and pays for the cost of an independent, expert loss adjuster, authorised by the FCA, to act on your behalf (as opposed to insurers) to help in the preparation, negotiation and settlement of claims. Mobi clients receive a level of cover with CEC
- – a type of insurance that provides extra cover over that offered by the core (primary), public and products liability policy. As the level of court awards in liability cases businesses are looking for higher limits . Standard Employers £10,000,000 & Public Liability cover is £2,000,000 or £5,000,000, if you require more protection than this we can source this.
- – covers expenses incurred from unexpected travel related incidents as well as emergency medical care. Depending on the plan, coverages may include emergency medical services, trip interruption, terrorism coverage, baggage loss, emergency medical evacuation, and more.
- – is a form of cover designed to protect your business from threats in the digital age, such as data breaches or malicious cyber hacks on work computer systems.[/showhide
More than just insurance
In the publican industry, non-compliance of the various laws and regulations can have some serious consequences. We make sure cover is in place should something go wrong but ultimately, we don’t want to see anything go wrong in the first place. If you have a claim then we have partnered with the experts to help get you back up and running as soon as possible
-We believe that our customers deserve more when it comes to support in the event of a claim. Although the actual claim will be handled by the insurance company, we believe that it is important for you to have the correct advice, therefore we have partnered with CEC to provide expert loss adjuster assistance. Once notified of your claim, we will contact CEC Claims and within 24 hours of notification to them, a professionally qualified Loss Adjuster will be personally assigned to your claim.Your Loss Adjuster will then provide you with practical advice to help you in attending on site to meet with your Insurers or their representatives, compiling, presenting, negotiating the claim and verifying your loss. Managing risks associated with any business situation from which a potential claim to your insurers may arise. Gathering evidence to defend liability claims against you successfully. Taking measures to secure and make your premises safe. Mitigating your loss and salvaging any undamaged items. Minimising any disruption to you or your business/home.
Alternative product options offering enhanced levels of support hours are available as an upgrade option. Please don’t hesitate to ask for details: Platinum (Unlimited hours service with a mandatory post loss fee payable).
We are proud of the service we provide our customers and can provide you with the right cover at a competitive price through our panel of insurers.
Use our online option or speak to one of our team on 03334449247, you have everything to gain and nothing to lose. Make MOBI your broker of choice.
