Business Insurance Comparison

What is business insurance?

Business insurance is a general term for the range of policies that protect a business against financial loss from claims, damage and disruption. Most businesses need a combination of covers rather than one single policy, and the right mix depends on what you do, where you work and whether you employ staff.

Types of business insurance you can compare via Insuro

• Public liability insurance – covers claims from members of the public for injury or damage to their property caused by your business activities.
• Employers’ liability insurance – covers claims from employees who are injured or become ill because of their work.
• Professional indemnity insurance – covers claims that your advice, design or professional service caused a client financial loss.
• Commercial property insurance – covers business premises, contents and stock against risks such as fire, flood and theft.
• Salon insurance – combined cover designed for hair and beauty businesses.
• Shop insurance – combined cover for retail premises, stock and customer-facing risks.

Which business insurance is a legal requirement?

Employers’ liability insurance is compulsory for most UK businesses that employ staff, with a minimum level of cover of £5 million. Some businesses are exempt, such as family businesses where all employees are closely related to the owner. Other covers, including public liability and professional indemnity, are not legally required, but clients, landlords, contracts or trade bodies may ask you to hold them before you can work with them.

What affects the cost of business insurance?

Premiums depend on factors including your trade or profession, turnover, number of employees, claims history, the value of your premises and stock, and the level of cover you choose. Higher-risk activities and higher limits of indemnity generally cost more.

How comparing business insurance works

Via Insuro, you enter your business details once and are taken to Quotezone.co.uk, where you can compare quotes from a panel of providers. Insuro does not give advice or recommend a policy – the choice of provider and level of cover is entirely your own.

Do sole traders need business insurance?

Sole traders are personally liable for claims made against their business, so many choose to hold public liability or professional indemnity cover. If a sole trader takes on staff, employers’ liability insurance will usually become a legal requirement.

Can I combine several covers in one policy?

Many providers offer packaged policies that combine covers such as public liability, employers’ liability and property insurance. Check what each quote includes and excludes before you buy, as combined policies vary between providers.