Additional insurance covers – prepare for the unexpected

Most of us are aware of common types of insurance covers. Think about insurance, and you’ll probably consider Buildings and Contents, Public Liability and Employers’ Liability.

Whilst highly important, these policies won’t cover you for every eventuality. Other risks may seem less likely, yet the impact on your business could be catastrophic without any additional insurance covers.

It is essential to source a reputable online provider such as Quote Leader Insurance to get the best policies for the type of cover you need while also keeping your costs low.

additional insurance covers businessLet’s take a look at some key additional covers you should consider…


A terror attack can impact any business at any time. You don’t necessarily need to be the target of an attack to be significantly affected. Terror Insurance will cover your business for physical damage, but you can also arrange cover for business interruption or loss of attraction should a terror attack happen near your site.


Cyber attacks and cyber crime can cause vast amount of damage for businesses. Business disruption, reputational damage, ransom negotiation, privacy breach costs and fraudulent payments could all throw your business into chaos. Your business may suffer a cyber attack, data breach or social engineering. There’s no way to predict when this might happen, or how to prevent it. Strong cyber security measures can mitigate risk but won’t eliminate it. That’s why it’s a good idea to have cyber insurance in place – to make sure your business can stay afloat if an attack does occur.

Excess of loss

Let’s say, for example, your insurer is not able to fully insure the whole of your risk. Yet you still need a higher limit of indemnity. Excess of Loss acts as a top-up on your Liability policies, boosting your indemnity limit to the required amount.

Directors’ and Officers’ Liability

Did you know your Directors, Partners or Officers could be personally sued while managing the company? Senior leaders can be found liable for breach of duty of trust, negligence, defamation and much more. Furthermore, without insurance, they are also personally liable for the financial costs of legal fees, fines or compensation. In order to protect personal assets, business leaders should consider Directors’ and Officers’ Liability.

Loss recovery

Insurance claims can be costly, particularly if you don’t handle them efficiently and effectively. Loss recovery insurance gives you access to a Loss Adjuster. They’ll support you through the claims process, negotiating with insurers on your behalf to make sure you get the best possible settlement for your claim.

Environmental liability

If your business’s activities cause environmental or pollution-related damage, you’re required to pay for these repairs. But they can be costly! An insurance policy will help to make sure you aren’t left footing the bill.

Whilst one would hope these risks won’t impact your business, it’s important not to be complacent. Claims can run into their thousands, if not hundreds of thousands. Could your business keep afloat if you had to spend serious cash defending a claim or paying compensation? Insurance isn’t just there to pay out a lump sum to solve a claim or dispute. It’s there to make sure you have the financial resources to rebuild and recover.

Ultimately, insurance covers are a fantastic way to future-proof your business. Most of us appreciate that it’s well worth purchasing Liability covers, in case an unavoidable accident or incident happens. Businesses should also consider perhaps less known risks, such as the possibility of a cyber attack.

Risks are constantly changing, and the insurance market adapts and evolves to reflect this also. Whilst you should always put strong risk management structures in place to mitigate potential risks, sometimes the unavoidable does happen.

That’s where insurance comes in. Strengthen your policy by considering additional insurance covers, making sure your business is thoroughly protected whatever life throws at you.