Following the recent spate of torrential storms that have besieged the United Kingdom, many businesses have had to rely on their insurance policies and indeed have had need to review their coverage to ensure that their policy meets and exceeds their requirements and expectations, particularly regarding flood insurance. Apart from the obvious peril of flood cover, business interruption cover has been scrutinised as well as liability insurance. Many businesses will know that their policy will have covered any damage as a result of a flooding but what of the cost whilst a business cannot trade or have had to relocate as a result? A good proportion of businesses would know that this cover is in place and the sums insured are adequate. Some may only have an idea, some may find that they were not even aware of cover, have no cover or be inadequately insured.

Similarly, public liability policies will have been called upon where scaffolding has come down or roofing has come away. Report all incidents, whether you believe you are negligent or not. Cheap scaffolding insurance or cheap roofers liability insurance will have differing indemnity limits.

When looking at your insurance policy consider the following points:
Read the proposal form you are signing or statement of fact that you are agreeing to.
Talk through the policy with your broker
Do not be tempted to brush through other than what is specific to your needs.
Do not assume that any automatic policy limits are acceptable and adequate.

Always speak to your insurer or advisor. If in doubt – phone.