Business Insurance
Business insurance or commercial insurance is essential for protecting your business and employees.
We can supply insurance coverage for all business types, including sole traders, SMEs to large multinational corporations.
Our award-winning business insurance team are always up-to-date with the latest developments in business insurance.
With tailored business insurance, you can build a level of cover to protect against the specific risks your business faces.
We cover cybercrime, employee benefits, property, vehicles, machinery, product liability, and much more. Business insurance products include:
- Professional indemnity
- Public liability
- Employers’ liability
- Commercial legal protection insurance
Business insurance can protect against unexpected expenses. In addition, it can provide a safety net if you suffer a loss after an unfortunate incident while carrying out your business activities.
What is business insurance?
Business insurance is a form of business protection that can help with unexpected risks to your business or the result of negligence or take out business income and business liability insurance to cover against financial loss and other risks the business may experience.
- business owners need to factor certain risks in their daily work, depending on their profession.
- business insurance covers your business and employees from unexpected losses or damages.
- business owners, the self-employed, consultants and freelancers need to factor certain risks in your daily work.
- You may need public liability insurance, professional indemnity insurance, contents insurance, or other cover types depending on your profession.
- business income and business liability insurance to cover them for potential financial loss and other risks.
Insurance protects the businesses, employees, customers and any assets that your business may hold against financial loss.
Commercial insurance can protect against a wide range of risks, including those caused by:
- arson,
- cybercrime,
- natural disasters such as floods, fire, lightning, and hurricanes;
- terrorism;
- GDPR Breach
- accidental damage to premises and equipment;
- theft of goods,
- employee dishonesty and theft.
Types of business insurance cover
Cyber insurance will protect the business and your customers against internet risks such as data destruction, extortion, information theft, hacking and denial of service (DOS) attacks. Our GDPR Tax Credits has the protection of Data Guards Man that Hiscox Insurance Brokers cover.
Employers Liability Insurance is a legal requirement for employees – even if you have temporary staff. The insurance policy protects you against the cost of compensation claims should a staff member get injured or ill through working for you. If you do not have employers liability insurance in place, you could be fined £2,500 every day you are not adequately insured. Your policy must cover the business for at least £5 million.
Business Interruption Insurance could help compensate you for financial losses caused when your business cannot operate as usual. The insurance would cover essential works your landlord or utility provider may have to carry out to your premises.
Financial protection if your business activities kill or injure a member of the public or damage their property. If the injured party takes you to court, the policy will cover your legal costs and any compensation you might be liable to pay. Some clients may insist on seeing a copy of your public liability insurance before they work with you.
Professional Indemnity Insurance is not a legal requirement, but other businesses may want your business to have the insurance before you start working with them. Professional Indemnity Insurance provides cover if a client says you have given bad advice or that your work has caused a problem and decides to take legal action.Â
Buildings and contents insurance would cover your premises and stock against flood, theft and fire.
Credit Risk insurance insures the business against the risk that a customer is not paying their bill.
Keyperson or Keyman insurance is cover for someone essential to your business running should they not work for you due to health or other conditions. Keyperson insurance will compensate you against loss.
Landlord insurance will protect the landlord if the rental property is damaged, the tenant cannot pay their rent, or there is a fire in the property. You can also include protection against loss of earnings due to an insured event, such as a flood or fire damage.
Vehicle Insurance is essential for any business with vehicles. There are different types of vehicle insurance available to cover individuals or any staff that may have access to the company vehicle.
Which industry sectors do you cover?
We cover all industries and can create exclusive and bespoke insurance schemes and facilities. Bespoke insurance products have been developed for specific industry sectors and can be tailored to the business needs and circumstances.
Industry sectors range from:
– Property
– Contractors / Consultants
– Manufacturing
– Transportation/ Fleet/ Vehicles
– Finance
– Construction
– Retail
– Agriculture
– Pharmaceutical
– Food
– Health Care
– Entertainment
– Energy
– Sports & Leisure
– Health Care
– Entertainment
– News/Media/Music
– Hospitality
– Mining
– Electronics
– Internet businesses
– Telecommunications
– Education
– Aerospace
– Computing / IT
– Travel
– Waste Management and Recycling
– + Many other sectors and industries
What insurance services are available?
We have professional indemnity that can cover:
– Commercial Insurance
– Property
– Business interruption
– Legal liabilities
– Marine / cargo
– Motor fleets (any size)
– Engineering inspection contracts
– Professional indemnity
– Directors’ & Officers’ Liability
– Personal lines, such as private vehicles
– Employee benefits, assistance programmes, group pensions, etc
– High Net Worth services, such as investments, fine art and valuables, pleasure craft
– Financial Services, such as pensions, mortgages, tax, financial planning
– Commercial Finance for asset and property acquisition, invoice finance, vehicle finance (such as sale & lease-back)
Whatever your needs, we aim to understand your needs and advise you to protect your business and employees against risk.
Contact us today to discuss your requirements.
How our process works
Our streamlined process is designed to make life easy.
Simply provide 3 months of existing contracts or your requirements and we’ll handle the rest.
Review
A short call to review your circumstances
Alternatives
We find the best alternative suppliers for you
Impartial
Impartial recommendations and full support
Our promise to you
We recommend keeping your current policy if we can not find you better coverage for less.
We will benchmark your current policy for free, so you can be confident that you have the right policy in place.
Our advice is free of charge, independent and non-biased.
We are paid a commission by the partners we work with when you buy a policy or take a service from them.Â
As part of our commitment to the environment, we will plant a tree on your behalf with 1001 Trees UK