Press Release

Insurance is a requirement by law - if you employ just one person, you must have employer’s liability insurance in place. Obviously it makes business sense to have the other covers in place as you never know when a claim will occur and when it does, without the correct insurance in place, it could have devastating consequences to your business, your home life and eventually you.
What kind of insurance does a business need?
At SQUARE MILE INSURANCE SERVICES, we only use A RATED UK BASED INSURANCE COMPANIES, if you are insured with us and have declared everything, you will not have a problem with a genuine claim. Our restaurant binder is placed with AVIVA, an A rated UK company and the policy is adjusted to suit you the restaurateur and not a package, bought off the shelf. We understand your business, we understand what sums insured you need, we know what an EPOS system is and the cost of software to keep it going.
Firstly if the unrated insurer or offshore company goes bust you have no redress – you are not protected under the Financial Services Compensation Scheme – not only have you paid the premium which you won’t get back but if you have a claim, this will not be settled. You will then have to pay out for further insurance so you will have paid twice – this is obviously not a saving.
What can you do to prevent this? All of us have to be savvy business people but what looks like a saving on insurance by using an unrated insurer, an offshore company (i.e., Gibraltar, Lichtenstein etc) or misrepresenting your sums insured is a false economy. Don’t use Unrated Insurers.
In the event of a claim, if you are not insured correctly, this is a disaster, to explain properly, you might be insured for £50,000 for your contents and suffer damage of £25000. If you should have been insured for £100,000, (more realistic) you may only get £12500 i.e., 50% of the claim as you are 50% underinsured. But what is worse is that you could be investigated for fraud, as you have under declared figures to get a cheaper premium. If this happens you will have to declare this on any insurance you try to obtain the future and could result in higher premiums or that no A rated insurer would take you on or you may never be able to get insurance again. The declaration is not only for your business, but also your home and your car.
At Square Mile Insurance we help you with everything to make your life easier. We help you to decide sums insured, we assist with health and safety and fire risk assessment and perhaps more importantly, if there is a claim we will ensure that you are looked after and if need be, will attend on site to look after you.
Insure with SQUARE MILE INSURANCE and you can get on with what you do best, RUN YOUR BUSINESS
Call us today or tonight on 020 7481 4321 or email David@squaremileinsurance.com or call him on 07970 489249

Organisation Profile: