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Insurances for SMEs: Why Do You Need it?

Insurance coverage for SMEs is often put on the back burner, as most owners view it as an unnecessary expense, and those that view it as important, often see it as a luxury and not a necessity.

However, insurance coverage for SMEs is a necessary investment. While no one predicts a fire outbreak or a robbery, these are some events that might happen. Choosing the right safety measures from installing CCTV cameras to having a contingency plan in the event of unforeseen circumstances can help save your SME in the long run. A Continental insurance policyholder can reap benefits from the right policy.

Your basic policy should cover losses from fires, burglaries and natural disasters. However special coverage like liability from third parties, corporate medical insurance for your employees, business interruption insurance and more.

3 Benefits of Insurance for SMEs

1. Peace of mind

When you're focusing so much time, energy and money on your SME, the last thing you'd want to do is stress about covering the repair costs from damages caused by fires, robberies or natural disasters. Investing in an insurance policy provides you, the business owner, with peace of mind, that in the unlikely event of any unforeseen circumstance, your business will stay afloat.

2. Credibility

Investing in an insurance policy that safeguards your SME helps provide credibility to financial institutions like banks. When loan providers are aware of your business' insurance status, they are more likely to provide financial loans to help your SME due to the credibility and guarantee, that the loan will always be covered.

3. Cover your equipment

You've already invested large sums of your money in setting up your SME, from employing the best talent to buying the right machinery to do the job. Getting the right coverage so that in the unlikely event of a natural disaster, or fire, repairs or replacement costs can be covered under the insurance. If you didn't have insurance, you'd have to bear the burden yourself, which would make your SME go under, if you weren't financially prepared for it.

Insurance Products for SMEs with Continental Insurance

Our Fire Insurance policy offers you the benefits of reconstruction, replacement or repair of damaged property cause by an unexpected or natural fire.

Our Professional Liability Insurance secures your business from unforeseen lawsuits and liability claims. Get in touch with our team to learn about our policies on Public Liability, Products Liability, Professional Indemnity and Directors & Officer's Insurance.

Protect your employees with our Workman Compensation Insurance which covers disability benefits for workers, medical emergency expenses, health care covers and more.

Got a fleet of vehicles to safeguard? Ensure a peace of mind as a business owner while your vehicles are on the move with our Motor Insurance policy.

Need to get a commercial business insurance? Get in touch with us at Continental Insurance and our team will help you pick out exactly what you need based on your business. Call us on +94 11 5200 200 for more.