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Business Insurance protects your business if it suffers as the result of normal activities – particularly compensation claims. Business cover includes professional indemnity insurance, public liability insurance and employer’s liability insurance. However, at BIS Insurance we can tailor this package to you.

Why do you need business insurance?

Every business needs business insurance. Not only is it a legal requirement to have adequate employers’ liability insurance if you employ staff, but it is in your business’ best interests to have insurance in place to cover you against any future claims. Every business has its risks and having the right insurance in place will cover you against things like professional mistakes, accidents, theft, damage and legal fees.

What type of business insurance do you need?

The type of insurance that you need for your business will depend entirely on the type of business you have and the risks that it faces. 

If your business interacts with third parties such as, customers, clients, suppliers and other members of the public, it is worth considering having a public liability insurance policy in place. 

If your business gives professional advice or services which involves handling client data and intellectual property, you will need to consider having professional indemnity insurance as part of your cover.

If your business has employees, your business is legally required to have employers’ liability insurance.

How much is business insurance?

Several factors including the nature of your business and how it is run will impact the cost of your policy. There are also different levels of cover that you can choose from too, which will also reflect in the price. 

When your insurance premium is calculated, your insurer will take into account how likely you are to claim and how much your claim would possibly cost. Those businesses considered to be riskier will pay a higher premium to those who are low risk.

What does business insurance cover?

Business insurance can cover a range of different business risks. 

Public Liability insurance can cover compensation claims made by a member of the public for injury or damage that is caused by your business. Whereas, professional indemnity insurance will cover claims that are made against you by a client for a mistake in your work or they have suffered a financial loss as a result.

Employers’ liability insurance can cover workplace injuries and damage claims made by a member of staff. 

Within your cover you can also choose from additional cover such as buildings and contents insurance, cover for business equipment, tools and stock too.

If you need help or advice choosing the right business cover for your needs, contact us and our team will be happy to help.

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What is Business Insurance?
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What is Business Insurance?
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Business Insurance protects your business if it suffers as the result of normal activities - particularly compensation claims. Business cover includes professional indemnity insurance, public liability insurance and employer’s liability insurance. However, at BIS Insurance we can tailor this package to you.
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BIS Insurance
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