Businesses today are relying on technology more than ever before. You can set up a business from home and run it online, but this will usually mean having access to a laptop or desktop PC that you can use for business operations. A good business computer alone can be quite an expensive purchase, especially if you need a powerful machine that you can rely on for a long time. Along with this, more and more people are using other devices like smartphones and tablets for running a business.
Coupled with any machinery or equipment that you might use to provide products and/or services to your customers, even if you are running a small business, the cost of the devices that you use to keep things running smoothly, communicate with your customers, and make sales, can quickly add up.
Because of this, making sure that you have the right insurance cover to protect your electronic and tech assets in the event of anything going wrong is crucial.
Getting Small Business Insurance
When you think of small business insurance the first option to spring to mind may be general or public liability insurance. This is an important first insurance policy to get as it protects your company against any claims made against you from members of the public, such as people who may have been hurt on your premises through an accident or claim that their belongings have been damaged as a result of your company’s actions. Comparing small business insurance options online is an ideal place to start. However, along with getting public liability insurance for your small business, you should also get insurance that covers any damage to or theft of the tech and electronics you use.
Why You Should Insure Business Assets
Business assets refer to any items that are owned and used by your company and its employees. This could refer to computers, computer accessories, printers, smartphones, tablets and more when it comes to electronic devices. Since your business relies on these items to continue running smoothly, it’s worth making sure that they are covered. This will help you ensure that in the event of something going wrong with one of your electronic devices, you can easily have it repaired or replaced, as the insurance company will pay out to cover the cost of it. For small businesses, this can make all the difference, especially if the issue is with an item that you rely on to sell products or services.
Today it is difficult, if not impossible to run a business without a computer. Whether you are running a small business from home or have set up a company with employees that you run out of an office, chances are that you are going to have at least one computer or laptop that is used for business purposes. Since computers are so vital to your business, it’s important to make sure that they are adequately insured. They can be quite expensive to repair or replace, so make sure that you have an insurance policy that gives you peace of mind that if anything were to happen to a company computer or laptop, you will have the cost covered and be able to continue the smooth running of the business.
Smartphones and Tablets
More and more often, company owners and their employees are using smartphones and tablets for a lot of business purposes including customer service and the general running of the business. Tablets and smartphones can be used in direct sales to show customers more information on a product they might be interested in buying or a service that they are considering signing up for. Along with this, business owners and professionals who are often on the go will typically use a business phone handset for keeping in touch with colleagues or being available to customers and clients. Since these devices are relied on more and more often, it’s worth considering getting them insured.
Many business owners today use electronic equipment for manufacturing goods, such as a Cricut. If this is the nature of your business and you rely on electronic equipment to create products to sell to your customers, then it is certainly worth taking out an insurance policy on it. Many electronic devices that can be used to manufacture goods are not cheap, and if they break down, are damaged, or are stolen, your business could be at risk. Make sure that you are able to replace your equipment quickly and easily with the right insurance policy, without having to worry about being out of business for a while as you try to get a new one.
Just as it is important to insure the electronic assets that are owned and used by your business, it’s also worth considering insuring any data that you store on them, especially customer data. Cybersecurity insurance is becoming an increasingly necessary product for many small business owners, as more and more small and medium companies become a target of cyber-attacks. No matter whether you are storing a little or a lot of customer data on your machines, it’s a good idea to have your business insured against a breach along with making sure that all the necessary security measures are taken.
Having insurance at your business premises is also worth considering if you are storing a lot of potentially expensive devices and technology inside. If you keep computers, monitors, printers, smartphones, tablets and other electronic devices on the premises, then you might be at risk of break-ins by criminals who want the opportunity to steal something of value. While having your assets themselves insured will protect you financially in the event of a break-in, insurance on the premises will pay out for any damage that might have been caused such as broken windows or locks.
There are lots of insurance policies to consider when starting a small business, such as public liability insurance. However, don’t forget about making sure that the electronic devices and assets you use on a daily basis to run your business are insured.