Your business assets are essential to the functionality and future of your business and therefore as an employer you should do everything possible to protect them against unexpected circumstances.

This article will guide you through what exactly constitutes an asset, why you should protect your assets and most importantly, how you can protect your assets.


What is an asset and why you need to protect your assets?

An asset has a physical form that is tangible such as money and other valuables belonging to the company including inventory, supplies, equipment, land and buildings. While insurance does provide an amount of security it fails to shield your assets from all threats and eventualities.

Insurance policies are limited in what they do and do not cover and how much they will pay if something happens. With the downturn in the economy and the current economic climate, insurance cannot protect against economic hardships. However, insurance is not designed to protect you or your business from a downturn in the economy and if you are unable to pay your bills, it could lead to the repossession of your business assets by the creditor.

Owning and operating a small business comes with great responsibility and accountability. Even if you operate with the utmost care and provide an unrivalled service, a client may perceive your actions as wrong and ultimately bring you and your business to its knees. Knowing what risks your business may face and how to minimize the threat from loss will give you the chance to run your business successfully and guarantee its future.


How to protect your assets

  • Liability Insurance

Liability insurance protects your business against the possibility of a lawsuit or asset damages and will normally cover the damages from the lawsuit and legal fees. Depending on your business needs, a number of different liability insurance can be purchased such as, general liability insurance, professional liability insurance and product liability insurance.

One form of liability insurance you will need to have by law is employers’ liability insurance. As it is a legal requirement, it is vital that you have the correct cover as if not, you could be prosecuted. Look at AXA employers’ liability insurance to find out more information and what it protects you against.


  • Limited Liability Corporation

One method to ensuring the protection of your personal assets is by creating a Limited Liability Corporation (LLC). An LLC is the formation of a corporate structure whereby the members of the company cannot be held personally liable for the company’s debts or liabilities and therefore protecting your assets and your future.


  • Landlord Insurance

Unforeseen circumstances such as fire, floods or a lawsuit can destroy or significantly affect you and your business and reputation. Insurance is designed to compensate you from loss from an occurrence such as a fire or a lawsuit.

AXA landlord insurance is just one of the ways you can protect your building as it provides protection for your building against flooding, burst pipes, broken windows or fire damage and will protect you from being victim to major losses.


Protecting your business assets is essential to both your own personal future and the future of your company. Although you cannot prepare yourself for unanticipated circumstances, by ensuring you have correctly protected your assets, you will limit the damage caused to your business.

Make sure to find the right cover for you and your business and protect yourself against any eventuality no matter how unlikely you think it is to occur.

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