Business insurance for startups

Public liability covers you if you accidentally damage a client’s property or someone injures themselves on your premises. An example of this could be a member of the public tripping on your laptop lead while you’re meeting with a client. If they make a claim against you, public liability insurance would cover your costs.

Product liability covers you if a member of the public becomes ill or suffers an injury as a result of one of the products you sell. For example, if a customer ate one of your brownies and became ill, or a chair you made breaks whilst being sat on and that person is injured as a result.

We can offer cover from £1 million to £10 million, subject to criteria.

If there is an insured event such as a flood or fire at your work premises and the workspace becomes damaged, buildings insurance will help you recover your costs for repairs or reinstatement, including debris removal and architect fees.

We also include equipment breakdown (for items forming part of the buildings), as standard. So if your boiler or fire or burglar alarm breaks down, we will pay for the costs of the repairs or replacement, as long as the damage is not due to wear and tear.

You can build your startup from anywhere: at home, an office, your shop, your client's premises or in a shared working space. However, if something happens and you can’t trade, business interruption will ensure you don't lose money.

If there is an insured event such as fire or flood in your home, office or shop, and you've insured the premises, then business interruption will pick up the costs of setting up somewhere else, and for turnover lost when you couldn't trade.

You'd also be covered if you work from someone else's premises. If your normal place of work has to close, for example due to a fire or flood, we'll cover the costs of setting up elsewhere.

Our business interruption cover can insure you if you or one of your key employees becomes seriously disabled and is unable to continue work. We will cover the incurred costs, up to £25,000, to minimise any interruption to the business.

If your startup works on a cash-in-hand basis, for example if you sell your work at industry shows, this policy will cover you in case of theft of money from you or anyone working for you, whether that's at your premises or at fairs and shows.

We cover up to £1,000 of takings at markets and pop-ups, provided the cash is securely locked away when not completing a transaction and not left unattended. You must also keep copies of all receipts issued to your customers.