Insuring your business
No matter what kind of business you run, whether you work at home or in an office, work alone or have 20 members of staff, you’ll need some kind of business insurance.
As well as working out which types of business insurance you need, finding the right policy will ensure that you get the best cover to suit your needs without paying over the odds on your business insurance premiums.
How much insurance do you need?
Every business is different so you have to think about the needs of your company and the risks that it poses when choosing which types of business insurance you need, and how much business insurance to take out.
Some types of businesses are required by law to have certain types of business insurance. For example, most firms employing staff must have employers’ liability insurance, while accountants, lawyers and financial advisors all have to have professional liability included in their business insurance.
You need to be realistic about the kind of risk that your business poses, but since many business insurance policies offer at least £10 million of employers’ liability insurance – double the minimum amount required by law – you should be adequately covered in the case of an accident. This is especially useful if your employees do dangerous, high risk jobs.
Only pay for what you need
However, you also want to avoid paying for cover that you don’t really need, as you’ll only be wasting money. Striking the right balance on your business insurance is what it’s all about.
Some business insurance packages can be tailored, so talk to your business insurance provider to make sure you get the right package to suit your needs.
How uSwitch for business can help
Let uSwitch for business do all the hard work for you. We’ll compare business insurance on your behalf to save your business time and money and we’ll work out exactly what you need – even taking care of all the paperwork.