There are so many different types of business available now that to use the title ‘Businessman’ generally raises eyebrows – it is beginning to draw comedic sniggers amongst the few who still recall a public school educated, pin striped, bowler & brolly kitted chappie driving to work in his Bentley. Things have most certainly changed and there are now different services to suit each kind of operation. Looking at a well known insurance company who has been in the business of protecting millions of companies for over a century, the front page of their web site shows hundreds of different types of activity with their own insurance policies. They have taken the bull by the horns and curated their policies to cover different types of threat or adversity – no two operations will ever be identical but a streamlined comprehensive policy will offer more cover in areas that suit the rigorous activities of each.
It isn’t only manufacturing that needs to be fully covered for every contingency – the recently introduced changes to the laws surrounding renting properties and the responsibilities of the new landlord has brought a massive shift in what a landlord needs to be legal and safe and what he needs to be comfortable should the more unusual incident crop up. They already have to have a safe bonded area to keep tenant deposits in – that must not be spent with the intention of just dipping in and paying it back, some time before the tenancy ceases. The deposit must stay safe and available to be repaid as soon as clearance has been agreed. A very good landlord will ensure that everything is well kept, good quality kitchenware, ovens and other fitted ‘white goods’ if fitted, would last for several years and maybe a few changes of tenant. Small things like insurance to cover any accidents in the garden caused by loose paving slabs or branches of trees snapping off and breaking a tenant’s limbs.
Other areas that get overlooked could be that family smallholding that offers a few camping spaces and small animal petting farm. This sounds idyllic but of course when you look at the reality, there are hundreds of pitfalls with opportunities for broken bones, animal bites; allergies going off the deep end. Oh and the odd camp fire getting out of hand. Now there’s an insurance policy needing to be signed on the dotted line!
