Business Insurance

If you're a business owner, an independent professional or self-employed, business insurance can help to protect you and/or your company against unexpected costs.

Types of business insurance

Some types of business insurance are required by law:

• if you are an employer you are legally obliged to have employers’ liability insurance to cover the cost of compensating employees who are injured or become ill through work
• if your business uses vehicles you are legally obliged to have commercial motor insurance

Other types of business insurance are optional, such as:

• commercial property insurance, which covers the cost of repairing or rebuilding your business premises, or replacing your stock or equipment
• liability insurance, which covers the cost of compensation claims following fault or negligence brought against you or your business by clients, customers, shareholders, investors, or members of the public
• Cyber insurance, which covers you for losses relating to damage to, or loss of information from, IT systems and networks.

Types of liability insurance include:

• public liability
• product liability
• professional indemnity
• directors' and officers' liability

Buying business insurance

Business insurance is usually sold as a package, combining a number of different policies under one premium.

The types of policies you need, and the cost of your premium, will be based on a number of factors including:

• the nature of your business
• its annual turnover
• the number of people you employ
• your insurance claims history

You can buy business insurance directly from an insurer or from a specialist broker.

Get a Free Online Quote today and see how much you could save each month!

Do you have a question? Speak to one of the team on Norwich 01603 931177

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