Whether you’re thinking of starting a small business, or are already running one, it's important to make sure that you're properly insured.
At Direct Line for Business, we understand that everyone’s insurance needs are different. That’s why we offer a range of insurance solutions for all types of small businesses and allow you to tailor cover to suit your needs.
So where should you start?
Telling the difference between types of business insurance available can be confusing for many start-up businesses.
However, the following guidelines should help you choose the right insurance plan for your business.
Do you provide professional advice or services to your clients?
If you do and your client feels that your advice was negligent and caused a financial loss or damage to their reputation then they could claim for compensation.
For contractors and freelancers - ranging from accountants to IT consultants - professional indemnity insurance could make a real difference if things go wrong, allowing you to work with more confidence.
Even sending an email containing confidential information to the wrong recipient could result in a civil case being brought against you.
Many clients, especially local authorities or large companies, will often request proof of professional indemnity insurance before they agree to work with you. So it's important to make sure that you're covered.
(10% of customers paid this price November 2015 - April 2016)
If you, a business partner, or an employee are responsible for an accident that causes injury, loss or damage to a customer - or a member of the public - you'll be covered under this type of insurance.
It's worth bearing in mind that small businesses falling into this category could include mobile hairdressers, tradespeople and tutors who work in customers' homes.
For small businesses that exhibit at craft fairs, summer fetes and Christmas markets, event organisers will often ask for proof of liability insurance before they agree to let you take part.
(New customers only. Cover on an equivalent basis to ours. Qualifying criteria apply)
It's a common misconception that if you're running a small business from home, your equipment and materials will be covered by your home insurance policy.
In most cases, however, this simply isn't true.
Whether you're making crafts, selling cakes or keeping stock at home, protecting your business requires specialist cover.
Cover for stock, equipment and loss of income is included as standard and you can rest easy knowing that you're protected against some of the most common business risks.
(60% of customers paid this or less November 2015 – April 2016)
And don't forget, we also do Van Insurance.