Business Insurance

What is Business Insurance? 

Business insurance helps protect your business from unexpected losses or claims. We can’t predict the future, but having the right insurance can help you if something goes wrong. 

Business insurance usually includes different types of cover, such as employers’ liability insurance, public liability insurance, and professional indemnity insurance. 

These covers can protect your business from the costs of compensation claims or legal action if your business is responsible for things like property damage, injury or loss of life, lost or stolen items, unexpected closures, giving incorrect advice, and more. 

That’s why it’s important to choose the right insurance that meets the specific needs of your business and protects against all possible risks. 

How Business Quote Business Insurance Comparison Works 

Compare business insurance quotes in three simple steps with Business Quote. 

1. No Needless Questions: We ask only the important questions that matter to you and your business. 
2. We Compare Quotes: We help you find exactly what your business needs. You only pay for what you need, without any unnecessary extras. 
3. You Choose the Cover: We compare quotes from our insurance panel and discuss your options. You then choose the cover that suits your needs. 

Why It’s Better to Talk 

Every business is different, so no two business insurance policies are the same. That’s why our insurance team is ready to talk with you and help create a package that fits your business needs, without any hidden or unnecessary extras. 

Cover Against Real Risks 

Each business faces different risks. Our insurance team will explain everything clearly and help make sure you’re protected against the main risks to your business. 

Tailor Your Policy 

There’s no one-size-fits-all in business insurance. Each policy includes different types of cover. By talking with our team, you can tailor a package to meet your business’s unique needs. 

Quality Cover from Trusted Providers 

We work with trusted business insurance providers to find high-quality cover for your business. While price is important, making sure your business is fully protected is the top priority when buying business insurance. 

All Part of the Service with Business Quote 

Complete Peace of Mind, Every Year 

Once we’ve helped you create the perfect business insurance policy, we’ll handle everything with your new insurer. You can relax, knowing you’re fully covered. When it’s time to renew, we’ll get in touch to help you arrange your next policy. 

Sort All Your Business Essentials in One Place 

Business Quote is your one-stop shop for business energy, insurance, connectivity (phone line and broadband), and finance (loans). Save time and hassle by managing all your business needs in one place. Just remember one name for all your essential services. 

What Are the Main Types of Business Insurance? 

Different types of commercial insurance policies are designed to cover various kinds of risks. The key to getting the right cover for your business is figuring out which ones you need and which ones you don’t. When you sort your insurance with Business Quote, our team is ready to help you through the options. 

Here are the main types of cover you might need to consider for your business: 

• Public Liability Insurance: This covers you if you injure someone or damage something while providing your services. 
• Employers’ Liability Insurance: This protects you if an employee gets ill or injured because of the work they do for you. 
• Professional Indemnity Insurance: This is important if a customer sues you for damages due to a mistake in your work. 
• Commercial Building Insurance: This protects business premises you own, whether you’re using them or renting them out to others. 
• Stock and Contents Insurance: This covers your stock or equipment if it’s stolen or damaged by flood or fire. 
• Product Liability Insurance: This covers you if a product you have sold, manufactured, or designed injures someone or damages something. 
• Legal Expenses Insurance: This helps cover the cost of legal expenses for any claims you make or that are made against you. 
• Business Interruption Insurance: This provides compensation if a disaster or event stops your business from running normally. 

Usually, a business would need a combination of these covers. That’s why it makes sense to carry out a business insurance comparison. We can help arrange a business insurance package based on your business’s specific needs. 

What Types of Businesses Need Business Insurance? 

No business can be run entirely free from risks, regardless of its size or industry. Here’s what you should consider based on the size of your business and its stage: 

Small Business Insurance 

If you run a small business, your needs and priorities differ from those of larger businesses and national chains. You might need specialist insurance to protect against specific risks your business might face. 

If you have employees who aren’t immediate family members, you’ll need employers’ liability insurance as it’s a legal requirement. If you use vehicles for work purposes, you’ll also need specific motor cover (standard motor insurance isn’t enough). 

You should also consider: 

• Public Liability Insurance: Protects against damage claims from customers. 
• Stock Insurance: Covers your stock in case of flood or fire. 
• Business Interruption Insurance: Provides cover if something stops you from trading. 

The best thing to do is carry out a small business insurance comparison with us today. We’ll help you find the right cover. 

Limited Company Insurance 

If your business is a limited company, you also need insurance. While you can reduce risks, you can’t eliminate them. 

For instance, if an employee slips and injures themselves, you could face hefty compensation fees. Or, if your business gives bad advice or a faulty design, you could face a claim. 

The only way to protect yourself against financial loss is to ensure you have comprehensive commercial insurance with the right coverages. Start a quote online today. 

New Business or Startup Insurance 

If you’re starting out, it can be difficult to know exactly what risks your business will face. Here are some possible issues and the type of cover you’ll need: 

• A customer falls ill after eating at your restaurant: Public liability insurance. 
• An employee slips at work and breaks their arm: Employers’ liability insurance. 
• Your storeroom is broken into, and all your stock is stolen: Stock and contents insurance. 
• A burst water pipe in your road means your business needs to close temporarily: Business interruption insurance. 

If you’re still unsure what cover is right for your business, compare business insurance and start a quote with us today. Our knowledgeable insurance team can help you through the options without any hidden or unnecessary extras. 

Sole Trader Insurance 

If you’re self-employed or a freelancer, you should still consider getting insurance. For example, if you work on someone else’s property, public liability insurance can cover you if someone gets injured. 

Depending on your work, you may need additional insurance like stock insurance. 

Start a quote with us today. Our insurance team is on hand to help make sure you’re insured.

What Industries Need Business Insurance? 

All businesses with one or more employees who aren’t immediate family members need employers’ liability insurance by law. However, certain types of insurance are essential for specific industries to keep employees and customers safe. We can help arrange cover for the following businesses to ensure they have sufficient protection: 

• Salons (Beauty/Hair) 
• Takeaways 
• Shops (Retail) 
• Trade/Tradesman 
• Cafés/Coffee Shops 
• Commercial Property 
• Hotels 
• B&Bs 

If your business type isn’t listed, we may still be able to help arrange a specialist or combined policy tailored to your specific needs.

What Can Impact the Cost of Your Business Insurance? 

Several factors influence the premiums you’ll have to pay for your business insurance. Here’s a breakdown of what can affect the cost: 

• Claims History: Insurance providers will review your claims history over the last five years to assess risk and help determine prices. 
• Business Longevity: The length of time your business has been active in its specific trade can influence your premiums. Longer-standing businesses might be viewed as more stable. 
• Operational Hazards: Working in environments considered hazardous or using dangerous materials can greatly impact insurance costs due to increased risk. 
• Assets Covered: The value of the goods, equipment, and tools you insure also affects your premium. Higher values typically mean higher risk and potentially higher costs. 
• Coverage Extent: The more types of coverage you add to your policy, the higher your insurance costs can be as you’re safeguarding against more potential risks. 

By understanding these key factors, you can better anticipate the cost of your policy and explore ways to manage your insurance expenses effectively. 

Why Compare Business Insurance? 

The cheapest policy doesn’t always mean the best policy. When comparing quotes, you’ll want to look at the details and consider what’s covered and what’s not. 

It’s important not to cut corners with your business, so you need to make sure you have the right cover. If you don’t feel confident doing it alone, it’s best to speak to someone who can help understand your business’s specific needs. 

That’s why you should compare business insurance providers with Business Quote and get help from our insurance team until you find one that fits. 

Do You Need Business Insurance When Working from Home? 

Home insurance generally only covers items that you own. If you have any work equipment at home, it’s unlikely this will be covered by your existing home insurance policy. 

You will need to inform your home insurer that you are running a business from your home, as this may affect your home insurance policy. You might need to arrange work-from-home insurance or a home business insurance policy. Find out more in our guide to business insurance when working from home.