Business insurance

Business insurance is a type of cover that can protect UK firms against losses. It helps to safeguard small businesses against compensation claims and legal costs. Your policy can counter risks that come with business activity. It’s also known as commercial insurance.

With Hiscox, there are a few types to choose from. They can help small businesses like limited companies and sole traders. 

The major insurance types include: 

• Professional indemnity insurance
• Public liability insurance
• Employers’ liability insurance
• Cyber insurance
• Property insurance, such as business contents.

Tailored business insurance policies can prepare you for the unexpected. For example, data loss, compensation claims or specialist equipment damage. 

The right cover can help to manage costs. Sometimes, there’s also hands-on support.

Business insurance is available for any company that provides a service. If this is you, there might be a risk of claims and lawsuits.

Some industry bodies also set out insurance requirements.

You might need business insurance in the UK if you are a:

• Limited company
• Self-employed professional
• Start-up
• Sole trader
• Freelancer
• Home business
• Micro business
• Small to medium-sized enterprise (SME).

You could be a firm with a 100-strong headcount, or a team of one. A part-timer, or a family business.
 

When judging your business insurance needs, think about:

Laws and contracts

UK companies that employ staff may need to have employers’ liability insurance. The rules are set out in law.

Other policies, such as public liability, offer extra reassurance. At times, a contract or council may ask for them.

Business risks

You may find your business needs insurance to deal with the unexpected. For example:

• Slips and trips
• Workplace illness
• Service complaints
• Negligence claims
• Office theft
• Flooding
• Hacking events
• Breaking copyright.

Even if you aren’t at fault, costs can add up. For example, you may need to cover legal fees.
A business insurance policy can offer support.

Hiscox is rated 4.8/5 on Feefo. This comes from real customer reviews in the past year. In all, we have 3608 reviews.

Hiscox offers specialist insurance to a wide range of industry sectors. We cover over 400,000 businesses* in the UK.

Do you trade with tools? Maybe you provide specialist services. Our business insurance can support many UK firms.

Plumbers and carpenters can benefit from our products. As can software developers and marketing and media agencies.

We even create customised small business insurance for specialist areas. This applies to: 

• Environmental consultants
• Education and training businesses
• Advertising and creative professionals.

*based on the number of policies sold in 2023.

Professional indemnity

Professional indemnity insurance is there to help if you have been negligent. Or if you’re simply accused of it. It can step in if a client believes you got something wrong that lost them money. We’ll be there to help with damages and legal fees so you can focus on running your business.

Learn more about professional indemnity insurance.
 

Public liability

This helps protect your business if someone claims you caused property damage. It can also help with claims from the public of illness or injury because of your work. Whatever you do for a living, accidents happen. If a customer or courier makes a claim, this insurance policy covers court fees and damages.

Learn more about public liability insurance.
 

Product liabilityYou can buy product liability insurance with your public liability cover. This supports your business if a product causes injury, illness or damage. Insurance can help if you design, produce, make, repair, alter or supply a product.

Learn more about product liability insurance.
 

Employers’ liability

This may be a requirement under UK law. It protects you if an employee is injured on your premises. Or if they become ill and say it’s because of work. You might need cover for full-time employees, part-time staff, volunteers and helpers. This policy helps with the costs of defending or settling a legal claim. 

Learn more about employers’ liability insurance.
 

Cyber and data

If you’re hacked, it can cost money to put things right. That’s what our cyber cover is for. It can also help with data breaches and crime. Some firms can add optional cyber business interruption insurance. Depending on your turnover, this may help with costs if your business can't run because of a cyber event.

Learn more about cyber insurance.
 

Personal accident

In a micro-business, you might not have a rainy-day fund. In a start-up, you may rely on key people. That’s where personal accident insurance can help. If you or a named employee can’t work due to an accidental injury, we’ll provide up to £250 per week. If a serious accident affects your livelihood, this type of cover can pay a lump sum. 

Learn more about personal accident insurance.

Hiscox can also provide covers such as: 

• Legal protection insurance 
• Management liability insurance
• Business contents insurance
• Commercial property insurance
• Property away and in transit insurance
• Equipment breakdown insurance
• Professional, treatment and public liability insurance
• Business interruption insurance

Taking out specialist insurance may be a good idea in some fields. Find out more about what we cover.

Inclusions and exclusions vary by product type. See your policy documents for full details.

Ready to learn more? Speak to our customer services team for further policy details.

You can contact us:

• By phone
• By live chat.

Why choose Hiscox? Because when things go wrong, we put them right. 

We’re the small business insurance experts. We know how hard you work to build your business. And we help you protect your good name.

Innovation and service are central to what we do, as seen with our CyberClear Academy. 

We provide an award-winning service too. We’re proud winners of the Feefo Platinum Trusted Service Award in 2023. This independent seal of excellence comes from real customers.

With Hiscox business insurance, you get a:

• Range of cover limits 
• Specialist claims team on hand.

Thanks to all this, you can rest assured you’ve got the right cover in place. But don’t just take our word for it – check out our reviews and ratings on Feefo (external link).

View our business insurance reviews page to see how our customers feel about working with us. 

We know that with the right insurance, your business can flourish. Even when there’s a challenge. 

Get an online business insurance quote. Find out how Hiscox commercial cover can keep your empire healthy.

Have a question? There are a range of ways to contact us for business insurance guidance.