See Our Small Business Insurance Providers

It’s all too easy to let small business insurance take a backseat when you’re taking on the various responsibilities of entrepreneurship. Like any type of insurance, the hope is that you’ll never need to use it. But taking out insurance for a small business is an important part of your journey, to protect you against the uncertainty and risk that comes with the job.

With BSC, you can browse our marketplace to find the right small business insurance provider for your needs. As a supplier discovery platform, we match startups with reputable insurance providers. With the right cover, you’ll have the peace of mind that should disaster strike, the support is there to get you back on your feet.

Explore Our Marketplace

What type of insurance do you need for your small business?

As a small business owner, you’re only legally required to have one type of small business insurance: employers’ liability insurance. This covers your business should an employee claim they’ve suffered illness or injury while working for you. With employers’ liability insurance, any legal and compensation costs will be taken care of. You must take out this type of insurance - without it, you can be fined £2,500 for every day you’re not insured. Not worth the risk, is it?

But there are several other types of insurance you may consider taking out, which you’ll find in our marketplace. While not a legal requirement, they can help you mitigate risk, keep your business afloat and protect your reputation.

Public Liability Insurance

Public liability insurance protects you and your business should a member of the public make a claim against you. Let’s say a member of your team accidentally damaged a member of the public’s property or caused an accidental injury - without public liability insurance, you could face expensive legal fees and compensation costs. Some clients or suppliers may ask you to have public liability insurance as a condition of working with them, so it may be more important than you think.

It’s easy to think that insurance is a waste of money, but accidents do happen. You’ll be grateful you have your policy to rely on should the unexpected happen and you need some support.

Professional Indemnity Insurance

If your business offers a professional service or advice, you may want to take out professional indemnity insurance. Your policy will cover you if you make a mistake or a client suffers (or claims to have suffered) a financial loss because of your work. Your insurance will cover the legal or compensation costs, should your client or supplier make a claim.

Directors’ and Officers’ Liability Insurance

As a business founder or director, taking out directors’ and officers’ liability insurance could protect you as an individual who has management responsibility. You’ll be covered if any claims are made against you personally. Having a claim made against you is serious, you could receive a fine or in the worst-case scenario, a prison sentence. Directors’ and officers’ liability will cover you for any legal fees or compensation costs. Be sure to compare policies to find an insurer who will cover you for insolvency, as many policies won’t.

Why is startup insurance important and what does it cover?

Startup insurance is a type of insurance designed to protect new businesses. Your startup insurance policy is likely to address the unique risks and challenges that you may face as a new business owner, to mitigate the risk and liabilities that come with starting a business.

Business insurance for a small business can…

Mitigate
Risk

You’ll have your insurance policy to fall back on should you face an unforeseen event that may lead to significant losses as a business. This can provide financial protection and peace of mind.

Remain Compliant

You’re legally required to have employers’ liability insurance as a startup, so the sooner you’re covered, the quicker you’ll be compliant with legal obligations.

Improve Credibility

Taking out business insurance could enhance your credibility and reputation, by showing a commitment to risk management.

Support Growth

As your business grows, you have more to lose. Having a policy you can rely on lets you focus on growing your enterprise without the worry of what could go wrong

How do you get small business insurance through BSC?

Browse our business marketplace, home to a range of vetted and reliable small business insurance providers, including Beesure and HSJ. To tick all the boxes, you may prefer to choose one of our packages - an all-in-one bundle that meets your insurance needs. You’ll have the reassurance that should the worst happen, you’ll have a helping hand there to put wrong to right.

Comparing
Business Insurance

It’s easy to assume that using a price comparison site will get you the best deal on your business insurance, but this isn’t always the case. Not all business insurance providers are listed on those big-name sites, and going directly to the insurer can often get you a better deal. With BSC, you can interact directly with your chosen supplier, negotiate prices and walk away with a policy and price that you’re happy with.