Frequently Asked Questions

Who is ibizcover.com?
ibizcover.com is a digital insurance platform for SMEs. We provide impartial information on business insurance to help SMEs understand the different types of insurance product, importance and value of obtaining the right insurance to protect their businesses.

How does ibizcover.com work?
Step 1: Sign up with ibizcover.com. We only ask what is necessary.
Step 2: Get free quotes from multiple insurance carriers
Step 2+: Fill out online forms and submit documents (if necessary). Some of the insurance products required additional information and documentation.

Does it cost anything to use ibizcover.com?
No. You can use ibizcover.com for free to search, learn and get quotes on insurance for your business.

What is general insurance?
Business insurance is a form of protection against costly damages and legal claims caused by property damage, theft, third-party injuries, lawsuits, accidents, loss of business income, employee injuries and other covered losses.

Why is business insurance important for SMEs?
Depending on your industry, your business will be exposed to specific risks. It is particularly important for SMEs because to manage these risks with fewer or no resources will be hard, costly and damaging. It is not just simply having the right insurance but also adequate coverage.

Small business owners like yourself must carefully consider and evaluate your business insurance needs because you may have more personal financial exposure in the event of a loss. You could lose everything.

Do I need business insurance as soon as I start my business?
Simply put, yes! You have committed your time, effort and money to starting your business. Knowing that there are risks, it is vital to take necessary precautions to protect your business. Without business insurance, you may have to pay out-of-pocket for costly damages and legal claims. Businesses can either buy multiple coverages or a packaged insurance which combine several in one policy.

Do different business require different insurance coverage?
Yes. Generally coverage is based on your risk exposure and the type of business you run.

How much does business insurance cost?
The cost of business insurance varies based on the specifics of your business such as type and location of business, sum insured, previous claims, the size of business and many more. You can get an accurate quote by speaking with an insurance representative and to ensure all of your needs are met.