Starting your own business and setting up as a limited company comes with a range of administrative requirements. While it can seem laborious, the time you put in to begin with saves you time and potentially money later. This is especially true of your limited company insurance. Without the right insurance in place you risk your business’ financial safety.

Here we’re looking at the types of cover you should have as a minimum when arranging your limited company insurance.

Employers’ Liability Insurance

In the UK, employers’ liability insurance is the only mandatory kind of cover, required by law. This is only the case if you employ others, but most businesses have at least one employee. As the director of a limited company your employees health and safety is your responsibility. If they should be injured or fall ill due to their work for you, they may choose to make a claim against your company. With employers’ liability insurance in place you have financial protection should the claim be successful, and it will also cover your legal fees.

Public Liability Insurance

Public liability insurance gives you a safeguard against claims made by third parties, such as clients or members of the public. It provides your business with cover against claims made for accidental injury or damage to property due to your business activities. It is almost invaluable if your business is people-facing and if you deal with the general public on any basis.

Professional Indemnity Insurance

Professional indemnity insurance covers the financial costs of defending a claim against your company. This type of claim will tend to be relating to advice you may have given which has led to problems for the client. It may also relate to mistakes made, loss of documents or data and issues such as copyright breach.

Limited Company Insurance with Just Quote Me

We work with many businesses helping to find the right insurance for their needs. Just Quote Me can offer quotes from a range of providers, giving you choice for your cover. Contact us today to look more closely at your small business insurance options