You must have business insurance if . . . .

You employ staff

If you employ staff the law states that you MUST have Employers´ Liability Insurance in place.  Employers´ Liability Insurance protects you against any claims if an employee injures themselves at work.  If you are the only employee of your company it does not need to have Employers’ Liability Insurance.

You deal with the public or they visit your premises

You should consider taking out Public Liability Insurance.  Public Liability Insurance is a core requirement for many businesses and covers your liability to pay compensation for injury or damage to the public, or their property, caused in the process of you going about your business. It also covers legal fees and other expenses to do with defending any kind of personal injury claim.

You sell products

You may want to consider taking out Product Liability Insurance. Product Liability Insurance covers your liability to pay compensation for damage or injury caused by something going wrong with the product (but not if the problem is due to an inferior product that is not fit for purpose). 

You provide advice or services

You should consider taking out Professional Indemnity Insurance.  Professional Indemnity Insurance is compulsory for certain professions, such as lawyers and accountants, and provides protection against claims that the advice you have provided is incorrect, or the services you have provided are negligent.

You have specialist tools or equipment

If you have specialist tools or equipment  that are costly or difficult to replace you might wish to consider protecting these with an appropriate Business Equipment Insurance policy.  

You transport goods

If you transport goods as part of your business operations, you should consider Goods In Transit Insurance which will cover you for loss or damage of the goods during their journey.

You want health insurance for you or your employees

Health insurance covers the cost of private healthcare to help you get back on your feet and fit to work again as soon as possible.  Taking out private health insurance means you can choose where, when, and who treats you.

You run one or more business vehicles

You MUST have appropriate Business Van Insurance or Business Car Insurance as per any other car van lorry or motor bike on the road.  Note that your personal car insurance policy is unlikely to cover you for business use.  You must have at least insurance cover the cost of repairing any damage you cause to any other vehicle (third party insurance).  Depending on the value of your vehicles you may prefer to take out comprehensive insurance which will also cover the cost of repairing damage to your own vehicle.  If your car is financed comprehensive insurance may be compulsory.

Other types of business insurance

There are a number of other business insurance policies available to offer protection against certain situations.  Some of these may be included in your policy, such as:

• Business interruption insurance, which covers you for loss of revenue or trading profit if your business is unable to trade.
• Keyman insurance, which provides compensation to your business if specific named staff are unable to work due to accident or illness.
• Money insurance, which reimburses you for money that gets lost or stolen, either from your premises or in transit.

You must have business insurance if . . . .

You employ staff

If you employ staff the law states that you MUST have Employers´ Liability Insurance in place.  Employers´ Liability Insurance protects you against any claims if an employee injures themselves at work.  If you are the only employee of your company it does not need to have Employers’ Liability Insurance.

You deal with the public or they visit your premises

You should consider taking out Public Liability Insurance.  Public Liability Insurance is a core requirement for many businesses and covers your liability to pay compensation for injury or damage to the public, or their property, caused in the process of you going about your business. It also covers legal fees and other expenses to do with defending any kind of personal injury claim.

You sell products

You may want to consider taking out Product Liability Insurance. Product Liability Insurance covers your liability to pay compensation for damage or injury caused by something going wrong with the product (but not if the problem is due to an inferior product that is not fit for purpose). 

You provide advice or services

You should consider taking out Professional Indemnity Insurance.  Professional Indemnity Insurance is compulsory for certain professions, such as lawyers and accountants, and provides protection against claims that the advice you have provided is incorrect, or the services you have provided are negligent.

You have specialist tools or equipment

If you have specialist tools or equipment  that are costly or difficult to replace you might wish to consider protecting these with an appropriate Business Equipment Insurance policy.  

You transport goods

If you transport goods as part of your business operations, you should consider Goods In Transit Insurance which will cover you for loss or damage of the goods during their journey.

You want health insurance for you or your employees

Health insurance covers the cost of private healthcare to help you get back on your feet and fit to work again as soon as possible.  Taking out private health insurance means you can choose where, when, and who treats you.

You run one or more business vehicles

You MUST have appropriate Business Van Insurance or Business Car Insurance as per any other car van lorry or motor bike on the road.  Note that your personal car insurance policy is unlikely to cover you for business use.  You must have at least insurance cover the cost of repairing any damage you cause to any other vehicle (third party insurance).  Depending on the value of your vehicles you may prefer to take out comprehensive insurance which will also cover the cost of repairing damage to your own vehicle.  If your car is financed comprehensive insurance may be compulsory.

Other types of business insurance

There are a number of other business insurance policies available to offer protection against certain situations.  Some of these may be included in your policy, such as:

• Business interruption insurance, which covers you for loss of revenue or trading profit if your business is unable to trade.
• Keyman insurance, which provides compensation to your business if specific named staff are unable to work due to accident or illness.
• Money insurance, which reimburses you for money that gets lost or stolen, either from your premises or in transit.