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Insurance made simple

We wanted to help people to really understand some of the terms used in insurance and this article will take you through the most common ones so you can understand exactly what you need to keep your business protected.

Public Liability
Public liability insurance covers anyone who comes onto your business property. This could be a client or a courier dropping off a package. It covers accidents such as slips or trips. These type of accidents can easily happen and could leave you with a claim for tens of thousands of pounds. Public Liability insurance would cover you for these type of accidents.

Professional Indemnity
This insurance is for people who provide a professional service, which can sometimes go wrong. This could be that you’ve done something you shouldn’t have done or not done something you should’ve. Everybody makes mistakes – we’re all human after all. Professional indemnity insurance can give you the peace of mind that you’re covered for the claim and your legal costs if something does go wrong.

Product Liability
Do you sell or use products on your clients? Or do you offer downloadable material on your website? Failure, malfunction or inadequacy of your products could cause damage to your clients and could result in a product liability claim. Product liability insurance will give you protection from these claims.

Medical Malpractice
Some of the services you offer may have a medical element and you may not even realise it. For example, claims have been made against therapists because their clients suggest their therapist’s work has caused anxiety or depression. Infections could happen through cross contamination, an accident could cause a bodily injury or a client could have a physical reaction to a product used. This insurance will cover your business.

Breach of Confidentiality
Confidentiality is such a big deal in the world of therapists and confidentiality breaches can happen for various reasons. It can happen to any of us so make sure you aren’t caught out without cover.

Cyber Liability
Because we all spend so much time online and on computers mistakes can happen. Ever hit reply instead of forward? Ever clicked a dodgy link and ended up with a virus and spread it on to others? Cyberattacks are the third most common risk facing businesses and they’re rapidly growing. Cyber liability cover will give you peace of mind that you are covered no matter what goes wrong.

Personal Accident
Accidents happen. There’s no getting away from it and we never know what’s round the next corner. If a serious injury stopped you working for a year, how would you cope financially? Personal Accident insurance gives you that plan B.

You can see that there are many different insurance products to choose from and it’s important to factor in all the risks to your business before you decide on the cover to suit you.

Westminster insurance can help you to get the right level of cover for your therapy business. Click here to contact them now

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