Maltings Business Insurance
The Maltings Partnership Ltd. is a private limited company with headquarters in Hertfordshire. It is a managing general agent brand appointed by Simply Business and underwritten by AXA and General Lakes. Their primary role is to encourage clients to apply with the insurers they work with by identifying suitable policies and negotiating them.
The company was founded in 1998 and has since progressed immensely, earning an impressive revenue in 2020, a successful amount when considering there are only a few known employees. The director, Timothy Roger, has been active since the beginning and helps establish the company’s trustworthy and reliable reputation. They work closely with their clients to create a connection with them, representing the insurance companies they are associated with to offer the most suitable policy to their clients.
If you would like to read more information or learn more about the pricing of business insurance, you can do so here.
What Does Maltings Business Insurance Cover?
Maltings works with multiple covers aimed at businesses to help protect their assets by providing a safety net if money needs to be spent on fighting claims.
1. Public liability insurance
Public liability insurance is the most common business cover because businesses in any industry sector can utilise it. From contractors to beauty therapists, any public member could enter the establishment and get injured. This could be anything from slipping on a wet floor and injuring a leg to a shelf falling off the wall and causing a head or arm injury. Likewise, the property could be damaged, let’s say if a hairdresser dropped permanent dye on a client’s coat or got water over their phone.
Insurance can be as low as £6.80 per month, but this may not be tailored to your specific business. Similarly, it won’t be comprehensive enough; hence why Maltings can negotiate a fair price and specific policy just for your business.
2. Employers’ liability insurance
Equally to public liability insurance, employers’ liability insurance can be targeted at all businesses and is not exclusive to one trade. Maltings are aware that it is compulsory to obtain in the UK and can result in severe, hefty fines in the absence of one.
It should be acquired as soon as a business opens. For instance, any professional worker can trip over tools lying on the floor and sustain a muscle injury. More specifically, a construction worker could need a hearing consultation due to the strain on their ear from continuously working on a loud site, or an accountant could require an eye consultation from working on the computer all day for multiple consecutive years.
3. Professional indemnity insurance
Professional indemnity insurance can be especially advantageous for professions like lifestyle consultants, engineers, interior designers and advertisers, where the majority of the stages of the job include giving advice and a professional opinion on the project. Unfortunately, these occupations are more prone to negligence claims because it is easier to make mistakes in situations where satisfaction with the outcome cannot be guaranteed.
As a result, Maltings may quote a higher price for this. For example, suppose a designer gives their work to a client but is unintentionally almost identical to another company. In that case, they could be sued for copyright, hence losing their clients a mass amount of money. In the same way, a special events photographer could take multiple photos at a wedding, but the client could claim that they are blurry or unprofessionally styled and demand their money back.
4. Equipment and tools insurance
Equipment and tools insurance is used to protect a business with costly or valuable equipment that would cost a fortune to be replaced if something happened to them. Especially for occupations like builders, food and beverage shop owners and medical professionals, there are many tools used daily, making it virtually impossible to operate without them.
Even when they are being looked after, appropriately stored and kept in mint condition, there is always a likelihood of an unpredictable event like fire or flood that can destroy them partially or entirely. Under the equipment and tools insurance policy, the money to replace these items would be recompensated.
5. Small business health insurance cover
Small business health insurance cover is often overlooked when searching for the ideal business insurance because not many companies remember to look for it, and it can frequently be forgotten. Maltings is renowned for their life insurance, whilst health insurance is essentially a form of cover to prevent circumstances becoming so dire that life insurance becomes necessary. Covered in this is medical evaluations to help come up with a diagnosis, which may include scans and consultations with professionals and treatment for the illness like medications, therapy, and at-home care. The price depends on the level of cover, but it is worthwhile considering this as it can save money and attract potential new employees.
Business contents insurance
Business contents insurance is usually a generalised cover included in business insurance because, like the multitude of covers listed above, it can be directed towards any business. Business contents denote things like furniture, electronic devices, and even personal belongings, which should be insured if they are impaired in a natural disaster or act of vandalism. The price of replacing furniture can quickly mount up if it is of a high value or lots of it. Computers are expensive and require an IT specialist to retrieve lost information or replace the software. As a result, contents insurance may seem unnecessary.
Still, it can seriously hinder progression for developing businesses if money made in profits is instead used for useless things like replacing contents.
Maltings Business Insurance
To conclude, Maltings are a business associated with insurance and help clients find their most-suitable insurance policy by identifying their needs and noting the business properties to generate a reliable quote that reflects this. Their revenue continues to increase each year. Even though they are relatively small, they are reliable because they are established by bigger businesses and have been around for long enough to understand and recognise which policies are beneficial to which trades.
Find out more about the importance of insurance here.
Other useful links about Business Insurance:
Churchill Business Insurance
Hiscox Business Insurance
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