How to buy the best General Insurance for your business

November 29, 2018

general business insurance

Running a business is risky. Plenty of factors can go wrong. The best way to safeguard against misfortunes and unexpected occurrences is to get the right General Insurance policies for your business.

What is General Insurance and why does your business need it?

There are plenty of situations when you have to deal with unexpected and unplanned emergencies in your business such as natural disasters, theft, vandalism, riots, accidents and more. All these impact your finances and can drain your hard-earned revenue and profits.

With the right General Insurance plan, you can protect yourself financially. If something goes wrong, your insurance company will cover the costs associated with the misfortune, thereby protecting your finances.

What’s included in General Insurance for businesses?

There are several General Insurance products designed to fit the needs of all types of businesses. These span across the following categories:

  • Car Insurance – Protect your company-owned four-wheelers from accidents and other damages. Depending on the type of coverage you choose, Car Insurance covers the costs of hospitalisation and/or property damage for both the third party and the driver and passengers.
  • Two-wheeler Insurance – Just like Four-Wheeler Insurance, this protects two-wheelers owned by the business from the costs of accidents and other damages.
  • Health Insurance – This policy covers hospitalisation and other medical expenses of your employees.
  • Travel Insurance – As your business grows, your employees will have to travel overseas on business trips. With Travel Insurance, you can protect and safeguard your employees from emergencies that occur during their overseas trips like loss of passports, cancellation of flights, missing luggage, flight delays, medical emergencies and more.
  • Commercial property Insurance – This protects your business space from accidents, fire, natural disasters, theft, vandalism and more.

How to choose the right General Insurance scheme for your business:

  1. Start by identifying and assessing your risks. Make a list of all the assets – both movable and immovable — owned by your business. Only when you are aware of all the properties you need to protect, you can choose the right General Insurance policies that work for your business. In this process, you may find that a few of your employees have personal Medical Insurance coverage. They may decide to opt out of the Health Insurance provided by you. Make a comprehensive list of all properties that you need to protect.

  2. Opt for Business Insurance packages – These are special packages that bundle different types of General Insurance policies like Two-Wheeler, Car and Health Insurance together, providing you with complete coverage at the best prices.

  3. Consult an Expert – At ICICI Bank, we solicit General Insurance policies of ICICI Lombard General Insurance Company Limited. We have plenty of insurance experts who are not just well-versed with each product but also provide you with extensive support on choosing the right policies for your business.

Safeguard your business with the protection offered by General Insurance plans:

Purchasing the right General Insurance policies for your business is a smart move. However, make sure that you take help of insurance experts when choosing policies to ensure you get policies that offer comprehensive coverage at the best prices.

 

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