Business Insurance
Compare Insurance Quotes For Your Business From Leading UK Providers With One Short Form.
- Save up to £435 when you compare
- Arrange insurance cover in minutes
- Quotes from up to 30 UK insurance providers
Compare Insurance Quotes For Your Business From Leading UK Providers With One Short Form.
Quote Goat are specialists in insurance. We place excellent customer service at the heart of our company and as such we commit to:
We are 100% privately owned and we are committed to always promoting the provider that is best for our customer.
We are rated 4.8 out of 5 on Reviews.io and we help over 50,000 businesses a year to find the right cover
Our goal is to simplify money management, everything we do is guided by our ethos of putting our customer first.
Easy to use and quick to get my quote for insurance, saved £200 from last year as well! Would recommend.
Easy to use site, made a significant saving in comparison to other places I checked. Would highly recommend using QuoteGoat…. Will 100% use the site again!
Excellent experience. Really easy to use and would definitely recommend. My go-to comparison site from now on!
Business insurance protects you financially in case something goes wrong with your business. It can help cover the cost of damage to your property, employee-related issues, compensation claims and legal fees. It can be invaluable in the event of an unforeseen event, such as a flood, fire, or if you were to be sued by someone.
You can get general business insurance or more specific, tailored policies for your business category. You can also tailor your level of cover to protect your livelihood, whether you’re a one-person-band or you have a team of employees.
The sky’s the limit when it comes to insurable events or items for business insurance. You can specify exactly what you’d like to cover when you buy your premium, but here are some common things business insurance can cover:
Employers’ liability is a legal requirement for any business with employees (who aren’t members of the business owner’s direct family). It ensures that, in the event of illness or injury, staff can be compensated via the insurance policy. For every day you employ people without this insurance, you can be fined £2,500. It doesn’t apply to working with sub-contractors, though, it’s only if you are their employer.
Professional indemnity and public liability aren’t a legal requirement, but they are a good business decision. Some clients will only work with you if you have proper insurance, especially public liability. Often, regulators and professional bodies will also require adequate insurance before you can become a member or licensed.
If you are a member of a public body or regulator, they’ll be able to advise on whether business insurance is necessary for you.
There are lots of specific business insurance elements that you can add on to your policy, including:
The level of insurance, or how much you’re covered for, depends on the size and nature of your business. You might be a sole trader working from home, however, you might give financial advice that could result in big losses. It’s important to ensure you’re covered for everyday risks, such as breakages, and larger risk events, such as being sued.
Some professional bodies or regulators might set out a minimum level of cover that they expect you to have. For businesses that need employers’ liability, the minimum amount of cover you must have is £5 million.
We believe business insurance is absolutely worth it. Like all insurance products, you don’t need business insurance until you do. Simply, none of us know what’s around the corner.
It’s tempting to think bad things won’t happen, but it’s worth considering if you could afford to cover the cost of being sued, of rebuilding your premises, or even of replacing all your tools.
Having business insurance gives you the peace of mind that if the day comes when the worst happens, you’ll be covered. It also gives your business credibility, showing your clients and customers that you’re a professional, safe pair of hands. Having the right insurance shows your clients that if an accident were to happen, they can trust you to put it right.
Ready to compare business insurance? Find prices and compare quotes for cheap business insurance in minutes with Quote Goat.
There are three main types of business insurance available. They can all work together or individually, allowing you to specify what you need, and leaving out what you don’t:
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, which means some customers or clients might insist on public liability before they’ll 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.
This one is a legal requirement if you employ one or more members of staff outside of your immediate family. It 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 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. You must make sure you’re covered for at least £5 million.
Covers you against financial loss if your client takes legal action against you if your advice loses them money, or your work causes a problem. If you need to compensate a client for financial or reputational loss because of work that you did for them, professional indemnity can cover the costs for you.
The great thing about business insurance today is that you can totally tailor the policy to meet your needs. There’s no one size fits all, so you needn’t pay for elements of cover that you know you’ll never need.
Here are a few ways to help reduce the cost of your business insurance premium:
1
The higher the sum you need to insure, the more your policy premium will be. So it’s well worth doing the maths to work out how much you’ll need cover for, rather than just going for a standard level.
2
As with most insurance, you can specify how much you’d be willing to pay in the event of making a 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 could afford to pay more in the event of a claim, the cost of your premium will come down. It’s important to make sure your excess is affordable for you, though, as if you can’t pay the excess, your insurer 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 the cost of your insurance premium: – Install CCTV and alarms on your business premises – Implement risk assessment protocol – Give health and safety training to employees – Do quality control procedures – Complete professional accreditations
4
Whether you’re buying business insurance for the first time, or your premium is up for renewal, don’t settle for the first price you get offered. Always compare online or over the phone to get the best price. Our online business insurance comparison tool makes it easy to find a great price, or if you’re feeling stuck, give us a call. We’d be delighted to help.