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.