Getting the right type and levels of insurance for your business can be a maze to navigate around.
Your individual business insurance needs will vary depending on the size and type of business you are running. Some insurance is mandatory, whilst other types of insurance can be chosen to protect against risks associated with your business.
The types of insurance you should start to think about are:
- Public liability
Public Liability is essential for most businesses, as it will protect you and your business’ legal liability for claims of damage caused to property, or of injury to an individual, as a result of your work.
- Employers’ liability
If you have employees, employers’ liability is a legal requirement and can be purchased alongside Public Liability insurance. This is a mandatory insurance for employers that protects their legal liability for financial loss if a worker experiences a job-related injury or illness.
- Commercial Property Insurance
This is the insurance you need for the property your business is taking place in, for example restaurant, hotels or pubs, or even a workshop or industrial unit.