SMEs, This All-In-One Insurance Is ALL You Need

Did you know there's an all-in-one insurance specially designed for SME businesses in Singapore? Yes, they're called Business Insurance Packages and they are comprehensive!

They provide common coverage that SMEs in Singapore usually would need: theft, fire, water damage, theft, business interruption, money, public liability, and a lot more. They also protect many business forms — retail stores, F&B outlets, service stores, clinics, offices, warehouses, and factories.

An SME Business Insurance package deal bundles together the major types of coverage businesses will need, including:

• Commercial Property Insurance (also known as “Industrial All Risks” Insurance)

• Business Interruption Insurance

• Public Liability Insurance

• Work Injury Compensation Insurance

With the coverage as above, you will be well-protected against many large risks business owners face. It is recommended to combine your package with some other core policies in order to ensure maximum protection, such as Cyber Insurance, Professional Indemnity Insurance, and Directors Liability Insurance.

This type of insurance covers almost all business types, including (but not limited to):

• Professional Services: Accountants, Consultants, Lawyers, PR/Marketing, Architects, Logistics, Engineers, etc.

• Personal Services: Spas, Salons, Gyms, Massage therapists, etc.

• Construction: Construction contractors, Electricians, Construction supplies, other construction-related services, etc.

• IT Services: Web developers, Networking, Cybersecurity, etc.

• Financial Services: Real estate agencies/brokers, Financial advisors, Hedge funds, etc.

• Education: Tuition centres, Childcare centres, etc.

• Wholesalers: Consumer goods, Industrial goods, Chemical goods, Agricultural goods, etc.

• Healthcare: Western clinics, TCM clinics, Chiropractors, etc.

• Retail: Clothing, Consumer goods, Health supplements, etc.

• Food & Beverage: Restaurants, Cafes, Pubs/Bars, Catering firms, Food court stalls, Hawker stalls, Food kiosks, etc.

• Manufacturing: Industrial, Electronics, Chemicals, Agricultural, etc.

• Warehousing: Commercial storage firms

• Non-Profits: Charities, NGOs, etc.

A Business Package Insurance is very beneficial for:

• SME owners looking for a convenient, cost-effective method to achieve broad protection against common business risks in Singapore

• Companies with less than $25 million in annual revenue, and fewer than 25 employees

How much Business Insurance do I need? The appropriate business insurance coverage amount for you and your business is based on several key factors:

• Number of employees

• Turnover amount

• Industry

Get in touch with us today to start crafting your own policy!