Do I Insure My Company or Myself?

//Do I Insure My Company or Myself?
Company Insurance

Do I Insure My Company or Myself?

When you’re insuring your business, whether its public liability insurance, professional indemnity insurance or a business pack insurance policies, should you insure it in the business name or your own name? Especially when that business is the trustee for your family trust.

According to Steve Sloan, a broker with Insure 247 “the general rule would be to insure the entity that invoices the client, in most cases the insurer will be more interested in your occupation and the risk than the entity, i.e. the premium doesn’t change for a sole trader compared to a Pty Ltd company.”

“In the case of professional indemnity insurance, the cover should include the names of directors, employees or contractors that offer the advice.”

“In the event that the company owns subsidiaries the subsidiary should also maintain it’s own cover, however in some cases, insurers may offer cover for both.”

If you are unsure please discuss it with of our team on 1300 046 787

 

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Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation, and needs. Please read the Product Disclosure Statement and contact us if you require any clarification

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Helping Australians with Insurance Quotes since 2002. Quotesonline is operated buy Insure 247, we are based on the Gold Coast in Australia Since 2002 we have assisted over 1 million Australians with their insurance requests

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