Business Insurance and Commercial Insurance is essential for protecting your business and employees against risk. The proper protection can cover you against losses if things go wrong while carrying out your business activities.
We are delighted to be working in partnership with one of the largest independent business insurance brokers in the UK.
Their client base ranges from premiums of a few hundred pounds to many hundreds of thousands. Our provider can provide business insurance to firms of all sizes, from sole traders to large multinationals.
Working with our broker, you will gain from their breadth of knowledge, the spread of offices and experience, regardless of your industry.
What Is Business Insurance?
Business insurance covers your business and employees from unexpected losses or damages, for example, if your tools are stolen, premises are broken into, and there are damages, a mistake happens, and your client decides to take legal action and sue for compensation, staff liabilities and more.
Business owners, the self-employed, consultants and freelancers need to factor certain risks in your daily work.
Depending on your profession, you may need public liability insurance, professional indemnity insurance, contents insurance, or other cover types.
We offer business insurance for hundreds of different trades and services. Contact Us to check how we can help protect your company and reduce your business insurance expenses.
What Insurance Services Are Available?
We have business insurance that can cover:
- Commercial Insurance
- Business interruption
- Legal liabilities
- Marine / cargo
- Motor fleets of any size
- Engineering inspection contracts
- Directors’ & Officers’ Liability
- Professional Indemnity
- Personal lines, such as household and private cars
- Employee benefits and also employee assistance programme, group pensions, etc
- High Net Worth services for the individual, such as investments, fine art and valuables, pleasure craft
- Financial Services, such as individual pensions and mortgages, tax planning
- Commercial Finance for asset and property acquisition, invoice finance, vehicle finance (such as sale & lease-back)
- Banking Consultancy.
Whatever your needs, we aim to understand your needs and both ensure and advise to protect your business and employees against risk.
Types Of Business Insurance Cover
There are different types of business insurance, and not all business insurance policies will give you the right cover.
As a business owner, you need to know the differences between insurance policies, how they affect your business and what is covered.
Cyber insurance will protect the business and your customers against internet risks such as data destruction, extortion, information theft, hacking and denial of service (DOS) attacks. Our GDPR Tax Credits has the protection of Data Guards Man that Hiscox Insurance Brokers cover.
Employers Liability Insurance is a legal requirement for employees – even if you have temporary staff. The insurance policy protects you against the cost of compensation claims should a staff member get injured or ill through working for you. If you do not have employers liability insurance in place, you could be fined £2,500 every day you are not adequately insured. Your policy must cover the business for at least £5 million.
Business Interruption insurance could help compensate you for financial losses caused when your business cannot operate as usual. The insurance would cover essential works your landlord or utility provider may have to carry out to your premises.
Financial protection if your business activities kill or injure a member of the public or damage their property. If the injured party takes you to court, the policy will cover your legal costs and any compensation you might be liable to pay. Some clients may insist on seeing a copy of your public liability insurance before they work with you.
Professional Indemnity insurance is not a legal requirement, but other businesses may want your business to have the insurance before you start working with them. Professional indemnity insurance provides cover if a client says you have given bad advice or that your work has caused a problem and decides to take legal action.
Buildings and contents insurance would cover your premises and stock against flood, theft and fire.
Credit Risk insurance insures the business against the risk that a customer is not paying their bill.
Keyman insurance is cover for someone essential to your business running should they not work for you due to health or other conditions. Keyman insurance will compensate you against loss.
Landlord insurance will protect the landlord if the rental property is damaged, the tenant cannot pay their rent, or there is a fire in the property. You can also include protection against loss of earnings due to an insured event, such as a flood or fire damage.
Vehicle insurance is essential for any business with vehicles. There are different types of vehicle insurance available to cover individuals or any staff that may have access to the vehicle.
Which Industry Sectors Do You Cover?
Exclusive and bespoke schemes and facilities have been developed in many areas, and for certain industry sectors, and these can be tailored to your own needs and circumstances.
Industry sectors range from:
- Contractors / Consultants
- Transportation/ Fleet/ Vehicles
- Health Care
- Internet-based businesses
- Computing / IT
- Sports & Leisure
- Waste Management and Recycling
- + Many other sectors and industries
Why Choose Business Bank UK For Business Insurance?
Our insurance brokers have won numerous industry awards, have access to the entire insurance market, nationwide offices and substantial negotiating power. Your business insurance is in safe hands.
Our brokers use their purchasing power within the insurance market, including Lloyds of London. They have access to many schemes and facilities exclusive to themselves and therefore not available in the conventional open market, including pricing and covers with enhanced benefits for you.
Take action to reduce your business insurance premiums – Contact Us