Short Term Business

Innov8ions as business owners understand that your livelihood could be at stake when insuring your business and you don't want to take chances. You want to know that you're absolutely covered, no matter whether it is for a piece of machinery, hardware, vehicles, contents, or whatever keeps the wheels of your business turning. We believe in treating our customers seriously and therefore make an appointment to meet with you personally to establish your business needs.

Standard business insurance solution provides cover for:

Fire Section:

Covers for damage to your building/s, loss of rent, damage of contents, loss of stock, or any miscellaneous items added to the policy, as a result of: Fire, lightning, explosion, and/or earthquake.
Malicious or intentional damage and/ or damage from break-in or theft.
Burst water pipes.
Storms and floods.
Animals, vehicles and falling trees (but not while they are being felled).
Subsidence (sinking) of land and landslips.

Walls, retaining walls, gates and gate motors are also covered.

Business Interruption:

As a result of a fire section claim, reduced turnover or additional expenses may occur, which may cause serious business interruption that you did not plan for. Cover is provided for loss of insured gross profits; gross rentals; gross revenue; additional increase in cost of working.

Theft:

This cover insures your business contents against loss or damage after forcible and violent entry or exit into your building.

Note: Theft of office contents is covered under the Office Contents section.

Money:

Should you keep money on your premises cover can be provided to safe guard you for loss of/or damage to money on your premises or while in transit to and from the bank.

Glass:

Cover is provided for Accidental breakage of glass. Under this section all external and internal glass and building signage must be covered.

Goods in Transit:

If your goods are damaged or stolen while being transported, this section of the commercial policy will cover you for this risk. Cover includes: Comprehensive cover; Limited cover (damage following a fire, collision or vehicle overturning); Limited cover that includes theft and hijackings.

Business All Risks:

The Business all risks section provides comprehensive cover for loss or damage to equipment at your premises or while it is off your premises. (e.g. a Mechanic who would work off site and take his diagnostic machine in order to complete the job.)

Accidental Damage:

You can’t think of everything that can have an impact on your business, and sometimes extraordinary events occur that are not insured anywhere else on a policy (e.g. fork lifter driver accidently drives into stacked pallets and knocks them over). Accidental damage provides cover for these circumstances as long as it is not insured under another section of your policy.

Fidelity Insurance (Theft by employees):

Though you take care in appointing a qualified and ethical workforce, theft by your employees is still an unfortunate possibility. If insured under this section you will be compensated for financial loss to your company due to theft (money or stock) by your employees.

Public Liability Insurance:

Covers you in the event that you or one of your employees causes damage to someone else's property or causes the death or injury of someone. It also covers defending you against a third-party claim, if you are found legally liable the damages awarded. Third-party legal costs are also covered.

Types of liability cover:

General and Tenants protects against claims by the public for injuries or damage to third parties and/ or their property sustained on the premises.
Employers liability releases the responsibility of the employer from the injury or damage done to an employee or their assets as a result of negligence on the part of the business.
Product liability protects businesses from damages caused by goods to customers and/ or third parties, also from products arriving in a damaged state, and wrong delivery.
Defective workmanship liability protects businesses from damage or injury to the public resulting from poor workmanship after hand over.
Contractors liability provides protection against damages and injuries to third parties resulting from construction and maintenance work.
Professional indemnity protects professionals from loss, injury and/ or damage to third parties due to incorrect advice or treatment.

Personal accident cover (Individuals & employees):

Should you or an employee, whether working or otherwise, be injured accidentally, this section will provide cover as stated in your policy schedule. This can either be on a stated benefit basis (i.e. related to annual salary of employees, or a fixed amount).

Motor Vehicle Insurance:

Cover for any car, light delivery vehicle, trailer, caravan or motor cycle.

There are three types of car insurances - Comprehensive, 3rd Party Fire & Theft, 3rd Party Only.

Comprehensive Motor Vehicle Insurance: Is an all-inclusive, all-risk type insurance that will cover your vehicle should it be stolen or damaged as well as damages caused to a third party.
3rd Party Fire & Theft: Will protect your vehicle against theft, fire-related damages, and damages you have caused to another person’s vehicle, not damage to your vehicle.
3rd Party Only: Will protect your financial well-being, as it will cover expenses, costs, damages you have caused to another person's vehicle or property during an accident.

Note: Vehicle hire, credit short fall, tyre and rim cover, scratch and dent cover can be added at an additional premium

Electronic Equipment:

Cover for the replacement or repair of sudden and unforeseen physical loss to your hardware such as computers, printers etc.

Note: You can extend this cover to include for the reinstatement of your data and compatibility cover.

Machinery Breakdown:

Machinery is covered under the Fire and Theft section. However, you may incur accidental damage to your equipment. Machinery Breakdown is accidental insurance for machines, internal breakdown or derangement. Machines have a limited life span as they are exposed to wear and tear: therefore, machinery owners must depreciate their machines annually and establish reserves for replacement.

Business interruption (following Machinery breakdown):

The breakdown of your plant or machinery will have a negative impact on the running of your business. This section covers for reduction in turnover and increased working following a machinery

breakdown/loss (if insured in terms of the Machinery breakdown section).

Cyber Insurance

Cyber Insurance offers protection for cybercrime, privacy and media risks faced by companies during day to day operations. Every company that stores client or employee personal information should have cyber insurance in place to protect against financial losses, as a result of any criminal activity involving a computer or network, such as the unauthorised access to, interference with, fraud and forgery of data. Providing first and third party cover for the consequential damages of a network or security breach. An example of a cyber claim would be if a hacker or employee steals customer information and threatens to post it publicly or sell it in exchange for money.