Why compare with liabilityinsurance.co.uk?
Saving time and money will be high on your agenda as a busy business owner. With liabilityinsurance.co.uk, you’ll get both. Sit back while our platform quickly compares over 15 of the UK’s top liability insurance providers to bring you the most competitively priced quote on the market.
Competitive Rates
Compare liability insurance quotes from as many as 15 different providers all in a single search and access exclusive deals you won’t find elsewhere online.
Online 24/7
Compare new liability insurance policies or recall your saved quotes 24 hours a day. Amend or change your cover options instantly with the click of a button.
Extras
Easily browse and compare additional cover options and compare them against your quote side by side. Add, remove, or increase your cover and have it tailored to your individual business requirements.
Tailored to you
With liabilityinsurance.co.uk, you’re in good hands. It’s our aim to save you both time and money. Our panel of liability insurance companies are selected by hand based on their ability to deliver high levels of customer service and extremely competitive pricing.
Help Centre
Liability insurance is complex and often makes references to many complex legal terms. Understanding exactly what you need and what your buying can get confusing. Liabilityinsurance.co.uk is here to help. We’ve conveniently broken down the various types of business insurance to make it easier to digest and understand. Check out our help centre for more information.
Public liability claims can happen to anyone, and when they do - we're here to help.
What is business insurance?
Running a business comes with a lot of responsibility. Liability insurance is designed to cover you for unexpected events and sets forth a host of safeguards for if something goes wrong. There is no “one size fits all” approach to liability insurance and you’ll need a tailored policy that’s specific to the type of business you run and the amount of cover you need.
Why should I insure my business?
There are certain risks associated with running a business. Liability insurance will help protect you against these risks and other unexpected events and shows both your customers and employees that you operate a well-run and trustworthy company. The level of liability insurance you choose will directly depend on your own business needs. Choosing to insure plant machinery, tools and business premises for example will be your own choice but one that should be carefully considered from a risk perspective.
Is liability insurance a legal requirement?
In order to legally operate a business, you’ll be required to have employers’ liability insurance, however, that’s only if you have one or more employees. Sole traders are exempt from this requirement and can operate on their own without it. Other business insurance is optional but considered essential among most business owners. It’s the responsibility of the business owners to make sure that the company, and those working within it, are protected from injury, damage or theft to property or damages caused to third parties.
Who needs liability insurance?
While not necessarily a legal requirement, in some professions, being inadequately insured could make it almost impossible to trade, while those working in the public sector will usually be required to have a certain level of public liability insurance. From another perspective, in order to join certain trade bodies or business associations, you may need to prove that you have adequate business insurance, for example, a professional indemnity policy.
What are the main types of Business insurance?
Running a business comes with a lot of responsibility. Liability insurance is designed to cover you for unexpected events and sets forth a host of safeguards for if something goes wrong. There is no “one size fits all” approach to liability insurance and you’ll need a tailored policy that’s specific to the type of business you run and the amount of cover you need.
Public liability insurance covers you in the event a member of the public makes a claim against your business. For example, if someone is injured or their property gets damaged whilst you’re carrying out your business activities, you could find yourself on the wrong end of a compensation claim if a court finds you legally responsible. Public liability insurance will provide the necessary cover to resolve any claims brought against you. Due to the varying nature and risk posed by individual businesses, there are different levels of cover on offer ranging from £1 million up to £10 million. You should carefully evaluate the risk of a claim being brought against you and ensure you have the correct amount of cover to protect your business.
Indemnity
cover, also referred to as professional
liability insurance is designed to protect and safeguard service based
enterprises.
An organisation that either provides a service or offers advice, can be sued
if their
customer is unhappy with the work.
Professional liability insurance is available to business owners,
sole traders, the self-employed and freelancers. Cover varies depending
on the nature and frequency of your work and will be subject to honest risk
assessment. In the event of any claim arising against the business, a
Professional
indemnity insurance policy will handle the costs of solving any
disagreements which
includes legal fees and
compensation pay-outs up to a maximum of around £10 million.
If you
employ one or more people, you’re
required by law to have employers liability insurance. As one of the main
types
of business insurance, employers liability cover safeguards you in the event
that
an employee seeks compensation for a work related illness or sustains injury
while
carrying out their
duties.
Under an employers liability insurance policy, compensation pay-outs,
damages
and legal fees would be covered should an employee claim for a work related
illness
or injury. The type of cover you choose, and the policy limits you require,
will
usually depend upon the industry you operate in and the nature of work
undertaken
by your employees.
What details do I need to compare business insurance?
Getting started with a new quote for liability insurance is easier than ever when you compare with liabilityinsurance.co.uk. We’ll only need a few details to provide a tailored quote that ensures your business is properly covered.
- BUSINESS INFORMATION
We’ll need to know a bit of background on your business and what it does.
- DETAILS OF EMPLOYEES
Tell us about any employees you have. This includes those that work part time, on a temporary basis or as contractors.
- LEVEL OF COVER REQUIRED
You’ll need to specify the level of cover you require. Choose the amount of cover you need for public liability and legal expenses and add extras such as tool cover, office equipment or stock.
- NATURE OF BUSINESS
Once we know your industry, we’ll ask a few questions about the specific nature of your business. This helps to determine exactly what cover you need.
- PREVIOUS CLAIMS AND LEGAL DISPLUTES
If you’ve made any previous claims on your business insurance or have any ongoing legal disputes, we’ll need to know more about them.
FAQs
As with most insurance, business insurance can get confusing, especially with the addition of complex legal terminology and many different definitions of liability. For a better understand of whats involved with arranging business insurance, check out our FAQ section below or visit our help centre.
1. Whats the best business insurance?
There is no “one size fits all” product when it comes to business insurance. The cover you need will depend on the nature of your business, whether you have employees and what risk you pose to the general public. As with any insurance, always be aware of any exclusions in your policy and understand the exact limitations of your cover.
2. Do online businesses need liability insurance?
Although not a legal requirement, it’s a good idea to consider liability insurance, even as an online company. You can protect yourself from cyber-attacks or stock damage with a package policy. You’ll also be able to get professional indemnity cover if you’re a service based online industry.
3. What does liability insurance cover?
Liability insurance covers an extremely broad spectrum. Exactly what’s covered and what’s not will depend on your individual policy and level of cover. In general, liability insurance provides protection for costs, damages, legal fees, or compensation pay-outs arising from accidents, damages or injuries whilst carrying out your business.
4. How much is liability insurance?
The cost of business insurance will depend on the size of the business you run, the type of work you conduct and the level of cover you choose as well as where the business is located and how long you’ve been trading. Policy addons such as tool insurance, cover for stock or personal accident cover will also influence overall price. Since every business is different, you’ll need to compare tailored quotes in order to properly evaluate costs.
5. Will I need liability insurance if I’m self-employed?
As a sole trader or freelancer, you won’t be required to have liability insurance by law, as long as you work alone. If you have employees however, you’ll need employers’ liability insurance as a minimum. Most small business owners see insurance as an essential and will opt to protect themselves against the unknown. If customers regularly visit your premises, or if you work on theirs, having some public liability insurance in place is highly recommended.
6. Is liability insurance compulsory?
If you employ one of more staff, you’ll be required to have employers’ liability insurance under UK employment law. Other business insurance is optional but is generally seen as essential by most business owners.
7. Is it compulsory to have employers’ liability insurance?
Yes. If you have one or more employee, UK law requires you to have employers’ liability cover.