Compare Business Insurance Quotes From Leading UK Providers With One Short Form.
Save up to £435 when you compare quotesArrange business insurance cover in minutesQuotes from up to 30 UK insurance providers
Submit details about your business via our short form
Compare prices to find a suitable business insurance policy
Purchase your business insurance directly through our partners
Business insurance covers you financially from potential risks and cases where something goes wrong with your business. Your insurance policy can help cover the cost of employee injury or property damage, compensation costs and legal fees. Business insurance cover can be invaluable in the event of an unforeseen event, such as a flood or fire.
You can get general business insurance or tailored commercial insurance policies. The right cover insurance can protect your livelihood, whether you’re a small business or you have a large team of employees.
Business insurance typically covers many insurable events or items. If you need business insurance, you can choose the appropriate cover needed to protect your business. When you buy your premium, your business insurance policy can cover:
Businesses need employers liability insurance as it is a legal requirement for any business with one or more employees (who aren’t immediate family members). Employers liability insurance ensures that, in the event of illness or injury, staff can be compensated via the business insurance policy.
Professional indemnity insurance and public liability insurance aren’t legal requirements. However, these types of business insurance policies are a good business decision. Some clients will only work with you if you have proper coverage, especially public liability insurance. Regulators and professional bodies will often require or advise that you get business insurance before you can become a member or licensed.
You can add insurance elements to your business insurance policy. Here are some of the most common types of add-ons:
The level of insurance, or how much you’re covered for, depends on the nature and size of your business. Even a sole trader working from home who is providing, financial advice carries the risk of significant losses.
It’s important to ensure you’re covered for everyday risks, such as breakages and being sued, which could lead to extensive legal expenses. Some professional bodies or regulators might set out a minimum level of business insurance coverage that they expect you to have.
We believe business insurance is absolutely worth it. Like all insurance products, you don’t need business insurance until you do.
It’s tempting to think bad things won’t happen. But it’s worth considering if you could afford to cover the legal expenses when being sued or rebuilding your premises or replacing essential tools.
Having the right business insurance gives you the peace of mind that if the day comes when the worst happens, you’ll be covered. This is especially important in certain sectors, like logistics and removals, where there is high liability. Having the right insurance reassures your clients that if accidents occur, they can trust you to put it right.
Ready to start comparing business insurance costs? Find prices and compare the cheap business insurance quotes in minutes with Quote Goat.
There are three main types of business insurance available. The different types of business insurance can all work together or individually. You can specify what you need and leave out what you don’t.
Public Liability Insurance
This type of insurance offers financial protection in the event your business injures a member of the public or damages their property. This includes your clients and their property. This may lead to some customers or clients insisting on public liability before they work with you. Public liability insurance also covers injury and damage accidentally caused by one of your employees, but only if you have employers’ liability insurance.
Employer's Liability Insurance
Employer's liability insurance is a legal requirement if you employ one or more members of staff outside of your immediate family. Employer's liability cover can help financially with the cost of compensation claims if your employees get ill or injured in the workplace. You’ll need to get employers’ liability insurance of at least £5 million, even if your members of staff are temporary or contractors. Without this insurance, you can be fined £2,500 every day you’re not insured.
Professional Indemnity Insurance
Solicitors, accountants, architects and other business owners are required by regulators or professional bodies to have this type of insurance. Professional indemnity insurance covers you against financial or reputational loss. This may occur if your client takes legal action against you if your advice results in financial loss, or if your work causes damage or harm to others. Compensation claims can even be brought against you if you’ve offered a service or advice for free.
When you get business insurance, you can tailor an insurance policy to meet your requirements. There’s no one size fits all, so you don’t pay for elements of cover that you’ll never need.
Here are a few ways to help reduce the cost of your premium:
1
The higher the sum you need to insure, the more your policy premium will be. It’s worth working out what is the right insurance cover for you, rather than just going for a standard policy. To protect your business from significant financial loss, ensure you’re only paying for insurance that covers claims specific to your business activities. You should remove benefits that you don’t need or change those to benefits you will need.
2
As with most insurance providers, you can specify how much you’d be willing to pay in the event of making a standard compensation claim. This is called your excess – there’s generally a compulsory and a voluntary excess. The lower your excess, the pricier the premium, so if you can afford to pay more in the event of a claim, the cost of your business insurance premium will come down. It’s important to make sure your excess is affordable for you. If you can’t pay the excess, insurance providers won’t hold up their end of the claim either.
3
Insurance is all about risk, so taking action now to lower your risk profile can really help to reduce your business insurance cost. You can install CCTV and alarms on your business premises and implement risk assessment protocols. Additionally, you can give health and safety training to employees, do quality control procedures and complete professional accreditations.
4
Whether you’re buying for the first time or your premium is up for renewal, don’t settle for the first price you get offered. Always review and compare business insurance quotes online or telephonically to get the best price. Our comparison tool makes it easy to find a great quote for business insurance. If you’re feeling stuck, give us a call. We’d be delighted to help with your business insurance comparison.
Everything was clear and the site was easy to navigate.
Very good and excellent service. Thank you very much indeed, once again thank you.
A excellent service and was very easy to sort out.
If you own a very small business, such as a one-person enterprise, then it’s not a legal requirement. Only business owners with employees legally need insurance (employer’s liability).
However, corporate or small business insurance is a really good investment. If you give advice, provide a service, or handle client data, you could be sued for negligence or a simple mistake. If you work on clients’ properties or premises, you might accidentally break or damage something or hurt someone.
It’s best to speak to insurance experts to ensure your small business is covered from public liability claims prominent in your industry. Plus, if you’re self-employed, you can put your small business insurance on your tax return as an expense.
It’s likely you’ll need business car insurance if you use your car or van to drive between home and client properties or for any other journey concerning your business that isn’t a commute. However, this can usually be added onto your standard car insurance policy without costing too much.
You can usually call your insurance provider and amend your policy or select that you use your vehicle for social, domestic & pleasure (SD&P), as well as business use when getting a new business insurance quote online. If you have a vehicle that’s primarily used for business, i.e. a builder’s van or a taxi, you’ll need to get commercial vehicle insurance or fleet insurance.
