Which business insurance do you need?
A package may combine several covers. Check each section: a broad product name does not establish that a particular loss is covered.
| Cover | Risk to discuss | Key comparison |
|---|---|---|
| Public liability | Injury to other people or damage to their property arising from your business | Covered activities, limit, excess and exclusions |
| Employers’ liability | Employee injury or illness connected with work | Who counts as an employee and which entities are insured |
| Professional indemnity | Claims about professional advice, designs or services | Retroactive date, notification conditions and run-off cover |
| Property and equipment | Damage to premises, contents, tools or stock | Reinstatement basis, security conditions and sums insured |
| Business interruption | Loss of income following an insured event | Trigger, indemnity period and calculation basis |
| Cyber insurance | Specified cyber incidents and response costs | Required controls, incident support and policy exclusions |
Check compulsory and contractual cover first
GOV.UK says employers’ liability insurance is generally required when you become an employer in Great Britain, with cover of at least £5 million from an authorised insurer. Exemptions and Northern Ireland requirements need separate checks.
Customers, landlords, professional bodies or tender documents may set additional insurance requirements. Ask a broker to reconcile those requirements with the proposed wording, including any subcontracted activities.
How to compare like-for-like quotes
Prepare one description of your work, turnover, payroll, locations and claims history. Give each insurer or broker the same information and retain the answers you supplied.
Compare the schedule and wording together, including exclusions, excesses, inner limits, conditions and cancellation terms. For monthly payment, compare the total instalments and any finance cost with the annual premium.
- Confirm the insurer, intermediary and complaints route.
- Ask which insurers the broker considers and how it is paid.
- Check cover for temporary staff, work away and subcontractors.
- Record any assumptions the insurer needs you to confirm.
What changes the cost?
Use quotes for your actual risk rather than an advertised starting premium. Different limits, work descriptions or claims histories make headline comparisons unreliable.
A lower premium can leave a higher retained loss through the excess or narrower protection. Consider whether the business could fund that loss while also dealing with interruption.
Questions before accepting a policy
Ask who handles a claim, which incidents must be reported and how quickly. Confirm how changes in activities, turnover, staffing or premises should be notified.
Keep the final wording and schedule with your renewal records. Review cover when the business changes, as well as at renewal.
Frequently asked questions
Does this page give an insurance quote?
No. It explains the cover and comparison questions to take to an insurer or broker.
A price and recommendation require details of your business and the proposed policy.
Is public liability the same as employers’ liability?
No. They address different potential claims.
Check the actual wording and who is covered rather than treating one policy as a substitute for the other.