Business Insurance - Protecting Yourself Against Arson

It is obviously imperative for any business, whether they be a start-up or an established firm, to ensure that they are covered by a comprehensive business insurance policy that covers them in the event of events such as arson.

According to a report on the BBC, arson is now one of the most commonly claimed for eventualities on business insurance policies. According to the report, around half of all criminal related pay-outs on business insurance policies is as a result of arson, which just goes to show the importance of including scenarios such as arson on any business insurance policy that you take out. Whilst arson itself only accounted for a minimal amount of all business insurance claims in general, it clearly ranks highly on the list of crime related business insurance pay-outs which is why it is a good idea to discuss this scenario with business insurance experts to ascertain the applicability of including this sort of cover to your business insurance policy. Business insurance policies not only cover damage to the business premises themselves but also cover companies in the event that employees or customers are injured on the premises and this is clearly why it is so crucial for every company to have some form of business insurance in place.

Business Insurance - Regional Variations

According to the report on the BBC, Glasgow was the city that was most likely to make claims on business insurance policies pertaining to arson. The necessity to take out business insurance policies that cover your premises is borne out by the fact that claims for crime related pay-outs rose by a fifth last year and this means that it is imperative that your business insurance policy covers you against events such as arson, criminal damage and, although unrelated to crime, flooding.

Business Insurance - Taking it Seriously

Obviously, an increase in crime against business premises is something that needs to be taken seriously and an issue that all businesses should consider factoring into their business insurance policies. Speaking to the BBC, leading business insurance expert, Neil Mercer, states, “We are extremely concerned that business crime rates across the UK continue to rise," said AXA's head of property. We are concerned that while crime against individuals continues to generate significant column inches, public awareness of business crime remains low.” With this in mind, it is clearly apparent that business insurance policies need to be regularly scrutinised by companies to ensure that they are cover for any circumstances that may arise.

Looking for Business Insurance? Speak to City Insurance Group

City Insurance Group are one of the UK's leading suppliers of car insurance, home insurance and business insurance. City Insurance Group are an established company which have been offering insurance policies since the 1980's and boast thousands of satisfied customers who are delighted with the low premiums that are on offer. City Insurance Group provide their customers with a first rate service and offer knowledgeable and professional staff ready to offer advice on the car insurance, home insurance and business insurance policies that they have available. To find out more about the insurance policies on offer from City Insurance Group, just call 0800 0121 014 or email info@cityinsurance.co.uk.