Every small business is different to the next, so a business insurance policy needs to be specific to the unique needs of every line of work. Comprehensive insurance will include protection for a range of legal liabilities, from employees and clients to your business premises.

The risks your business insures against should reflect your daily operations and responsibilities. Damage to your own equipment or that belonging to a third party could result in severe business interuption and delays to your work, or a public liability claim. Professional indemnity insurance is crucial to protect against claims of negligence or errors in your work. Employers' liability cover is required by law.

Of all the types of business insurance available as part of a full package, the core cover your business is most likely to need are the following:

Why do you need public liability insurance?

Your business needs public liability insurance if you’re in regular contact with members of the public. This type of cover will protect the business from the costs associated with compensation claims for injury or damage made by clients, customers or suppliers.

Examples of industries which Hiscox provide specialist cover to:

Why do you need employers’ liability insurance?

If your business employs staff, it’s likely that you are legally obliged to have some form of employers’ liability insurance. This will protect the business against compensation claims made by an employee, regarding injury, illness or damage as a result of their work.

Why do you need professional indemnity insurance?

If your business offers a professional service or advice to other businesses, indemnity insurance could be a sensible choice for you, or in the case of some professional bodies, legally required. This kind of cover will protect the business from legal costs and expenses incurred in your defence, if you were to make a professional mistake or alleged to have provided inadequate service.

Industries which are often required to have PI cover include:

Why do you need office insurance?

If you own the property that your business runs from, whether it be an office, a restaurant, a shop or even your home, office insurance is essential for covering any costs incurred by loss, damage or theft of the premises and its contents. If you work from home, you may want to check that your home insurance covers business property, as not all policies do. If you rent your business premises, it’s important to check with the landlord what is covered.

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Our guide to small business insurance

What business insurance do I need?