Whether you’re a hairdresser, tradesman or dentist, we understand that your small business is your pride and joy – so having the right insurance in place is essential to protect your business, staff and members of the public.
As leading broker in the UK, we can provide all types of insurance and liability cover for small business owners including:
With over £4.2 million small businesses in the UK, it is defined as a company with less than 50 employees and a turnover that is under £6.5 million. (Source: Companies Act 2006)
In the event that an accident occurs, whether it’s an injury to an employee or there is a fire, flood or theft on the premises, your insurance will help you cover the costs so you can get back on your feet.
We never know when an accident is going to happen that will affect the day-to-day running of our business but having cover in place allows you to reduce the risks involved.
Without insurance, there could be huge costs associated with paying compensation bills, replacing equipment or repairing a property. The financial implications of an accident could lead to staff layoffs, loss of profit or even going out of business.
Not only is it a great financial risk for small businesses to be without insurance, it is also a legal requirement. Small companies can be fined £2,500 per day for not having compulsory insurance in place to protect their employees.
For anyone that owns on office or shop, they need insurance to protect their premises from vandalism, fire or flood. If your business is located on a busy high street, you might be vulnerable to vandalism or a mishap, so you can get cover specifically for glass, signage, boarding up costs, display goods and fittings.
In the event that your stock or goods are stolen, your insurance can replace them up to the value of your policy. Provided that the items were not stolen due to negligence such as accidently leaving your property unlocked overnight, you should be able to claim for replacements as soon as possible, so there is no loss of revenue.
If you courier or transport items as part of your business, you can purchase cover for your vehicle in the event of theft, fire, flood or road accidents.
We appreciate that if you have one business vehicle or a fleet of cars, you cannot afford to have any downtime – so having insurance will cover any damages or repairs so you can be back on the road.
For any items that are damaged or stolen during transportation, you can protect these items in your policy and have them replaced by your insurer.
This is essential cover for any small business that gives professional advice to their customers. Common for lawyers, dentists and financial advisors, despite offering your best advice for the customer, it is possible that a procedure can go wrong or your advice can have a negative impact on the customer’s finances and wellbeing.
If the customer feels that your advice was not in their best interests, they may wish to take legal action. By having professional indemnity cover, your insurer may be able to pay towards your legal expenses and compensation to the client.
Public liability – If a member of the public is negatively affected by your business activity, they can press charges and demand compensation. For example, a customer slips on your wet floor and hurts their ankle. If the individual believes that the scenario could have been avoided, they have a strong case to ask the company to pay for medical bills and time off work. The insurers we feature can provide between £1 million and £5 million in public liability for small enterprises.
Product liability – If your business sells products to other supplies or to the general public, you could be held responsible for any harm or damage they cause. If your product is accidently unsafe or defected, your products liability will pay for any replacement stock or damages to the victims. Our partner companies can typically offer up to £2.5 million worth of cover for your products.
Employers’ liability – This is a legal requirement in the UK to ensure that employees are protected from their business activity. Whether staff members are subject to physical or emotional damages due to their work, they can demand compensation from their employer for medical bills, legal expenses and loss of income. Our insurance partners can offer up to £10 million worth of cover for small businesses.
If a staff member is attacked during a robbery, you can claim up to £10,000 if they are left permanently disabled and up to £100 per week until they recover from their injury.
Business Interruption - If your business cannot trade due to a robbery or damage to the building, you can claim from your insurance to pay for the revenue that you are missing out on.
Material Damage – For physical damage to the buildings and contents of your business, you can receive the following:
Loss of Money – If money is stolen from your business during a burglary, provided that you have recorded the amounts correctly, you can claim up to £5,000 for funds stolen on site or in transit.
At Be Wiser, we work with a number of leading insurers in the UK who are specialists at providing insurance for small businesses. By applying with a broker, you are able to review a number of competitive deals at once and get the best cover to suit your requirements. This is better than just applying with one company and being limited to their prices and cover options.
We are constantly looking at new policies and offers so we can get the best cover for our customers. We can offer additional ways to save you money on your premium such as boosting the security features on your premises or vehicles and paying higher voluntary excess.
We are based in Hampshire and our dedicated team is fully CII certified to take your calls and provide you with the best options. Simply give us a call today on 0333 999 0802 for a free and no obligation quotation.