travel Insurance
Commercial insurance policies insure business owners against such circumstances through business interruption cover. Other circumstances that can stop the flow of business include escape of water, explosion of a gas boiler or the failure of public utilities. Insurance against all of these can be included in a commercial insurance policy.
Where business owners and employees have to travel, they may require travel insurance and this may be available from their commercial insurance provider. There are some similarities between travel insurance and commercial insurance. For example, some travel insurance policies provide legal cover in case the insured person falls foul of the law while abroad. Similarly, commercial insurance will provide liability insurance so that business owners do not suffer financially if a legal claim is made against them.
Travel insurance may cover lost or stolen holiday money, while commercial insurance may cover money that is in transit, held on site, or held at the home of a trusted employee. This ensures that there will be minimal loss if money goes missing for both travellers and business owners. Business interruption cover is also similar to the cover travellers can get if they have to cut their holiday short or make alternative travel arrangements.
Travel insurance usually provides some personal accident cover for illness or injury while on holiday. This is similar to the cover provided in commercial insurance by two of the three main types of liability insurance. Employer+s liability covers employers against claims made by employees who become ill or sustain injury while working for the company. And public liability covers the same circumstances for members of the public who may be on the premises.
In addition, commercial insurance is like travel insurance in one more way. Just as travellers+ possessions are covered by a travel policy, commercial insurance may include contents cover for the equipment that is stored on business premises. And where employees live on the premises, that cover may also extend to their belongings. That means that if there is a burglary and equipment is stolen or damaged, that will be covered by the policy. Whichever type of policy you need, it+s best to make sure that you have adequate cover – and don+t forget that you can probably go to a single location for both travel insurance and commercial insurance.
