PROTECT YOUR BUSINESS

Starting a small business in South Africa can be both exciting and daunting. The SME sector is thriving, but it is also rife with risks such as theft, load-shedding, rising inflation, extreme weather events and liability claims. As a business owner, it is crucial to protect your venture with comprehensive business insurance.

THERE ARE SEVERAL TYPES OF COMMERCIAL INSURANCE POLICIES THAT SMEs CAN CONSIDER, INCLUDING:

• Property insurance protects your business property against damage or loss caused by specific perils such as natural disasters, fire, storms, theft or accidents.

• Business interruption insurance covers potential loss of income and increased expenses when your operations are interrupted due to specified unexpected events.

• Liability insurance protects your business against third-party claims for damage, injury or negligence, where you are found to be legally liable.

• Cyber insurance covers losses due to cyberattacks, including data breaches and business interruption.

• Employee insurance covers work-related injuries, illnesses and accidents, as well as employment practices liability.

• Professional indemnity insurance covers liability claims related to professional advice or services.

Choosing the right type of business insurance depends on your industry, business operations and risk exposure. An experienced insurance broker can help you assess your risks and recommend the best coverage for your business.

Santam’s deep understanding of the South African business landscape informs its range of business insurance policies tailored to SMEs’ needs.