Broker vs Direct Insurer
August 3, 2020

Every Business should have some form of Insurance cover.

Let’s look at the most important cover you should consider:

  • Liability insurance:This is a must. Every business, no matter how small and even home-based, needs it.  It protects you if you, your employees or your products or services cause or are alleged to have caused injury or damage to a third party.
  • Property insurance:  If you own your building or just the office equipment, your policy should protect against perils such as fire and floods as well as other risks such as theft and vandalism. Remember that the building and its contents should be insured for its replacement value. That is, how much it will cost you to replace the building or equipment with similar, new structures or items.
  • Commercial vehicle insurance: You can insure your business vehicles against damage, theft, hijacking and collisions. Vehicles should be insured at market replacement value. If you’re wondering what your business vehicles are worth, Santam has put together a car calculator to help you work out the reasonable market value of your car.
  • Business interruption/loss of revenue insurance: You may want to consider this to protect your revenue if the business is unable to operate.