In part three of our guide to understanding insurance, we take a look at Business Insurance, the different kinds of cover available and how it can help protect your business.

It’s important to understand the difference between Professional Indemnity and Public Liability insurance as the two types of cover can often cause confusion. Whilst both covers protect your business against legal action they offer different forms of protection.

As a yoga teacher, it’s your job to help your students leave refreshed, relaxed, and reinvigorated. However, running a yoga studio may leave you feeling the exact opposite! There’s probably a lot on your mind, including worry about potentially costly claims and lawsuits.

Chances are you’ve probably heard of both Public Liability insurance* and Professional Indemnity insurance*, and while both provide a form of cover for your business, they are very different in what they protect your businesses from.

Professional Indemnity insurance* is an important form of protection for businesses that provide specialist services or professional advice. It is designed to respond to claims against your business for losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. PI Insurance could also assist with the legal costs associated with responding to or managing claims which are covered by the policy.

Crunching numbers and helping your clients with their accounting queries is all in a day’s work as an accountant. But even with all the years of experience, training and education, mistakes can happen when you least expect them. While there are many types of accounting insurances on the market, Professional Indemnity insurance* is something to consider when looking at ways to protect your accounting business with business insurance.

Tradies guide to Business Insurance packages

There’s a great deal of responsibility and care required when you provide specialist advice and services for a living. No matter how professional you may be, all it takes is one dissatisfied client for you to potentially be dealing with a lawsuit or insurance claim. Fortunately, this is where Professional Indemnity insurance can provide protection when you need it most.

Professional Indemnity insurance may not be the most obvious type of business insurance for tradies in New Zealand, yet in reality it can be relevant and very handy given the fact that many tradies provide professional advice to their customers for a fee.

If you own a small business, there’s no denying one of the most important things you need to protect is your business assets with Small Business Insurance. But what kind of insurance do you actually need?