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What is business insurance?

Small business insurance is a way to protect your business from financial losses like compensation claims, property damage and theft.

You can tailor your quote and choose from different cover types to meet the needs of you and your business needs.

No matter what type of business you own, it's important you understand the risks your business could face. So you won't be left out of pocket if something unexpected happens.

Do I need business insurance?

If you employ one or more members of staff, you'll need to have an employer's liability insurance policy in place.

There are lots of other scenarios where you might need business insurance. Different types of businesses need different types and levels of cover.

Here are some examples of what type of insurance you might need for your small business:

If you're a mobile hairdresser and you give a customer a chemical burn by accident, they might take out a lawsuit against you. If so, you'd be relieved if you had public liability insurance.
If a waiter working at a restaurant slips on a wet floor where there's no sign and breaks their leg, then you might need employers' liability insurance.
If you're a shop owner you may want a combination of these products to ensure you're covered. Plus landlords insurance for business use to protect your premises.

Did you know? As an employer, it's your responsibility to protect your business and employees. Visit GOV.UK for more information.

What are the different types of business insurance?

The main types of business insurance include:

Public liability insurance provides cover if a member of the public injures themselves or makes a claim against your business. For example, someone slipping and injuring themselves on a wet floor when there's no wet floor sign.

Employers' liability insurance protects you, your business and your employees if a member of staff makes a claim. For example, a member of staff falling off scaffolding, or an office employee tripping over a cable and breaking their wrist.

Product liability insurance can protect your business if a customer makes a claim against a faulty product you've made. For example, if you're a manufacturer and a customer makes a claim after buying a product from you that doesn't work properly.

Professional indemnity insurance can protect you if someone says you've provided inadequate advice, services or designs to a customer.

What do I need to get a small business insurance quote?

To get a quote for your business, you'll need:

Your name and address
The name, address and nature of your business
Whether you are a sole trader or limited company
How many employees you have
Where you sell to (the UK or abroad)
Details about where you sell (in an office/market stall/from home)
Where you keep your stock
Your projected turnover

Insurers will use these to decide how much to charge you for a policy.

Confused.com Business Insurance is provided by Simply Business. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London EC2V 7NG. Our service is free and compares a range of trusted household names. Confused.com is an intermediary and receives commission from Xbridge Limited which is based on a percentage of the total annual premium if you decide to buy through our website. We pride ourselves on impartiality and independence – therefore we don't promote any one insurance provider over another.

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