Guides RSS



Your business insurance options explained

  No two businesses are the same, but every business has one thing in common – the need to protect themselves from the worst-case scenario. To do so you need to understand the different business insurance options available to protect your business, revenue, staff and customers against whatever might happen. These are your options for business cover: Professional indemnity insurance This covers you against any claim against you or your staff for claims of professional neglect, omission or error. It is possible to give out bad advice, and clients suffer from following it, this type of business insurance protects you from this. Life and critical illness cover If you were unable to work tomorrow, would your business still be able...

Continue reading



Buy to let insurance explained

Buy to let properties have become a firm favourite with property investors since is become a mainstream investment option back in 1996, with the launch of an initiative by the Association of Residential Letting Agents. As investment is has been proven again and again to be highly desirable, but as a day to day, operation owning buy to let properties comes with its own unique issues. It is these issues that make buy to let insurance a necessity, protecting landlords against anything that might go wrong (and many things can). It is a different type of cover to standard home insurance, covering not just the building but aspects like loss of rental income, protecting both the material assets and your...

Continue reading



Buy to let mortgage deposits – explained

To raise enough capital to purchase a property to let out, in most cases, you will require a buy to let mortgage. As a secured finance solution buy to let mortgages are widely used by commercial landlords and property investors, allowing them to raise a large sum of money whilst renting the property concerned - a sound business investment. But an area that often causes confusion is the matter of deposits. Why do you have to pay a mortgage deposit? Paying a deposit, alongside the collateral in the form of the property, provides the mortgage lender with more certainty that you are committed to the transaction and intend to honour it. If you default on mortgage payments not only will...

Continue reading



Why purchase loan protection cover

When taking out a loan for your business, it is common to want to keep the associated costs as low as possible. Providers will always up-sell additional insurance and benefit, some of which you may not need. But others like loan protection cover should be seriously considered. What is loan protection cover? Business loans are usually secured against guarantors (owners, directors or other key individuals) within the business. In the result of their death, the loan would still need to be repaid. Would your business survive in this scenario? Many lenders request loan protection cover as a matter of course, as this type of insurance allows companies to repay outstanding loans if the worst were to happen to one of...

Continue reading



Preparing a post-lockdown business continuity plan

Business owners currently face unprecedented challenges in the wake of the Covid-19 restrictions, challenges that impact staff, business property and the ability to trade. Those companies that already had a business continuity plan in place are likely to weather this storm more effectively than those that were taken by surprise. A business continuity plan sets out procedures and actions that a business can follow in case of an emergency. This can be a flood, fire, cyber attack or, in this case, a global pandemic. It is rare to get advance notice of a disaster, so a robust and actionable business continuity plan to maintain business functions or resume them quickly is essential. These plans usually cover staff, business partners, assets...

Continue reading