As a Health, Fitness, Well-Being and / or Beauty Professional, in addition to your Professional Liability Insurance, you may also require cover for the loss or damage to the buildings, contents and equipment that you own and / or are responsible for.
Balens have devised and arranged a selection of bespoke contents packages, that are specially aimed to meet the needs of small to medium sized Health, Well-Being, Fitness or Beauty businesses, with other options for larger entities. These protection policies can be stand alone or integrated with your Professional Liability insurance requirements either for yourself as an individual or for your corporate business. Cover can be amended at any time to cope with your changing business requirements.
These policies provide a safety net for all types of businesses, and is something to be considered as part of your business plan from the first day of trading. Whether you own or rent a premise, we have options available for you, and are able to cater for all insurance exposures regardless of size.
Benefits of the Balens Business Protection Policy
Dependent upon the business needs, we offer two Contents packages which include Employers Liability Insurance – Business Protection Standard, and Business Protection Standard Plus. Where business requirements fall outside of the limits of these packages, we have access to various markets in order to offer a more bespoke insurance solution.
Business Protection Standard
This packaged policy is principally designed for small businesses who wish to insure a minimal level of contents and may also require Employers Liability Insurance. Levels of cover cannot be increased or amended. This benefit is available in the Business Protection Standard Plus option.
The core sections of cover provided as standard within both policies are:
£1m Public Liability
This covers liability in law for causing injury to other people (not necessarily clients / patients) or for damage to their property, provided that the incident was not related to treatment or advice given.
£10m Employers Liability
This covers the Employer if they are held legally liable for injury caused to any employees, volunteers or work experience assistants sustained during the course of their work.
- This cover is typically a legal requirement where staff are employed or you have volunteers working within your business. Self-employed people are not usually covered by this.
- Cover limit is reduced to £5m if arising out of terrorism.
Includes stock and static electrical equipment for Business Protection Standard Package.
Stock and Equipment are available as an Optional Extension on the Standard Plus package.
Office equipment and all other contents (i.e. items other than the structure of the building) are insured against accidental loss or damage occurring at the premises. Also includes:
- Personal assault - bodily injury to you or your employees in the event of assault consequent upon robbery or hold-up whilst engaged in duties connected with the business.
To insure any Partner, Director or employee of the company whilst engaged in duties in connection with the business against accidental bodily injury or death caused solely by violent external and visible means.
This covers loss or damage anywhere in the UK for travel to and from the bank - e.g. takings, wages and in the premises for the usual insured perils during business hours. Out of business hours cover reduces significantly unless money and credit card vouchers etc. are kept in an approved locked safe.
Cover for breakage to fixed plain, plate, sheet or wired glass at the premises together with the necessary cost of temporary boarding up. In addition, cover for breakage of fixed mirrors and fixed glass in furniture at the premises is also included.
Business Protection Standard Plus:
If the Business Protection Standard is not suitable, the Standard Plus policy can be tailored to meet the insurance requirements of your business.
This package includes the cover as noted above with the option to amend the levels of sums insured and limits of Liability to suit your specific requirements. You may also extend the policy cover to include the following optional extensions:
Insured against accidental loss or damage. Includes architects’ and surveyors’ fees and other costs - accidental damage to underground service pipes and cables for which you are responsible - breakage of fixed plain or wired glass and sanitary ware. Upon referral to insurers this section may be extended to include subsidence.
Electrical and Computer Equipment
Computing, telephones, audio, television, photographic equipment including electrical equipment used for treatments and/or therapies.
including trade samples and goods in trust all pertaining to the business, the property of the insured or for which the insured is legally responsible.
All Risks Cover
For business equipment and / or stock that you take away from the business premises i.e. laptops, massage couches or similar etc. Cover may be extended to anywhere in the territorial limits agreed.
Limit of Liability £1m. This covers the business for any defect in goods sold, supplied or demonstrated to the customer or client, which may cause injury or damage. Even if the business did not manufacture the item concerned and innocently passed it on, under EEC Directive, the Consumer Protections Act etc., the last to pass on a product in a chain of supply may be held liable, and thus the business may still initially be held liable.
Business Interruption (BI) and Loss of profits
Business Interruption keeps the profit coming into a company if it can't trade due to a fire etc., particularly where a business is dependent on the building for its regular income e.g. a shop, warehouse, factory, or rented premises for property owners. If you could quickly set up somewhere else and trade and may not lose income as a result, you don't really need Business Interruption cover, but should have Increased Cost of Working (ICOW) cover. This just pays the additional costs caused by the claim, including the main one of finding somewhere else and paying for it (lease and rents will carry on even if a fire has destroyed the building and you still have got to pay for somewhere else as well). There may be additional costs for getting extra staff, phones, etc. The Insured period is usually based on 12 months expenses or Loss of Profit but can be based on a longer period, if for example, the damaged building is listed or may for various other reasons take a lot longer and more money to repair / rebuild.
Tenants Improvements to the buildings
I.e. to cover those alterations that you may make, but which, in the event of serious damage to the building, the landlord would not be responsible for repairing.
If you are renting premises you may wish to improve or add to the property, for example, changing floor coverings, redecorating etc. Depending upon the rental contract, any changes or improvements you make to the property or room may be your responsibility to insure. In this situation, if something were to happen to the building i.e. a fire or flood, the landlord would only be responsible for returning the building to the condition it was in when you rented it from them. They would not be responsible for the changes you have made.
Cover the potential losses to your property that might occur due to terrorist activities, defined as Acts of persons acting on behalf of, or in connection with, any organisation which carries out
activities directed towards the overthrowing or influencing, by force or violence, of Her Majesty’s
government in the United Kingdom or any other government de jure or de facto.
Optional Additional Cover – available with both policies
£250,000 Commercial Legal Expenses - covers legal costs and awards in the event of claims being brought by employees and others related to legal issues.
Any Business can incur expenses and be vulnerable under the bewildering amount of laws governing the operation of a Business. This legal expenses policy offers a wide range of support, information and cover for a range of legally related issues that can arise in the day to day running of your business.
- £250,000 legal costs including solicitors’ and barristers’ fees, court costs, expenses for expert witnesses, attendance expenses and accountants’ fees. It will also pay the costs of appealing or defending an appeal.
- £1m Employment compensation and employment disputes cover.
- Pre-Disciplinary and Disciplinary Hearings Cover.
- Contracts Disputes Cover.
- Property Protection and Personal Injury.
- Taxation Protection.
- Help lines for – legal advice, taxation advice, counselling services, employment manual and disputes law.
In all areas, cover applies as per the standard Terms and Conditions of the policy, please contact us for details.
Other policies services which may be useful:
Balens have a range of additional policies that you may wish to consider as part of your insurance portfolio.
- Charities and Not-for-Profit Organisations - Are you a community Band or similar? Do you have volunteers or Trustees? Balens have a range of options to meet the insurance requirements for this business sector.
- Clinic / Salon Policy – As your business grows you may need to cover the business and business name for the work, treatments and / or advice of more than one person. Balens offer two options of cover designed to cater for this need, Contingent Cover and a Full Clinic Policy. The ‘Clinic’ policy can cover work performed by other qualified professionals, whether employed or self-employed that work under your corporate name. Please also see our Article – Do you run a Multi Profession Clinic?
- Cyber / Crime Insurance – Your business may be at risk if you use any form of internet-based technology within your business or for the storage of data. Cyber / Crime insurance is designed to protect businesses and individual users from these risks, including such elements as theft of funds, loss of data, online fraud, transmission of a virus.
- Directors and Officers Insurance – Offers financial protection for Directors, Officers or Partners of a company who require cover for personal liability, for errors or omissions they may make in the performance of their professional duties.
- Marine cargo and Transit cover – As a business involved with the manufacture, sale and / or distribution of Products or goods you may wish to insure the items whilst being shipped or transported worldwide or around the UK. Please contact us for further information.
- Personal Accident and / or Sickness policies – This cover may be of particular importance for those that are self-employed and have no alternative income. Balens have devised and arranged a policy designed to pay out either a lump sum or a weekly benefit (if selected) in the event of an accident, bodily injury to you and /or illness depending upon the type of policy chosen. Please also see our Article – Personal Accident and Sickness Cover.
- Products Recall – If a product is defective and needs to be recalled you may need to cover costs to notify the customer, arrange transportation costs or even disposal costs. Please contact us for further information.
- Training School Insurance – If you hold a Professional teaching qualification and are a qualified Health, Wellbeing, Fitness or Beauty Practitioner who wants to train and certify others, Balens offer a Teaching School Insurance for an unlimited number of students.
If you are looking to offer training which issues certificates of attendance only, this is automatically included in our Balens Professional Indemnity policy with no limits and for no additional premium. If you are issuing certificates of competence, a Training School extension can be added to your Professional Liability policy for an additional premium (limits apply). Please also see our Article – Do You Treat & Teach or Do You Need A Training School Policy?
- Household Insurance – Please contact us to find out more about how we can assist you with protecting your buildings, contents and / or personal possessions. Also see our Article – Home Insurance for more information.