Business Insurance

Running a business can be tough. You’ve got a lot of responsibilities and obligations to uphold, and plenty of financial issues that need to be dealt with if you want to be operating safely and legally. Business insurance is an essential consideration and should always be invested in before you start trading, so it’s important to have a thorough understanding of what’s involved.

There are two distinct types of insurance that you’ll want to consider in this field, namely public liability insurance and employers’ liability insurance. These types of cover tend to come in a joint policy but your need for each will vary according to your individual requirements, so here’s a quick overview to help.

Public liability insurance. As the name suggests, this type of insurance offers valuable financial protection when dealing with the public. It provides cover if you have to pay compensation to a client, contractor or individual due to property damage or accidental injury, and could be required if (for example) someone suffers an injury when on your premises or if your employees damage property when at a client’s office.

Employers’ liability insurance. This type of cover deals with your employees themselves. When you hire someone you’re responsible for their health and safety when in the workplace, and if they suffer an accident or claim physical or mental illness then you’ll be responsible for any compensation claims they make.

Both of these types of insurance provide valuable assistance should someone make a claim against you, ensuring you don’t have to pay any compensation out of your own pocket. Considering the cost of many claims you’d be well-advised to invest in an appropriate level of cover, and with many insurers offering policies for small, medium and large businesses it’s worth researching accordingly.

The price of your premiums will always depend on the level of protection you need, the size of your business and the limits of your cover, so make sure to discuss your individual requirements with your potential insurer if you want to have adequate protection.

With public and employers’ liability insurance you can be confident that your business is operating safely and legally with your financial interests at heart. (You might also want to consider professional indemnity insurance as an addition, but that’s another story.) With adequate business insurance you can be confident that everything is operating as it should be and that any claims made against you will be covered, allowing you to focus on the more important things – running your business.

Speak Your Mind is owned by Mediamash (NI) Limited, who are an Introducer Appointed Representative of Seopa Ltd. The quote system is owned and operated by Seopa Ltd, who are authorised and regulated by the FCA, number 313860. You can view our registration at We do not give financial advice on this website. If in doubt get professional advice and always read the policy information before purchasing an insurance contract.