Keyman Insurance is the most overlooked of all business insurances especially for small businesses where the need is greatest. This article argues that businessmen should insure the risks.

Memo to myself - Get Keyman Insurance

Author: Michael Challiner


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Last week I had to drive down to London. I dont like driving at the best of times but the rain, spray and heavy traffic on the M1 made conditions difficult. Radio 2 kept me company and the heater kept me warm. Then I hit that queue - six miles solid and I was soon an hour behind schedule. (car insurance)


 

They were still clearing up the accident when I got there. It was nasty. A lorry and what was left of two cars. Made me think, after all that could have been me. Yep, my (mortgages) life insurance is up to date and my Will was renewed only last month. The family would be well cared for and the mortgage repaid. Had I missed anything?

life (cheap car insurance)

The business. What would happen to that? We have two directors, 7 employees, an overdraft and lots of insurance. Public Liability, professional indemnity, ( car insurance quotes ) vehicles and stock are all insured. We even have legal protection insurance. Had I missed anything? I got to thinking.

Thank goodness it wasnt George in that accident. A great guy and hes been with us five years. Hes our top salesman. There again what if it had been my co-director ( life insurance advisers ) who also owns 50% of the business? What would be the repercussions on the business? (car insurance quotes)

Sales down, profits down, bank phoning all too politely to ask about the ( car insurance cover ) Directors guarantee on the overdraft. Then Id have to try and buy his shares. I wouldnt want someone else to get hold of those. At some stage Id have to recruit someone of his calibre to continue the company going forward - that wouldnt be easy! And recruiting top people doesnt come cheap. Thats more time and more money. The personal problems .. the repercussions .... the extra work ... the extra stress ....

Oh heck, I dont want to think about it all. Quickly, switch over to Radio 1 .


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