How To Choose The Right Business Insurance For Your Small Business


How To Choose The Right Business Insurance For Your Small Business


All small business owners know that having the right level of insurance in place is essential. Doing this will provide financial protection for any claims made against your business, either from the public or clients. It will also give cover against unexpected events that could otherwise prove disastrous.

One question that you may struggle with is ‘how to insure my small business?’ While this may seem obvious, the various types of business insurance around makes for plenty of choice – and careful thought. It is vital to understand the various insurance types and choose the most suitable ones.

What Are The Different Types Of Business Insurance?

The exact type of business insurance you need will depend on what type of business you own. For example, claims from the public, your staff, and protecting your buildings or contents are all covered by separate policies. From sole traders to larger businesses, these are some of the most popular around to consider.

1. Public Liability Insurance

Small business Public Liability Insurance is a key piece of cover for any business that interacts personally with clients or the public. It essentially gives you protection against any claims relating to injury or damage to property that you or your staff may have caused them, for which you are legally liable. This can be something that happens on your own work premises or when you are working at someone’s else’s premises.


2. Employer’s Liability Insurance

The next business insurance you may need is Employer’s Liability Insurance. If you employ staff, then this is a legal requirement which helps to protect them when at work. Of course, it also keeps your business safe from claims made by staff for injury or illness they experience as part of their job.


3. Buildings & Contents Insurance

If you have business premises or keep key equipment or stock on-site, then this policy is crucial to protecting all of this from disasters such as flooding or fire. These unforeseen occurrences can prove crippling to recover from without insurance due to the high costs involved.


4. Professional Indemnity Cover

If your business offers a service that provides advice to other organisations, this is worth taking out. It basically protects you from any claims made against advice, designs or specifications that you have given to other organisations.


How Much Does It Cost To Insure A Small Business?

Of course, as a business owner, the big question you may have is ‘how much is business insurance for a small business?’ In truth, it is hard to give a general answer to this as what you pay will depend on the amount of cover you take out. You would usually pay per month for your small business insurance – as above, if you are wondering how much small business insurance costs per month, this is something you will only find out when you request a quote but it is often a lot less than you anticipate.


Think About Taking Customised Cover Out

For small business insurance, it can be a good idea to take out a customised set of policies or a bespoke small business combined insurance policy, such as those that Crowthorne Insurance offers. This will ensure that you get the exact cover you need to stay safe and only pay for the cover you need. Call Crowthorne Insurance on 01344 771626 or click here to make an online enquiry.

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