Business insurance is really just an application of general and personal Insurance solutions, considered from the perspective of the business. Therefore, instead of considering personal assets (such as a house or car), consideration also needs to be given to business assets (such as covering a business vehicle or equipment).

Similarly, regular analysis of the business needs to be made to insure ‘assets' such as key people to the business are covered adequately. What about all those everyday expenses that keep rolling in? They won't stop simply because you or a key person has. As such, all of the personal insurances discussed are relevant to a business, just with a different potentially affected entity (the business) in mind.

It is also vital from both a business continuation and tax perspective that any insurance policies are owned by the correct ‘entities'. For example, a policy designed to provide cover to the surviving shareholders to buy shares of a deceased business partner, should never be owned by the company.