What is business insurance and what does it cover?
Find out more about what business insurance is and the risks that it could cover your business against.
Business insurance could protect a business from financial and physical losses in the event of incidents such as:
- Accidental damage
- Injury and illness
- Fire and flood
- Nuisance and vandalism
- Claims of negligence.
There is a wide variety of risks that a company can protect themselves against with business insurance cover. To accommodate this, business insurance packages usually comprise a number of different policies, all of which are designed to protect your business.
However, no two business insurance packages are exactly the same, which is why it may be useful to use a broker to help identify all of your business risks ensuring your needs are tailored to and that your business is comprehensively covered.
Below is a list of the most common types of small business insurance policies that you may want to consider including in your insurance package with a brief summary of the risks they protect against. Bear in mind that you may require additional cover depending on your business needs. Click the links for more information.
|Policy name||Risks covered|
|Buildings insurance||Damage to buildings or fixtures and fittings|
|Contents insurance||Damage or loss of assets or stock|
|Employers' liability||Causing illness or injury to staff|
|Public liability insurance||Causing injury or illness to customers or damage to customers' property|
|Professional indemnity insurance||Defending legal action arising from negligence, error or providing bad advice|
|Business interruption insurance||Loss of income caused following an interruption to business operations|
Many policies can also be modified with extensions to provide additional cover to suit your particular business.
To help you better understand the types of policies that you might need to consider for your business, we've created the what insurance does my business need? tool.
The right business insurance at a price you'll like.
Our expert service finds policies and prices from trusted providers and makes it easy to protect your business properly.