Small business insurance
Get a customised policy in less than 10 minutes, complete with all the cover you need to worry less about the risks and focus more on making your small business a roaring success.
What does small business insurance cover?
At Superscript, we understand that your small business is constantly shifting and the last thing you need is more to think about. That's why we make it easy for you to get the insurance you need, when you need it, by monthly subscription. So you can focus on your business, while we take care of the risks.
When getting a quote, you can pick and choose your level of cover, but as a small business you'll want to consider:
- Choose £1m, £2m, or £5m public liability cover
- Optional £10m employers' liability insurance
- Change or cancel any time, for no fee
- Tailor your cover to your specific needs
What insurance does a small business need?
Public liability insurance
Whether you operate from an office, studio or your own home, public liability should be top of your insurance agenda.
If someone has an accident, becomes ill or has their property damaged because of your business, it could lead to a costly lawsuit. Public liability insurance is designed to cover the legal or compensation costs, so your business doesn’t have to. It's not a legal requirement, but some clients will insist on you having it.
Employers' liability insurance
Employers' liability insurance is a legal requirement in the UK for any business with employees. It's there to protect your business against legal and compensation costs if an employee were to make a claim against you due to injury.
Professional indemnity insurance
If you offer a professional service or advice, professional indemnity insurance is something to seriously consider. It will cover your legal costs if you make a mistake, or if a client suffers a financial loss as a result of your work.
Office contents and equipment insurance
If you're reliant on equipment to do your work, contents and equipment cover covers the costs if something gets lost or damaged, so you can get back up and running without missing a beat. Not only can specialist machinery be costly to replace but laptops and phones are easily dropped or misplaced, so it's worth thinking about.
Although cyber insurance isn't a legal requirement, with GDPR regulations in force, a data breach could land you with a fine of €20m or 4% of annual turnover – whichever is higher - and a PR disaster. If you have a data breach, our cyber insurance can cover GDPR regulatory penalties, where insurable by law.
Directors & officers insurance
Although optional, directors & officers insurance (D&O insurance), also known as management liability insurance, can be a good idea. It covers those with management responsibilities for claims against them personally, including breaching health and safety laws, misrepresentations in a pitch deck, or errors in financial reporting. Penalities for these can range from fines, being struck off as a director or even a prison sentence.
Once you've completed a quote, you'll be able to view a summary of cover. Please always refer to your policy documents for full details around exclusions, terms and limits of your customised cover. Read our guide to understanding your policy documents.
Be quote confident
We're big on fairness. So if you find a lower price for a comparable quote, we won't just match it – we'll go one better and beat it.
So even better than apples to apples, apples to better apples. We're talking Galas to Braeburns.
As you'd expect, T&Cs apply.
Small business insurance claims
Insurance claims are different for every type of small business, but here are a few examples of claims where your business could be liable:
A customer in your business premises slips on a wet floor and injures themself, even though you put a wet floor sign down. Public liability insurance could cover the legal and compensation costs.
An employee is walking back to their desk and trips over a loose piece of carpet, breaking their arm. If the employee makes a claim, employers' liability insurance could cover the legal and compensation costs.
Mistakes in your work
A mistake has been found in a report that you created on for a client and needs to be re-done, causing a delay in the project and an extra expense to the client. Professional indemnity insurance could cover the costs.
Customers’ credit card details are stolen
Your payment card system is hacked and customers’ card details are stolen. Cyber insurance would cover the legal and compensation costs, including any fines for PCI DSS non-compliance.
We offer business insurance to over 1000 types of small businesses
From shop owners and builders to barbers and photographers, we insure a wide range of small businesses to protect them from a variety of risks and exposures.
While most of the covers included in small business insurance are not required by law, they can be crucial to help protect many businesses from unexpected expenses.
To see if we offer flexible insurance for your particular craft, simply click ‘Start your quote’.
How do claims work?
You make a claim
Log in to your online account and go to the ‘Make a claim’ section. There, you can make a claim directly – there's no need to call us.
We'll ask you for some details about your claim, including a crime reference number (if applicable), the date of loss or claim made against you, type of claim and its detailed description.
In the portal, you can also attach any relevant supporting documentation like proof of loss, proof of purchase, a letter of demand or a statement of claim.
We'll get on the case
Once submitted, your claim will be assessed by our experts.
If the claim is large, we may need more information from you. If it's small, however, our team may be able to settle it within a couple of days (or hours, in some cases).
Either way, we'll keep you regularly updated and you'll be able to see the status of your claim on our customer portal.
Your claim is settled
After it's been assessed, we'll let you know if your claim has been successful or not.
If items have been lost, stolen or damaged, we might arrange for the items to be replaced or make a payment to you.
If you’re liable for something we will assist you with legal support.
Small business insurance FAQs
What is small business insurance?
Small business insurance is a type of business insurance that’s tailored to small businesses. As a growing company with not many employees, small businesses may not need the level of cover that’s offered to larger organisations. That's why we offer adaptable insurance that fits around the industry you work in and the level of risk associated with your small business.
What small businesses do you cover?
From crafters to cleaners, cake makers to consultants, we insure over 1,000 different business types, so you’re bound to find yours in the bunch. You can have a look at the businesses we cover on our industries page. If you can’t find yours there, simply contact us via web chat, email or phone and we’ll be happy to assist you.
I work from home, do I need small business insurance?
If you operate your small business from home, there are a few different types of cover that you’d benefit from.
Firstly, if you have equipment for your business at home, such as stock, a computer or office furniture, then you’ll most likely benefit from contents insurance. Likewise, if you use a computer and handle data as part of your work, cyber insurance could protect you against hacking or a data breach, for instance.
If you invite members of the public into your home – to attend meetings, appointments or consultations – then you’ll also want to consider public liability insurance.
How to get small business insurance
You can easily buy monthly small business insurance through Superscript by clicking on the ‘Start your quote’ button. We’ll ask you some questions about your business to determine what type of cover would suit you best, then you’ll pick the insurance you need. If you get stuck, we’re always on-hand to help.
How much does small business insurance cost?
Your small business insurance quote will vary depending on a number of factors, such as how large your business is, the nature of your work and your turnover. There are a few more factors that influence the cost of business insurance, so it's worth reading up on it.
Is business insurance required by law?
No, most business insurance is not required by law. The exception to this is employers' liability cover, which is required by law for any business with employees.
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Authorised by the FCA
The FCA supervises UK financial services firms to protect consumers. We are directly authorised and regulated by the FCA and our Firm Reference Number is 656459. These details can be confirmed on the Financial Services Register at www.fca.org.uk or by calling the FCA on 0845 606 1234.
A-rated financial strength
Our insurance products are underwritten by Standard & Poor’s A-rated financial strength or higher. This means the underwriter has been independently assessed by the world’s leading credit rating provider and found to have a strong capacity to meet financial commitments (pay claims).
Protected by the FSCS
If you are a business with an annual turnover under £1m, charity with an annual income under £1m, or trust with net assets under £1m, then you will be entitled to compensation from the FSCS in the unlikely event we cannot meet our obligations. Full details and further information on the scheme are available at www.fscs.org.uk.