Accidents happen, things go wrong – but they don’t have to cost you
Don’t let life’s unpredictability get in your way
Smarter Business can empower your business with personalised risk advice and tailored business insurance policies to protect your business and ensure business continuity.
Get your no-obligation business insurance quote and safeguard your business today.
Types of insurance
Business property insurance
Covering damage to your business premises and its contents.
Public and products liability insurance
Protect yourself where you are liable for injury and loss to the public and their property. Cover includes compensation and legal fees.
Employers liability insurance
Get the assurance that your employees – and you – are covered for accidents in the workplace, with cover for compensation and legal fees.
Business interruption insurance
Operational downtime costs your business money. Get cover for loss of income or additional expenses following a loss.
Director and officers liability insurance
With a strict duty of care lying with business leaders, protect your business assets from both founded and unfounded claims for wrongful acts and decisions.
Professional indemnity insurance
Often a contractual requirement, insure yourself against claims of third parties for negligence and associated legal costs.
Contractors All Risk insurance
Get an umbrella of cover protecting you for different items under contract works.
A standard exclusion, this peril can be added to extend Property Insurance and Business Interruption, even on All Risk policies.
Cyber and crime insurance
A very real threat to businesses of all sizes, cover yourself for hefty data breach costs and loss of income associated with hacking and cyber incidents.
Cyber insurance quotes
Cover yourself for financial loss resulting from fraud, dishonesty, and malicious acts suffered by your business.
- What is Business Insurance?
- Do I Need Business Insurance?
- What Insurance Do I Need for My Business?
- Why Use a Business Insurance Broker?
What is business insurance?
Business insurance protects your business from losses that could be incurred during the normal course of your business operations.
What does business insurance cover?
Business insurance can cover a wide range of eventualities. Some are more common; other bespoke types of insurance can be tailored to your business’ specific needs and risks. How much does business insurance cost? The cost of your business insurance is holly dependent on the type and level of coverage you need. It also depends on the type of business you run (what are the levels of risk).
What are the different types of business insurance?
There are numerous types of insurance for businesses. Broadly speaking, the different types of business insurance cover property or asset damage, employee-related risks and legal liability (including third party insurance).
Why do I need business insurance?
Essentially, business insurance helps to ensure business continuity and can even prevent your business from going under should risks emerge. And any business that has any employees – whether contractors, temporary or permanent employees – needs to have employers’ liability insurance at the very least. Neglecting to do this means that your business is liable to be fined for every day it goes uncovered. Other reasons to get business insurance: Some businesses may want you to have public liability insurance and/or professional indemnity insurance in place before they’ll agree to work with you.
Do small businesses need business insurance?
It is often especially important for small businesses to carefully evaluate and consider their business insurance needs as they may have more personal financial exposure should a loss or incident occur.
Do self-employed people need business insurance?
If you offer advice or professional specialist services as a self-employed person, then you’ll most likely need professional indemnity insurance. And if there’s a risk of someone being injured or their property becoming damaged because of your work, then you’ll need to consider getting public liability insurance. Remember that self-employed business people should be able to claim for all business insurance costs as a business expense.
Is it compulsory to have business insurance?
Certain types of insurance are compulsory under certain circumstances:
- Professional indemnity insurance – can be compulsory if you work in a recognised profession such as accountancy, architecture, law, or financial services.
- Employers’ liability insurance – compulsory if you employ people.
Did you know? Your business could face a fine of £2,500 for every day you aren’t properly insured with employer’s liability insurance. The minimum level of protection is £5 million. Professional indemnity insurance – can be compulsory if you work as a consultant, contractor, freelancer, private doctor, tutor or personal trainer.
What business insurance do I need?
There are many types of business insurance that cover different aspects of your business operations. The type, scope and extent of your business insurance depend on your business’ size, the kind of work you do and your unique business needs.
You need to evaluate your insurance needs based on potential risks, which can vary depending on the type of environment in which the company operates. You can then choose whether to take out a combined business insurance package or choose independent liability covers and then add on any extra protection that you need.
What types of business liability insurance are available?
Some of the types of liability insurance your business can consider:
- Public liability insurance – protecting you if a member of the public makes a claim against your business.
What types of business insurance does Smarter Business offer?
- Business property insurance
- Employers liability insurance
- Director and officers liability insurance Contractors
- All Risk insurance
- Cyber and crime insurance
- Public and products liability insurance
- Business interruption insurance
- Professional indemnity insurance
- Terrorism insurance
The benefits of using a business insurance broker
A business insurance broker will be able to help your business identify the kind of business insurance that you need. Taking your unique business requirements into account, they can also help put together a bespoke insurance package that combines different types of insurance to offer you more comprehensive cover.
What industries does Smarter Business insurance cover?
We provide business insurance cover and business insurance quotes to the following sectors, as well as additional bespoke cover as required:
- Hospitality – hotels, restaurants, and pubs
- Contractors and tradesmen
- Property owners
- Wholesale and distribution
- Travel and tour operators
- Particular trade sectors requiring bespoke additional cover
Why use Smarter Business Insurance?
- Partner with the business insurance specialists for a comprehensive commercial insurance strategy
- We take the time to understand the types of business insurance you need and why
- Get advice suited to your business requirements
- Full-market access and expert analysis
- Single point of contact and in-depth understanding of your business needs
Smarter Business is an introducer-appointed representative of James Hallam Insurance Brokers which is a Trading name of James Hallam Ltd. James Hallam Limited is authorised and regulated by the Financial Conduct Authority FRN 134435.