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How to protect your legacy with protection from Caleb Roberts

Updated: Apr 11

What is a legacy?

Typically, a legacy refers to what is passed on or left behind after we go. A legacy could refer to something of monetary value, like your assets, but it could also mean your reputation. Legacies can help inspire and set an example for future generations.


In business terms, creating a legacy means building a lasting company or brand which stands the test of time, even after you’ve left.


Protecting your legacy

If leaving behind a legacy is important to you, then having the proper protection in place is vital. Insurance helps you keep your business safe when things go wrong and can be the difference between your company surviving after a claim and folding.


There are a number of different factors to consider when it comes to protecting your business and its legacy.


  1. Have the correct sums insured Whether your business operates out of a factory, shop, farm, or your own home, having the correct sums insured on your building insurance is very important.   In November 2023, stated that the gap between the amount buildings are insured for and the property rebuilding costs is continuing to widen.[1] Currently, it's estimated that nine out of 10 buildings in the UK are insured for the incorrect sum, with 81% being underinsured and 14% being overinsured.[2] If you fall into the underinsured category it should be noted that should you ever make a claim, the insurer will only pay out a portion of the actual value, leaving you out of pocket.   To protect your legacy, you should regularly get your building valued to ensure you have correct figures which account for inflation, the cost-of-living crisis, and supply and demand shortages.  

  2. Protecting your assets for your future generations In addition to protecting the home of your business, you should also protect your assets. These could be tangible things, like computers, stocks and cash, or intangible things, like your company’s reputation and brand identity.   As previously discussed, your reputation and your brand are key components in building a legacy. While you cannot insure your reputation or brand, you can insure the physical items without which your business would be unable to operate, and in turn protect the livelihood of your company.  

  3. Prepare for interruption If you were to find yourself in a situation where your business was unable to operate as usual, you can lean on business interruption insurance to cover you for any loss of income.   For example, rebuilding your premises after suffering a total loss, business interruption insurance would allow your business to get back on its feet with the least disruption possible.    

  4. Be poised for cyber threats Cyber criminals are one of the biggest threats facing businesses today. Despite many businesses mistakenly believing their company is too small to be a target, research shows that 96% of all cyber-attacks are directed at SMEs.[3] Cyber insurance exists to help protect your business from potential cyber threats.     Whether it be ensuring you have the correct sums insured, the most suitable cover for your buildings or assets, or helping you be poised for the unexpected, at Caleb Roberts we are here to help you protect your legacy for future generations to come.



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