According to official government statistics, there were 5.5 million private sector businesses in the UK by the end of 2016 – and more than 99% of these were small to medium sized businesses. If you’re one of them, you might be interested to know about how you can insure your business.

Financial and commercial success for those millions of businesses is underpinned by the security of business insurance – safeguarding not only the many assets of the business, but also the range of liabilities which may threaten to undermine or even bring the enterprise to its knees.

So, how may we help you insure your business?

Elements of business insurance

In our comprehensive guide to business insurance, we review the many disparate components that may go into the typical business insurance package.

Since there is such a huge range of different types of business, it makes sense that there is a similarly huge range of insurance packages to suit the particular needs and requirements of any one business – cover needs to be tailored specifically to those needs.

One of the principal ways we may help is in disentangling all these various elements, in order to come up with a bespoke package that matches the individual needs of your business – providing all the protection it needs, without exposing you to risks that may have slipped through the cover arranged, or having cover for types of risk that your business may not need.

We are able to provide such bespoke cover for any business, including working from home insurance, to safeguard the business you may be running from there.

Here are just some of the ways in which we may help:

Premises, equipment and stock

• we arrange insurance cover for the physical structure of any business premises you may own;
• if you own the premises or if you occupy them on a business lease, we are also able to arrange cover for the stock you carry, together with equipment, appliances, tools, and machinery included in the contents of the premises – it is typically also available for any business equipment and supplies you may be using in your home-based business;

Public liability insurance

• one of the risks with the capacity for bringing your business to its knees is public liability;
• as the owner of the business, you have a duty to take every reasonable precaution to prevent injury or property damage not only to your customers, but also your suppliers, neighbours and members of the public;
• if you are found to be in breach of that duty, you may be hit by a claim of such proportions that your business has little prospect of recovering;
• so, we arrange indemnity against such claims for up to at least £1 million, or if your circumstances warrant extra cover, up to £5 million or more;

Employers’ liability insurance

• if you employ anyone else – other than a close member of your family – to help run your business, the law is almost certain to insist that you have a minimum of £5 million employers’ liability insurance;
• this is to ensure that you and your business are always in a position to meet claims from employees who may have been injured or who contract an illness through their work for you.

These and other elements of business insurance are designed to help protect your enterprise. We may help to ensure that you choose the appropriate type and level to insure your business at a competitive price.