When starting a new company or commercial venture, business insurance can be a source of confusion. There are various types available, and it is imperative that you obtain the most appropriate type in order to fully protect your company.
Getting the right type of business insurance at a good price can be a hurdle in itself, but what if you have a previous bankruptcy, IVA or criminal conviction to your name? In cases such as these, obtaining business insurance can suddenly become very difficult indeed, and it may seem that your attempts to make a new start in your life are hindered whichever way you turn.
If this sounds familiar, you are not alone. There are over 8 million ex-offenders and ex-bankrupts within the UK who are experiencing difficulty in obtaining basic insurance policies because of a prior bankruptcy or an existing criminal record. Unfortunately, many insurance companies refuse to provide cover once criminal records, convictions or bankruptcies are disclosed. It is therefore understandably tempting for applicants to fail to disclose these facts when applying for business insurance. However, this will result in your insurance policy becoming void, leaving you open to extreme financial damage in the unfortunate event of a claim against your business.
So what course of action can ex-offenders and ex-bankrupts take to ensure they are treated fairly and are eligible to receive the necessary insurance policies essential to making a fresh start?
Specialist insurance providers may hold the key.
Companies and brokers offering specialist insurance understand the problems faced by people with a previous conviction or bankruptcy. They are dedicated to finding competitive business insurance quotes, even upon disclosure of your criminal record or financial history. This will ensure that your business is paid in the event of a claim. There are many different types of business insurance available such as public liability insurance, professional indemnity insurance, employers liability insurance and product liability insurance, to name a few. Don’t worry if you are unsure as to which type of business insurance your company needs. Your chosen specialist insurance company will be able to advise you and make sure you choose the most suitable cover for your line of business and get the best deal possible.
With a past conviction or bankruptcy, starting afresh may feel like a daunting task, especially if you have spent some time in prison. Knowing where or who to turn to in order to get the help you need can make all the difference and can give you the confidence you need to pick yourself up and get on with your life.
Remember, your past does not have to be a guide for your future.
Sale Insurance Services (SIS) are specialist insurance brokers, dedicated to providing competitive insurance quotes to people with criminal convictions and previous bankruptcies. SIS provide an honest and open service, the company’s mission being to aid those who are being unfairly denied basic financial services, simply because of their past. SIS offer many types of insurance, including car, home and business insurance.
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