Small business insurance, like all insurance, is a highly competitive market sector with many different products from which to choose. Some types of cover, such as employer liability insurance or motor insurance, are mandatory legal requirements depending on the type and scope of your business. Others are optional but can make life a whole lot easier when something unexpected pops up, which it often does. Small business insurance can prove to be a vital lifeline just when you need it most.
The type of policy you choose will depend on the type of small business you own. Commercial contents insurance, or ‘business assets’ insurance, will protect you from accidental damage to tools or equipment in the event of a fire, theft or flood. Public liability insurance will help with court costs if you’re ever accused of damage or injury which has resulted from your business activities. Professional indemnity insurance will cover your costs if a client wants to take you to court for negligence, and business buildings insurance will be useful for those who own their own premises. There are countless insurance products available on the market and it is also possible to insure each risk separately or to bundle them under one umbrella policy. With so much variety, it is beneficial to take the time to shop around to make sure you have chosen the right option for your business.
It’s important to protect your small business against unexpected risks and loss of profits/reputation. Having the right combination of insurance products can spare you from facing the eye-watering (and often crippling) costs which can arise from unpredictable events and get you back up and running.
All businesses are different in nature, and there are multiple
factors that can affect the cost of your insurance.
All businesses are different in nature, and there are multiple
factors that can affect the cost of your insurance.
Some business insurance are mandatory by law:
There are a number types of business insurance designed to cover different areas and different business types. Inzurly provides insurance for professional indemnity, public liability, employers’ liability and more. Please explore the benefits of our cover today.
Your premium will depend on what type of insurance you are looking for and how large your business is. Factors such as turnover, number of employees and the location of your office or registered address are important for insurers to determine the cost of your premium.
Generally, business insurance is not required by law however businesses often acquire insurance to ensure that their business is protected against a number of risks. However, it should be noted that employers’ liability insurance is a legal requirement for businesses that employ staff in the UK.
A microbusiness is generally defined as a small business that employs less than 10 people.
Different insurance providers set different expiry dates for their quotes. If you would like to know how much time you have left to respond to your quote, please do not hesitate to get in contact with us and we will provide you with this information.
Inzurly offers a number of different insurance packages for a wide-range of business types. We do not charge admin fees when you need to make changes to your policy. Furthermore, we offer insurance packages for a competitive premium with a range of attractive discount offers. Explore more benefits of our cover today.
Certain types of business insurance such as employers’ liability insurance are a legal requirement in the UK and are therefore compulsory. Other types of business insurance such as public liability, professional indemnity and business emergency cover ensure that if your business is left damaged by a wide-range of risks, you will receive a helping hand.