Business insurance is coverage that protects businesses from losses due to events that may occur in the normal course of business. In this article, you will learn about business insurance along with comparisons to find the best option for your business.
Business insurance
What is a business insurance?
Business insurance is coverage that protects businesses from losses due to events that may occur in the normal course of business.
What insurance do you need for a business?
There are several useful insurances that you should consider when starting a business. They include:
- Public liability insurance – If a member of the public injures themselves, or makes a claim against your business
- Product liability insurance – If you’re a manufacturer and a customer makes a claim against a faulty product that was made
- Employers liability insurance – If a member of your staff injures themselves, or makes a claim
- Professional indemnity – If it’s been alleged that you have provided inadequate advice, services or designs to a customer.
For taxis, please see Taxi insurance
What is small business insurance?
Small business insurance is a collection of insurance products aimed at business owners. Some examples, mentioned above in more detail, include: Public liability insurance, Product liability insurance, Employers liability insurance, Professional indemnity and Shop insurance.
What does business use car insurance cover?
Business car insurance is not like a standard car insurance policy, which covers social use and commuting. Business car insurance has a wide range of uses, including traveling between work locations, visiting customers, and driving around other employees. Basically, anything on behalf of the business.
Most business car insurance policies fall into these categories:
- Business use by you – This policy will cover the main driver, and to drive in connection with their business
- Business use for all drivers – This policy will cover more than one driver, and to drive in connection with the business
- Commercial travelling policies – This policy covers people who drive as a permanent part of their job
Cheap business insurance: Compare quotes and the market
The easiest way to get cheap business insurance is to use one of the many online comparing services. We have listed some of the major players below:
Business insurance at Go Compare
Go Compare is price comparison platform for insurance, travel and other products.
Read more: Go Compare
How much is business insurance in the UK?
The cost of business insurance depends on many factors, including the nature of your business, the type of insurance you need, and the cover levels.
Since there is everything ranging from small to large businesses, it’s hard to place an average on the cost. Costs will vary depending on the specific risk of the business.
How much does it cost for commercial insurance?
As mentioned above, the cost of commercial insurance depends on several factors. This includes the nature of your work, the type of insurance or insurances you need, and the cover levels.
Costs will vary depending on the specific risk of the business.
How much is a business insurance for vans?
The costs for business van insurance is similar to other car insurance factors, but business van insurance can have extra costs. Some of the factors that determine the cost include: the type of van, any security features, whose driving the van (and any other additional drivers), the driver(s) history, how far it’s driven each year, and where it stays overnight. Additionally, you may want to consider van breakdown cover in case of emergencies if the van would break down on the road.
For these reasons, it’s important to compare different business van insurance options available.
If you do use a van for your business, make sure to get it insured. According to the Continuous Insurance Enforcement (CIE), it is against the law for registered vehicle keepers to not have insurance.
How do I buy business insurance?
For purchasing business insurance, it’s good to compare quotes online to find the best match for your business. Look for package policies that may allow discounts for specific businesses. Additionally, be sure to work with an agent who is experienced and knowledgeable in commercial coverage.
References
http://www.investopedia.com/terms/b/business-insurance.asp
https://www.moneysupermarket.com/business-insurance/guide/
https://www.confused.com/small-business-insurance
https://www.confused.com/motor-insurance/get-covered/business-car-insurance
https://www.moneysupermarket.com/van-insurance/business-van/
https://www.trustedchoice.com/business-insurance/compare-coverage/cost/
