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How Much Does Business Insurance Cost?

How Much Does Business Insurance Cost?

Business insurance is essential for every type of business. It is usually an incredibly flexible policy that you can tailor to suit your business and its unique needs. However, many people forget about business insurance due to the perception that it is expensive. So, how much does business insurance cost?

The cost of Business Insurance

The cost of insurance will depend on the amount of coverage your business needs. As well as this, it depends on the different policies that you want to include in the overall policy. This means that business owners can control the cost of business insurance by building a unique policy with a range of different covers.

One essential aspect of business insurance is employers’ liability insurance. If your business employees any member of staff, then it is a legal requirement to have employers’ liability insurance in place.

Other aspects of the insurance are not a legal requirement but can still be incredibly beneficial include public liability insurance. This provides coverage to third-party individuals such as customers or contractors in the event of an injury or property damage as a result of your business.

Another popular option is to include professional indemnity insurance. This is particularly useful for business that offers advice to customers that could prove to be faulty. If your advice may cause financial loss to your customers, then having this protection means you can pay in the event of a claim against you.

The main factor that will affect the cost is the risk of your business. Small businesses with less risk will pay a much small price. Rather than a large business that comes with a great deal of risk. The best way to determine the cost of business insurance for your needs is to get in touch with Just Quote Me. You can discuss your individual needs and the team will explain the various premium costs depending on what level of cover you would like.

Do you have questions about Business Insurance?

Call Just Quote Me for FREE on 0800 084 2325 or get a quote online using our Quick Quote Form.

Business Insurance Quote Online

Business Insurance Quote Online

Get A Business Insurance Quote Online Today

As specialists in this sector, Just Quote Me asking the very simple question ‘What is business insurance?’ may seem a bit strange but it is a common query from new business owners. What’s more even some experienced owners aren’t entirely sure what it is and why they need it so here we’re looking more closely and fully answering the question: what is business insurance?

Business insurance protects companies against losses suffered in the day to day activities of their business. It is especially important should there be a compensation claim made against your company and it covers a range of different types of insurance usually.

Why do I need Business Insurance?

Most types of insurance are not compulsory. However, you need business insurance if you want your business to be protected against every day risks. It can cover everything from professional mistakes to accidents and theft and damage.

Also, some companies only work with others which have particular types of cover in place. If you want to secure bigger contracts and more clients, it is often prudent to ensure you’re insured. The only type of insurance which is a legal requirement is employers’ liability insurance. This is only the case if you have any staff at all.

However, you may also find that your industry regulatory body only accepts members with certain insurance covers too so investing in business insurance is a sensible move.

What type of Business Insurance Cover do I need?

As mentioned, if you have staff, it will be essential to have an employers’ liability policy in place. It is also common for most business insurance packages to include public liability insurance and also professional indemnity insurance. The latter is a particular good choice if your business deals with advice, client data or intellectual property.

At Just Quote Me we have worked with many businesses over the years. We work to ensure they have the level of cover they need at a price which is suitable for their business. If you would like to find out more and discuss your options, please call us today.

How much does Business Insurance Cost?

How much does Business Insurance Cost?

This question is a little like how long is a piece of string. Your business insurance cost will be highly dependent on the size of your business, the level of risk, the type of operations and many other factors. However, your business insurance cost doesn’t have to be something which goes over budget or gets out of hand.

Business insurance should be factored into your budget but you can easily find solutions and cover options tailored to your business at the price you have in mind. At Just Quote Me we work with businesses in many sectors, helping to secure and organise business insurance, at a price which works within their budget.

Business Insurance Quotes

The easiest way to find out the approximate cost of your business insurance is to get a range of quotes. Before this point you should have an approximate figure in mind that you plan to spend. This means you are ready to work with our insurance experts to find insurance which fits your requirements and your budget.

The amount you pay for your chosen business insurance is called a premium. This premium is calculated on a number of things including:

  • The nature of your business
  • The size of your contracts
  • The types of cover you choose
  • The cover levels you choose

Business insurers works on the basis of calculating how likely you are to make a claim against the insurance and how much this claim could cost. This in turn means that if you work in a high-risk business, you will have to accept that your premiums may be higher.

At Just Quote Me we appreciate that business owners want the best value and best quality in their business insurance. We will work with you to achieve this and you can find out more by contacting us today.