Frequently Asked Questions

Every business should take out insurance to protect against any number of risks, from damage to property to injury to others. Without the right business insurance, your organisation could be financially liable to rectify damage or cover compensation and legal costs if someone gets hurt.

Your business insurance needs will depend on the structure and activities of your business. Most small businesses require insurance to cover liabilities towards others as well as protect assets such as contents and equipment. There are other business insurance covers available that will largely depend on your profession.

The cost of your business insurance will depend on your business activities, location and the amount and type of goods you wish to insure. Like any other insurance, generally the more cover you require the higher the premium.

Business insurance premiums are calculated by taking into consideration a number of factors, each of which has their own rating in terms of pricing. Rating factors can include trade, location and levels of cover, to name a few. The combination of these factors will help to calculate the risks in your business and generate a premium to reflect that.

Business insurance typically covers a range of risks from injury to property damage and much more. There are many types of insurance available for different commercial sectors, all of which can be tailored to your business needs.

Essentially you need enough business insurance cover to protect you against the worst case scenario that could impact your organisation financially, whether this is in relation to your business assets or liability towards others.

We can, in most circumstances, provide immediate cover, either online or while you’re on the phone.

Try to have your existing insurance schedule and renewal notice available as this will give us the majority of the information that we will need. However, if you are a new business, don't worry - our business insurance advisors will be able to guide you through the process of understanding and identifying your insurance needs.

We will email your policy documentation to you which means you will receive these straight away. Alternatively, if you would prefer your documents to be posted, you will normally receive them within 5 working days.

Most insurance quotes are valid for 30 days from the day of quotation. Some insurers may offer a 45 or even a 60 day quote validity period.

Once you submit your details online, in the majority of cases, we will be able to provide you with a quotation so you can purchase your policy immediately. In some cases, to ensure you receive the right cover, it may be necessary to ask you some additional questions. You can select for us to call you, or alternatively call us and speak to one of our business insurance advisors straight away.

You can retrieve an existing quote by following the link in our navigation bar. You will need the email address you used when creating your original quote and the password that we have emailed to you to log in. If you need to reset your password you can request this and we will email you a new password immediately.

Once you have retrieved your quote you can look back at the details provided and update any of your business information. A new quote will be generated to take into account any changes made.

To see a list of the insurance we can arrange visit the Products page. If you are unable to find an insurance cover right for your business, either request a call back or call us using the number at the top of the page and one of our business insurance advisors will be able to help you.

You will find details of your cover within your full policy wording and summary. Please take time to read these documents as it is important that you understand any limitations and the levels of cover included.

You can pay annually using a credit/debit card or by making an electronic payment. Alternatively you can manage your payments through a monthly Direct Debit plan with our approved premium finance provider, Premium Credit Limited. 

Your insurer may recommend the use of an alarm installer who is a member of either the National Approval Council for Security Systems (NACOSS), the National Security Inspectorate (NSI) or the Security Systems and Alarms Inspection Board (SSAIB). In some cases an intruder alarm will be a requirement of your policy and this will be explained in more detail with your quotation.

Your insurer may require a minimum standard of security to be in place. Full details of these requirements will be provided with your quotation. 

Most of the policies we arrange offer legal expenses cover to help with any employment or legal problems you may have. For those policies which do include this cover you can choose to purchase protection as an optional extra. Legal expenses insurance will cover costs associated with a wide range of legal matters including employment and contractual disputes.

The ELTO service aims to help those who have suffered injury or disease in the workplace identify the relevant Employers' Liability (EL) insurer quickly and efficiently. Insurers must supply details of policies sold which include Employers' Liability cover, to the ELTO within strict timelines, to ensure that the database is kept up to date. Your insurer will share with ELTO the information you provide when a policy is purchased.

You will be required to provide your Employer Reference Number (ERN) which is allocated by HMRC. The ERN is the PAYE tax code given to a company as a reference number for their employees' income tax and national insurance contributions. It is commonly referred to as the 'Employer PAYE Reference' and may be found on a number of PAYE forms and documents, including P45, P60 and P11D.

If you have experienced a claim in the past but are not sure of the details, speak to your previous insurer or broker, and they will be able to give you details of your previous claims history. This is something that all insurers will ask for when you are searching the market, so make sure you get these details in full to make arranging your insurance as smooth as possible.

A clause (or endorsement) within an insurance policy sets out the insureds rights and obligations in fulfilling their part of the contract with the Insurer. Generally, a clause will be about one subject and will detail the terms of a specific part of the contract. It must be strictly complied with in order for any potential future claims payments to be met.

A single article limit within an insurance policy refers to the maximum amount that an insurer will pay out in the event of a claim for any one item.

Insurance premium tax is the tax applied by government to business insurance. VAT does not apply to business insurance.

Excesses are the initial amount of a claim payment that the policyholder is responsible for. This can vary between different cover types and is typically higher for covers such as subsidence and flood.

Business insurance excesses can range from £100 upwards, depending on the cover that it relates to. Risks that will typically generate higher losses may have higher excesses, for instance subsidence excesses generally start at £1000. Higher excesses may also be applied by an insurer as a condition of cover if the risk of a loss is deemed to be higher than average. You should check your policy details or speak to your insurer to confirm your policy excesses. In certain circumstances you can voluntarily increase your excess to help reduce the insurance premium but remember you will be responsible for more of the claim cost.

The Insurance Act 2015 applies to all commercial insurance contracts and reforms the way in which risks are presented to insurers, particularly in terms of misrepresentations and fraud in relation to claims.

If there is more than one director of the limited company then as a minimum you will need to take out employers’ liability insurance. It is recommended that you include other insurance covers to protect your business such as public liability insurance, business interruption, professional indemnity, directors and officers liability and cyber liability as well as other covers relevant to your business.

You should review your business insurance policies at least once a year at the point of renewal, or at any point that you make changes to your business activities. This could include staffing levels, items of stock or other processes involved in the day to day running of your business. This list is not exhaustive so if you are unsure whether or not a change will affect your insurance, speak to your broker or insurance company.

There are a number of covers you will need to take out to protect your business. Depending on what you do, you should consider public liability insurance, employers liability insurance, contents insurance, business interruption insurance and equipment cover, to name a few.

Public liability insurance can cover the cost of compensation as well as any associated legal costs awarded to a member of the public if they are accidentally injured or their property is damaged as a result of your business activities. Find out more about Public Liability Insurance.

If you’re running a business, the most likely answer is yes. Without public liability insurance you could be financially liable if your business activities accidentally cause harm to someone or damage their property.

Professional indemnity is a type of liability insurance that protects against professional negligence for those who give advice, provide services or designs. Find out more about Professional Indemnity Insurance.

Professional indemnity insurance covers the cost of legal action in defending yourself against a claim for inadequate advice, designs or services as well as compensation awarded to rectify the damage.

Employers’ liability insurance is a type of liability insurance that is required by law to protect against claims for compensation if an employee sustains an injury whilst at work. If you are an employer then you have a legal obligation to have this insurance in place. 

Employers’ liability insurance protects your business against compensation claims made by members of staff if they suffer an accident or injury at work during the course of their employment. Find out more about Employers’ Liability Insurance.

Products liability insurance is a type of liability cover that offers protection for claims made against you if a product you sell, supply or manufacture is defective and causes injury to someone or damage to their property. Find out more about Product Liability Insurance.

Product liability insurance covers claims for legal and compensation costs resulting from injury or property damage caused by defective products sold, supplied or manufactured.

Business interruption can cover loss of gross profit and increased costs of working following damage to property that affects your ability to trade. Find out more about Business Interruption Insurance.

Cyber risk business insurance covers your business against exposures such as hacking, data theft and system infringement. Find out more about Cyber Insurance.

Business insurance can offer cover for property such as buildings, contents and stock and most policies will offer protection against damage caused by weather such as storm and flood.

Contents insurance protects business items and equipment that you use in your day to day business. For instance, if you are running a shop, this could include tills and display cabinets, and for an office would refer to office furniture.

Stock cover protects the goods that you sell but can also cover goods held in trust (such as a customer’s artwork to be framed) as well as works in progress, i.e. items that are still being manufactured or created on behalf of a client. Typically it is covered at the cost price to your business.

Personal accident insurance is a collection of benefits payable to employers or employees in the event of death, loss of limb, permanent total disablement or temporary total disablement that makes a person unable to work. Benefits can be selected as required and are payable as either a fixed sum or as a weekly benefit depending on the type of injury.

This means that your property is covered for all types of accidental loss and physical damage unless it is specifically excluded by the policy. This is more comprehensive cover than ‘specified perils’ policy which only covers specified events, i.e. fire and flood.

It gives peace of mind to ensure that legal expenses, awards of compensation and jury service/witness attendance allowances are covered for a range of unexpected events such as employment disputes, taxation proceedings and commercial tenancy agreements to name but a few. Typically it also provides a legal advice helpline for all business related issues, should you have any concerns. Find out more about commercial legal protection.

Directors amd Officers insurance policies offer liability cover for company managers to protect them from claims which may arise from the decisions and actions taken within the scope of their regular duties. Such policies cover the personal liability of company directors and officers as individuals but also the reimbursement of the insured company in case it has paid the claim of a third party on behalf of its managers in order to protect them.

Business Interruption insurance is designed to cover a loss of gross profit, revenue or income following an interruption to the business caused by an insured event such as fire or flood. It will continue to support the business until you are back to the same trading position as you were prior to the event up to the maximum indemnity period. Covering your fixed costs like rent/mortgage payments, staff salaries/wages and utility bills.

Terrorism insurance is purchased to cover potential losses and liabilities that might occur due to terrorist activities.

New for old cover ensures that your property, be it buildings or contents, is covered without a reduction in the value of the item for wear and tear, if a claim is made. So you will receive a new building or item to replace the old one at the same value as the original.

Generally the answer is no, the landlord would be responsible to protect their property. However, from time to time it can be written into the lease agreement that the tenant will insure the building on behalf of the landlord. Check your lease agreement or speak to your landlord to double check. If you are responsible to cover the building, you can add this to your business insurance policy. You can also add the landlord as an interested party if required.

Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination. It covers property as it moves from place to place. It is a class of property insurance that insures property while in transit against loss or damage arising from perils associated with the navigation of the sea or air and subsequent land and inland waterways.

Engineering Insurance protects a business against the risk of machinery or equipment breakdown. It can also provide cover for the inspection of machinery on an annual basis in accordance with regulation and legislation.

Tool insurance can offer protection for your business equipment up to a value of your choice. Different insurers will offer varying levels of cover so you can tailor it to your needs.

All insurers will ask that you take reasonable steps to protect your property from theft or damage. Leaving expensive hand tools or power tools on site is risky, however if reasonable precautions have been taken to secure them, for example, locking the building that you are working in and controlling access through limited key holders, then these could potentially be covered. Speak to one of our business insurance advisors who will be able to help you.

Loss of rent cover can be included within a landlord’s insurance policy and can offer protection against loss of rental income if your property is damaged by an insured event such as fire or flood. It can also provide cover for alternative accommodation for your tenants while your property is being repaired.

Commercial landlord insurance covers your commercial property against claims for damage to buildings. It can protect you against claims made by tenants or third parties if they are injured at your premises and it is deemed to be your fault. It can also provide cover for loss of rent if your property is damaged following an insured event such as a fire or flood or employers’ liability cover if you employ staff such as cleaners.

For both commercial and residential landlord insurance, malicious damage by tenants covers you against damage to your property intentionally caused by tenants.

There are many security features available ranging for high security locks and alarms to CCTV that can be viewed remotely from your tablet or mobile phone. Dependent on your trade and the goods or services that you provide, you may be targeted more than other businesses in the same area. Speak to a locksmith about upgrading your locks, and enquire about remote signalling alarms and what may be suitable. The initial outlay may seem a little costly; however the benefit of the long term protection and peace of mind is invaluable.

Dependent on the policy that you have taken out, you may have this included as standard. You would need to double check this is included within your insurance policy and that the cover meets all of your needs and requirements.

Retail Insurance for pop-up shops and pop-up restaurants can be hard to find because most business insurance policies provide 12 months cover as standard. Talk to your broker to arrange suitable cover.

There are a number of insurance covers that you will need to cover your shop, most of which are conveniently combined into an easy to buy shop insurance package. Generally these include but are not limited to public liability insurance, employers’ liability insurance, contents and stock cover, money, business interruption and cover for your shop front.

Not all insurers offer the same level of cover and therefore you should check that the cover provided meets your needs.

Tools are usually covered under a property policy e.g. contractors' tools or goods in transit - and not Commercial Van insurance.

Not all insurers offer the same level of cover and therefore you should check that the cover provided meets you needs.

Motor legal protection is usually sold in addition to your main motor policy, and is a separate insurance policy that only covers your legal fees in the event that you need to pursue somebody for losses and expenses after an accident that was not your fault. It can also cover against losses caused by uninsured drivers.

If you are using your own car for business purposes then you will need to include business use to protect you while you’re on the road or check that business use is included in your current car insurance policy. You should also check whether your car insurance covers commuting to work.

Most standard car insurance policies only provide cover for social use and commuting. If you use your own car in relation to your business whether doing deliveries, picking up supplies or visiting clients then you will need to ensure you are covered for business use.

To check if your tools are covered in a van overnight you will need to read your policy or contact your insurer and ask. Most insurers do not provide business tools cover on a motor policy and you will need separate tools insurance. Each insurer will offer different cover and may request certain conditions to be in place for cover to be in force.