Business insurance

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What is business insurance?

Small business insurance is a way to protect your business from financial losses, such as compensation claims, property damage and theft. There are different types of cover available to suit your business needs. You can tailor your quote to suit your requirements too.

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

What does business insurance cover?

Business insurance policies can cover you for property damage, legal liability and employee-related risks, to name a few. The level of cover you need will depend on the type of business you own. As no two businesses are the same, it’s important that you get a policy that is right for you and covers exactly what you’re looking for.

What are the different types of business insurance?

The main types of business insurance include:
  • Public liability insurance

    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 if there is a spillage on the floor but no wet floor sign.
  • Employers liability insurance

    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

    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 purchasing a product from you that doesn't work properly.
  • Professional indemnity

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

Do I need business insurance?

If you employ one or more members of staff then you'll need to have an active employers 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, including landlords insurance for business use to protect your premises. 

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

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What types of small businesses can you insure?

We compare over 500 professions to find insurance that suits your needs. So, whether you're a baker, cleaner, beautician or hairdresser, we can help

For more information take a look at our guide on small business insurance. 

How much does business insurance cost?

The cost of business insurance will vary depending on what type of business you are running, as well as the specific insurance needs of your business. The level of cover you need will ultimately determine the cost.

Insurance policies come in packages, offering a range of different cover and optional extras. It’s important to remember that the cheapest quote isn’t always the best one, it’s about finding the right cover for you and your business.

Is business insurance a legal requirement?

If you have employees, it is a legal requirement to take out employers liability insurance. Depending on the nature of your business, you may be required to take out other types of insurance too. Get a quote to fully understand your business insurance needs.

Can I get business insurance before registering my business?

Yes, you can get business insurance before registering your business. When you’re buying business insurance, you probably won’t be asked for your company registration number or other registration details.

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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.