Understand which cover your business needs
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Running a business comes with risk - from accidents on your premises to employee claims and client disputes. The right business insurance protects your company from the financial impact of these events. This guide explains the main types of cover available, who needs them, and how to decide what is right for your business.
Running a business comes with risk. Business insurance protects your company from the financial impact of accidents, employee claims, client disputes, and unforeseen events. This guide explains the main types of cover available, who needs them, and how to decide what is right for your business.
Public liability insurance protects your business if a member of the public — including clients and customers — suffers an injury or property damage as a result of your business activities. It is not a legal requirement in most cases, but many contracts and trade bodies require you to hold it.
If your business manufactures, supplies, or sells products, product liability cover protects you against claims arising from damage, injury, or illness caused by those products. This applies whether you made the product yourself or sold it on behalf of another party.
Employers' liability is a legal requirement for any business with one or more employees, whether permanent or temporary. It covers you if an employee makes a compensation claim due to illness or injury sustained in the course of their work. Failure to hold valid cover can result in significant financial penalties.
If an insured event — such as a fire or flood — prevents you from trading, business interruption cover reimburses the revenue lost during that period. Standard building insurance covers repair costs but does not cover lost income. Business interruption fills that gap.
Professional indemnity cover protects you if a client claims your advice, designs, or professional services caused them a financial loss. It is particularly important for consultants, designers, accountants, and anyone providing professional expertise for a fee.
Employers' liability is a legal requirement if you have staff. Public liability is often required by clients or industry bodies. The right cover for your business depends on your industry, the nature of your work, and your exposure to risk. Our guide can help you understand what cover is right for your situation.
If you use vehicles for business purposes, Money Expert offers comparison tools for car insurance and van insurance. If you are self-employed or a business owner, personal insurance products such as life insurance may also be relevant to your financial planning.
Money Expert has been helping customers compare and save since 2003. We offer impartial comparisons and guidance across a wide range of business products, with no fees and no obligation.
Employers' liability insurance is legally required if your business has any employees. Other types of cover, such as public liability or professional indemnity, are not required by law in most cases but may be required by clients, trade bodies, or industry regulators.
Operating without employers' liability insurance when you have employees is a criminal offence. The HSE can fine you £2,500 for every day you are without valid cover. Failing to display your certificate correctly carries a separate fine of up to £1,000.
NIG policies cover more than 2,500 trades, including tradespeople, shop owners, landlords, and small business owners. When you request a quote, your specific trade and requirements will be taken into account.
Yes. Many businesses opt for combined policies that bundle public liability, employers' liability, and other covers together. This can simplify administration and is often more cost-effective than taking out separate policies.
Yes. Public liability, professional indemnity, and other types of business insurance are available to freelancers and sole traders as well as registered companies. If you work with clients or members of the public, cover is worth considering regardless of your business structure.
The right level of cover depends on your industry, the nature of your work, your client requirements, and your exposure to risk. Our guide on whether you need business insurance is a good starting point, and speaking with a specialist insurance broker can help you determine the appropriate level for your specific circumstances.
