If you’re already running your own business or thinking of starting out on your own, getting the right insurance should be high on your list of priorities.

Business insurance can help cover the cost of legal action, and loss or damage to your equipment.

According to Government statistics there are more than 5 million small businesses in the UK.

That’s over 99% of all businesses. And almost half of them don’t have insurance.

If you don’t get the right cover for your business, it can be difficult to recover from the financial impact of a large compensation claim.

No matter how careful you are things can go wrong when you least expect it, and you need to make sure your business can cope.

Cover for unexpected costs

If a client or a member of the public is injured because of your business activities, they could make a compensation claim against you that could lead to legal action.

This could be a big problem for your business if you don’t have the correct insurance in place.

Public Liability Insurance covers you for these types of claims and ensures your business can cover the cost of expensive legal proceedings.

Look after your staff

If one of your employees has an accident at work, they could make a claim against you.

This could also lead to legal action, and you may have to cover their medical expenses.

You can plan for claims like this by making sure you have Employers’ Liability Insurance.

Looking after your tools and equipment

 If you run your own business, it’s likely that you’ll have some specialist tools or equipment that you use every day.

If any of your gear is stolen or damaged, it can sometimes make it difficult to carry on with the work you need to do.

Most insurers offer cover for tools and business equipment, making it quicker and easier for you to get replacements and keep your business moving.

Secure your bricks and mortar

If you let a residential or commercial property, it’s important you cover your buildings and contents from damage or cover the cost of rehousing your tenants.  

Things like boilers, furniture, and floor coverings can be expensive to replace.

If you own commercial properties, Buildings Insurance is compulsory.

Whatever business you’re in, making sure you’re prepared for the unexpected could be one of the smartest decisions you make.