When setting up a company or business, it is important to make sure that the correct insurance has been arranged before you open the doors to the public.
There are a number of elements that need to be considered when arranging insurance for your business or company:
3rd Party Liability - This covers the business owner for any damage caused to a customer, be it through injury or damage to their property.
Professional Liability Insurance – This covers the business for any damages that may be caused as a result of professional negligence.
Business Contents Insurance - As with homeowner's insurance, it is important to cover the contents of the business with adequate coverage should there be a loss as a result of fire damage, water damage, theft, earthquake, terror activity or vandalism. Business contents insurance covers the company’s equipment and inventory in the event of the aforementioned situations.
Employer’s Liability Insurance - This insurance covers the employer in the event of an injury to an employee as a result of a work related accident. This coverage can be based on the number of employees working at the company or based on a budgeted amount allocated to shift workers per month.
While many business owners rent their work space, there are many who decide to purchase the property as well. For those who purchase a property, it is important to insure the property with Structure Insurance.
Goldfus Insurance & Investments takes no responsibility for changes in Israeli legislation that may alter the accuracy of the above information. For clarification of any changes, please contact us.