Business Protection

The need for Business insurance. Owning a business can be a very rewarding experience. But what happens if a business owner dies or falls serious ill? Much will depend on the type of business - sole trader, partnership or limited company; but unless there has been some advance planning, the chances are that what remains may end up in the wrong hands. 

So if you are a business owner, business insurance is important - it is simply the process of planning for what you want to happen if you or your co-owner (if you have one) die or fall seriously ill. What happens when a business owner dies? What happens when a business owner dies depends on the type of business: 

* A sole trader business automatically comes to an end. The business may still have a value - stock, buildings, or assets such as equipment and vehicles and goodwill, but the business itself will legally cease. 

* A partnership may come to an end if the partnership agreement does not set out that the business should continue. 

* A limited company continues but the shares held by the business owner will pass on to beneficiaries through the estate. 

For protection insurance we offer products from a limited panel of providers.