Is your business situated in Singapore? Do customers visit your shop or business area regularly? If you answered yes to both questions, then this article is for you. You see, growing a business in Singapore isn’t just about connecting with your customers or making a great product. It also involves protecting your business and employees. This could mean everything, from making your work environment safer to hiring experts who know what they are doing to handle your projects. But despite your best efforts, there is a slim chance that things such a disaster or an accident may occur. If you aren’t prepared, you are going to spend a lot of money to address them. However, if you are prepared, you won’t have to pay a dime when disaster strikes.
Want to find out how to prepare your business for the unexpected? If yes, stick around as we will be taking a close look at an insurance that can protect businesses in the event of an emergency: Allegiance’s Public Liability Insurance
This article by Jean Murray shows a type of insurance that every business owner in Singapore with many employees and interactions with clients need to have.
What Is Public Liability Insurance?
Owning a small business or being self-employed brings risks. If your business interacts with customers and the general public, you need insurance to help cover some of those risks. For example, A client comes into your office, sits in one of your chairs, and the chair collapses. Read more here.
You likely now know what public liability insurance is all about and why small, medium-sized, and large businesses in Singapore need to have it. You also now know what it protects and what it doesn’t cover. Before opting for it, you must do deep and extensive research to learn what it is all about and the risks that come with it.
The following article by Investopedia sheds light on some in-depth things you need to know about public liability insurance.
What Is Liability Insurance?
Liability insurance provides the insured party with protection against claims resulting from injuries and damage to people and/or property. Liability insurance policies cover both legal costs and any payouts for which the insured party would be responsible if found legally liable. Read more here.
You likely now know how insurance liability works and some common types of it like- product liability, indemnity, director and officer, commercial, and comprehensive general liability insurance. Do well to consult an expert before choosing among them. Do you know that there are two other insurance you need to ensure that your business is completely protected?
The following article by Singaporelegaladvice lists 3 types of insurance every business in Singapore needs to have.
3 Types of Business Insurance Every Singapore Business Needs to Buy
Often mistaken simply as a regulatory requirement, business insurance is not only about protecting you or your business. It is also a way of protecting your employees, your suppliers, and even your customers from some of these threats. Read more here.
You likely now know the three main insurance every serious business owner should opt for. Truth be told, having all of them may be difficult. But don’t let that deter you, as you will benefit from all of them in the event of an accident.
Nothing is certain in life and business. Everything could be going perfectly well right now, but things could change for the worse in a matter of seconds. If you aren’t prepared, you may use your hard-earned money to compensate the people involved in the accident.
See, you don t have to go down that path. The simple act of buying a public insurance liability can protect you from all eventualities that may come your way while running your business.
Do well to learn, as much as you can, and if possible, consult an expert who understands how it works, what it protects, and how you can get the most out of it.