BAPIA: Do you need insurance?

It might seem boring, but BAPIA chairman John Bowler recently took the opportunity to talk about of life’s more mundane essentials – insurance.

“While I am writing this article, I am questioning myself, as I can’t believe that I am actually writing about a topic that many people might consider to be the most boring subject on the planet. Yes, I am talking about insurance!

All BAPIA members receive Liability Insurance cover as part of their membership, but we are often asked other questions so I thought I would answer those questions today.”

Do I need insurance?

“The only Insurance cover that you are legally obliged to have as a business is Employers Liability Insurance if you have any employees. This type of insurance would cover you against claims made against you by an employee, should they be injured at work (subject to policy conditions.)

Although not a legal requirement, it may be part of a tenancy agreement for a business premises that you have Buildings Insurance but this is very often arranged by the landlord. It is also becoming more usual for a venue and/or client to request a copy of your Public & Products Liability Insurance.”

Does Liability Insurance cover include loss or damage to equipment?

“Unfortunately, not. If you want cover for your equipment, products, and stock, you will need Business Insurance. This is a new service we have arranged for BAPIA members at a greatly discounted rate. This type of insurance will protect you against damage to (or theft of) your equipment and can also cover you for business interruption.

The cover that BAPIA has arranged with the insurers is exclusive to members and has been designed specifically for the balloon and party industry to include an automatic 30% stock increase from October to the end of December to cover increased stock levels during the Halloween, Christmas and New Year periods.”

Please note that BAPIA does not make any financial gain from its Business Insurance.If you would like to know more please contact info@bapiaonline.com

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