3 Essential Insurance Policies Every Business Owner Should Consider

Running a business comes with inherent risks, from unexpected disruptions to financial liabilities. Having the right insurance coverage can protect your company and ensure its long-term success. At New Vision, we help business owners in New Zealand secure comprehensive protection. Here are three essential insurance policies every business owner should consider.

1. Shareholder Cover

If you own a business with partners or co-owners, shareholder cover is essential. This policy ensures that if a shareholder passes away or becomes incapacitated, the remaining owners have the funds to buy out their shares and maintain business stability. It prevents unwanted third-party involvement and ensures continuity in business operations.

2. Key Person Cover

Your business's success often depends on key individuals. Key person insurance provides financial support if a crucial team member is unable to work due to illness, injury, or death. This coverage helps with hiring and training replacements, covering lost revenue, and ensuring the business can continue operating smoothly.

3. Debt Repayment Policies

Many businesses take on loans to fund growth and operations. Debt repayment policies ensure that outstanding business debts are covered in case of unforeseen circumstances affecting key stakeholders. This protects both the business and the personal assets of owners who may have guaranteed loans.

Protect Your Business with the Right Coverage

Every business has unique risks, and choosing the right insurance can make all the difference. At New Vision Financial Services, we offer tailored insurance solutions to help you safeguard your company’s future.

Get in touch with us today to discuss the best insurance options for your business.

Amy Callon
Financial Adviser
New Vision Financial Services

Plan your future and let us help you have peace of mind along the way.