Small business insurance
What does small business insurance include?
At Superscript, we understand that all businesses are unique. This is why we make it easy for you to get the cover you need, when you need it, by monthly subscription. As a small business, you'll want to consider:
- Public and products liability & professional indemnity
- Business contents cover
- Employers liability
- And, increasingly, cyber insurance
Over 1,000 business types covered. Find yours.
Key covers for small businesses
Public liability, product liability & professional indemnity
The first two cover you for claims by members of the public for damage to their property, or injury, due to your business activities. Professional indemnity is for claims made by your clients for their loss that arises out of your professional services.
The office equivalent of home contents cover. Unlike many other insurance providers, our contents insurance covers your equipment even if you're based at a co-working space - plus we'll cover up to 90 days a year abroad, if you're working remotely.
Employers liability 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 or damage to their property.
If you hold data or use computers, cyber insurance protects your business for a number of online threats.
What cover do I need for my small business?
With more than 1 in 3 small businesses in the UK claiming that they'd collapse if faced with a bill of £50,000 or more, getting the right insurance is important. Below, you'll find summaries of some of the covers we can offer your business.
Our quote journey will guide you through these options, so you don't need to memorise them!
Public liability insurance
Whether it’s a slip, trip, or fall by a member of the public at your workplace, or someone injuring themselves using your equipment – it could lead to a costly lawsuit. Whether or not you have public liability cover could mean the difference between your business recovering or going bankrupt. It's not a legal requirement, but some clients will insist on you having it.
Product liability insurance
If your business sells products, you'll want to consider product liability cover to cover compensation costs if you're sued for injuries or damage caused by your products. Our product liability cover comes as a package with public liability insurance.
Employers liability insurance
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. It's not a legal requirement, but some clients will insist on you having it.
Office contents and equipment insurance
If you're reliant on equipment to do your work, you'll want to consider protecting your business with contents and equipment cover. Specialised machinery and computers can be costly to replace - and portable items such as laptops and phones are easily lost or damaged.
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.
Small business insurance FAQs
If you run a small business, you'll most likely want to have public liability cover, at a minimum. This would cover you for legal and compensation costs if a member of the public were to sue you due to injury or damage caused by your business activities.
Our public liability cover includes product liability insurance, which would cover you for legal and compensation costs if your products were to cause injury or damage to a customer.
If you have any employees, you'll need employers liability cover too, which is a legal requirement in the UK, for all businesses with employees.
This will vary according to a number of factors, such as how large your business is, what you sell and the industry you work within. Our cover starts from £5.13 per month. Find out more about factors that influence the cost of business insurance.
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.
Customise your cover
To simplify things, we've categorised our covers into three groups: essential covers, professional covers, and management covers. You'll be guided through these different options during the quotation process.
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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.