Why You Need a Business Insurance in Ireland? Find out 5 Obvious Reasons.
Managing a business comes with risks of its own – a client may sue you alleging a breach of contract, an employee could be injured whilst on the job or a natural disaster could damage property.
It is, for this reason, it is vitally important to protect your business and its interests. Having adequate business insurance will provide the protection and ‘peace of mind’ that you need in times when things aren’t going as you’d like them to.
Here are five top reasons why you should get business insurance in Ireland.
It’s Required by the Law
The law in Ireland mandates that businesses must have employers’ liability insurance to protect their employees. Similarly, motor vehicle liability is another mandatory insurance to cover third parties.
What if You’re Sued?
If a customer or employee files suit against your business, your business could fold if you’re not adequately covered.
One broken contract, accident or disgruntled employee is all you need. Even if you end up winning the case, you might go out of business owing to the huge legal expense involved.
Instead of worrying about what may happen, liability insurance gives you peace of mind, allowing you to focus on the important job of ‘running your business’ and let your Business Insurance policy take care of any unexpected eventuality.
Business Insurance Protect Your Profits
Business interruption insurance cover protects against any eventualities that may leave your company strapped for cash. For instance, if you suffer financial loss because of damage to property and you have to pause production or business activities for some time, you are protected when you have business insurance."
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