Types Of Insurance You Need To Protect Your Business

As a small business owner, limiting risk and ensuring business continuity should be your main priority. One of the major reasons a business will collapse is a result of bankruptcy, and threat of legal action can be a major cause of this.

Business insurance protection

In order to minimise the risk of bankruptcy in regards to this avenue, you should ensure that your business is protected at all times. Opting for a number of different types of insurance as soon as you start your business should be a top consideration.

Here, we’re taking a look at the types of insurance you should have in order to protect your business.

Public Liability Insurance

This particular type of insurance is one of the most commonly sought after by businesses. Public Liability insurance will protect businesses in the event that a member of the public is injured as a result of your work, or if a property is damaged.

There are some businesses which may require this more than others – such as building firms and cleaning businesses. For example, a cleaning firm may opt for specific cleaner insurance in order to ensure that if a member of the public slips on a wet floor, or furnishings are damaged as a result of the cleaning chemicals used, the business will be protected.

Every business in all industries are likely to require the protection offered by Public Liability insurance and as a result, every start-up should make this a top consideration.

Employer’s Liability Insurance

This type of insurance is actually a legal requirement, if your business hires employees. If an employee makes a claim against your business after sustaining an injury or falling ill, which is caused by the work they are carrying out for your business, then your business can be protected.

Employer’s Liability insurance will help you to pay out any compensation where relevant. However, there are some instances where you may not require it, such as if you are employing a family member, or if the person you have hired is based abroad.

There are numerous fines which you may face if you are not properly insured as an employer, so it is important to make this one of your first priorities.

Tools In Transit Cover

This type of insurance can help to cover the repair or replacement of any tools or equipment which becomes damaged, lost or stolen while being stored in the vehicle you are using for work – as long as this vehicle is properly insured. Some types of cover under this category can also cover your tools even if they are left in the van overnight, in some circumstances, such as if you are working away from the office, or the project you are undertaking is set to take more than one day.

There are numerous levels of cover you can choose from with this, and different businesses are likely to have different requirements for Tools In Transit cover.


As you can see, there are numerous different options that you can choose from when looking for insurance for your business. While some types of cover are legal requirement, and others which are vital for your business no matter the industry, making sure you choose the most appropriate type of insurance will help to not only minimise risk, but can also help to deem your business as trustworthy.


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