The covers most businesses need
| Cover | Protects |
|---|---|
| Fire insurance with flood (special perils) | Building, renovation, machinery and stock |
| Business interruption (consequential loss) | Lost profit and fixed costs while you rebuild |
| Burglary | Stock and equipment stolen with forcible entry |
| Public liability | Your legal liability if a customer or member of the public is injured or their property damaged |
| Machinery breakdown | Sudden mechanical or electrical breakdown of machines |
| Goods in transit | Goods while being transported |
| Group medical and group term life | Your staff, beyond PERKESO |
| Keyman insurance | The business, if a key person dies or falls critically ill |
A real lesson from a Klang factory
A long-time client of Lulu’s runs a hardware factory in Klang. When the factory had an incident one year, he discovered he only had the fire policy the bank required; his stock and lost business weren’t covered. Since then Lulu does a full risk check for every factory and shop she looks after.
What Lulu checks for your business
- Sums insured based on rebuilding cost, machinery replacement and peak stock, to avoid the average clause.
- Whether flood is covered, especially in flood-prone areas such as Klang and Bukit Raja.
- How long you could survive a shutdown, and whether business interruption is needed.
- Your contracts: many government and corporate jobs require public liability or contractor’s all risk cover.
- Your staff: PERKESO and SPIKPA for foreign workers are legal requirements; group cover is a benefit.