Its hard to find an insurance company that caters to your needs and your pocket. That’s why Review spoke to an insurance broker in the city, Johannes Manamela, about what to take into account when choosing an insurance company.

He said the most important thing is to know what type of insurance your business needs and then finding a reputable company to look at your needs and means to get you the best deal and cover at the best price. Manamela added choosing to insure a business means there is a need for several basic types of insurance which can make or break a company.

These include:

• General liability insurance: Every business, even if home-based, needs to have liability insurance.

• Property insurance: If you own your building or have business personal property, including office equipment, computers, inventory or tools you should consider purchasing a policy that will protect you in the case of a fire, vandalism, theft, and smoke damage among other factors.

• Business owner policy (BOP): These packages all have coverage a business owner would need. Often, BOP’s will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance.

• Commercial auto insurance: Commercial auto insurance protects a company’s vehicles.

• Worker’s compensation: Worker’s compensation provides insurance to employees who are injured on the job.

By Riana Joubert

See full story at reviewonline.co.za