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What is small business insurance?
Small business insurance policies are designed to protect you and your business against costs from unexpected events such as:
lawsuits
fires and floods
theft
If you run a small business or a start-up, you might not have the same resources as bigger companies – so if something goes wrong and you face unexpected costs, it could hit you much harder.
Small business insurance offers peace of mind and protection.
What cover is included?
Small business insurance typically combines various types of cover tailored to different risks.
This could include:
Public liability insurance covers claims if a customer is injured on your premises
Professional indemnity insurance protects against legal costs from professional mistakes or negligence
Employers’ liability insurance protects employees and is legally required if you have staff
Business interruption insurance helps cover lost income if your business can’t operate due to events like fire or flooding
Do I need business insurance for my small business or start-up?
Without cover in place, unexpected setbacks like theft, lawsuits, or property damage can cripple a small business.
The right policy will depends on factors like your industry, number of employees, and annual revenue – a freelance graphic designer will have different needs from a café owner or a construction firm, for instance.
What type of small business insurance do I need?
🚩 Only employers liability insurance is legally required (if you have staff).
Type of insurance | Legally required? | Who needs it? |
|---|---|---|
Employers’ liability insurance | Yes (if you employ staff) | Required by law if you hire any staff (including part-time, temps, or contractors) |
Public liability insurance | Not legally required | Strongly recommended if members of the public visit your premises or you work on-site for clients |
Professional indemnity insurance | Sometimes | Mandatory for certain regulated professions (e.g. solicitors, accountants, financial advisers); advisable for consultants and service providers |
Commercial vehicle insurance | Yes | Required if you use any vehicle for business purposes |
Business contents insurance | No | Recommended to protect the equipment, stock, furniture, and fixtures you rely on to run your operations. |
Stock insurance | No | Recommended if you hold equipment, tools, or inventory that would be costly to replace |
Business interruption insurance | No | Helps cover income lost due to events like fire, flood, or forced closures |
Cyber insurance | No | Recommended if you handle customer data, take online payments, or run a website |
💡 Top tip:
When assessing your small business insurance needs, it’s important to consider factors unique to your operation—such as your industry, location, and services. A tradesperson working on construction sites may need public liability and tools insurance, while a freelance consultant might prioritise professional indemnity to cover client advice.
What insurance should I have for a small business?
There are several different types of insurance available for small businesses. Here’s some of what’s on offer and why you might need it.
Employers’ liability insurance
If you have employees, you legally need to have employers’ liability insurance. This covers you for any costs you might face if an employee is injured or becomes ill as a result of the work they do for you.
For example:
A staff member in a bakery might slip on the floor in the kitchen and suffer a back injury. The staff member could file a compensation claim, stating that the business failed to provide a safe working environment. Without employers’ liability insurance, the bakery owner would have to cover legal costs and any compensation awarded.
Public liability insurance
Public liability insurance is useful if your business involves interacting with members of the public. It keeps you covered in case any third party is injured because of your work, or if you damage someone’s property.
For example:
A small business owner runs a market stall. A strong gust of wind blows over the stall's display stand, which strikes a passerby and causes a head injury. The injured person requires hospital treatment and sues the stallholder for damages.Without public liability insurance, the stallholder would have to personally pay for any legal fees and any compensation.
Professional indemnity insurance
You’re likely to need professional indemnity insurance if your business involves giving advice or professional services to clients. It protects you against claims if a client isn’t happy with your work.
For example:
An architect is hired to design a residential extension. The contractor later discovers the design contains a structural flaw that doesn’t comply with building regulations. Work must stop while the plans are revised and re-approved, causing delays and extra costs.The client sues the architect for the cost of the delay and additional construction work. Without professional liability insurance, the architect would have to pay the legal fees and any compensation out of pocket.
Product liability insurance
If your business sells products it’s important to take out product liability cover. This protects you if the products you sell harm one of your customers.
For example:
A small business sells handmade skincare products. One customer buys a natural face cream and later develops an allergic reaction. The customer claims the product was not properly labelled with potential allergens and sues the business for damages.Without product liability insurance, the business owner would have to cover the legal defence costs and compensation.
Business buildings insurance
If you have a business premises, or even if you work from home, commercial buildings insurance keeps you protected against damage to your building – whether that’s from fire, floods, burst water pipes, or deliberate vandalism.
For example:
A small business owner runs a clothes shop. One night, an electrical fault causes a fire that damages the building. Business buildings insurance would cover repair costs to the building, fixtures and fittings.
Business contents insurance
It’s not just the structure of your business premises that needs protecting – with commercial contents insurance, you will also be insured against damage to your office furniture, IT systems, tools, or machinery.
For example:
A small business owner runs a clothes shop. One night, an electrical fault causes a fire. Business contents cover would pay for loss or damage to office equipment, computers and tools.
Stock cover
Plenty of businesses leave stock items on their premises overnight – and no matter how secure it is, there’s still the risk of theft or damage. With stock cover, you’ll be reimbursed for any goods you lose.
For example:
A small business owner runs a stationary shop. One day, an burst pipe causes a flood that damages the building. Stock cover would insure against loss or damage to the notebooks, pens and other items for sale.
Business motor insurance
Any vehicles you use for work must be fully insured – but ordinary vehicle insurance doesn’t always include business use. You’ll need business car insurance or business van insurance covered and legal to drive.
How much does small business insurance cost?
The table shows the average prices paid by our customers for the most common types of business insurance.
Average price means 51% of customers paid this amount or less. Cheapest price means 10% of customers paid this price or less.
Cheapest Annual Price | Average Annual Price | |
|---|---|---|
Public liability | £54.01 | £88.30 |
Professional indemnity | £57.11 | £78.40 |
Employers liability | £67.77 | £223.49 |
Factor that influence the price of your cover include:
The nature of your business
Some lines of work are riskier than others. If you work with heavy machinery or sensitive information, for instance, you’ll probably have to pay more
How big your business is
Small businesses come in plenty of different sizes – but the more employees you have, the more you’re likely to be charged for cover
Where your business is based
If your business is based in a riskier area – one that’s prone to flooding, or has a high crime rate – your premiums could go up
What’s the cheapest price I could pay for business insurance?
£5
.41^ per month
According to our latest data, 10% of customers paid this when taking out an annual public liability insurance policy.
How much is the average business insurance claim?
£3,377^
The cost of fixing insurable problems yourself is usually significantly more expensive than taking out insurance.
Our expert says…
While almost half of all SMEs in the UK have some level of business insurance in place, a 2023 report found that four in five businesses remain underinsured and without the right level of coverage. It may not be high up on the priority list when you’re running a startup or small business, but business insurance offers vital protection against financial risks that can be difficult to recover from.
This can be particularly true if you interact with the public, offer advice or even employ your own staff. But we understand that it’s also important to stay within budget and keep costs down - which is why we recommend comparing business insurance quotes to find the best deal possible.
Jake Edmonds Travel & Commercial Insurance Expert
How do I compare quotes for small business insurance?
Comparing small business insurance quotes with MoneySuperMarket and our partner Simply Business is an easier way to find an affordable deal. Here’s how it works:
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Why should I use a price comparison website?
One of the best ways to get the lowest prices and best deals is to compare quotes from different companies. We do the work for you, comparing quotes side-by-side and giving you all the information you need so you can choose the right deal for your needs and your wallet.
We don’t give recommendations or financial advice, but we give you clear information so you can choose financial products that suit your circumstances.
Does MoneySuperMarket work with all the providers on the market?
No, not every company can be included in our service. This is because some companies don’t want their products included on comparison sites, and some decide that they would rather not pay a fee. There are also a few smaller providers who can struggle to cope with the volume of customers that can find their products if they appear on MoneySuperMarket.
Our goal is to search deals from as wide a range of companies as possible so that you can choose the deal that suits you.
Is business insurance eligible for SuperSaveClub and rewards?
No, at this time business insurance is not an eligible product for unlocking our SuperSaveClub rewards. It is also not included in our Price Promise.
Who are Simply Business?
Simply Business is one of the largest insurance brokers in the UK. They work with leading and specialist insurers to provide cover for small business owners, landlords and self-employed workers.
MoneySuperMarket has a commercial partnership with Simply Business. They offer various business and landlord insurance policies from different insurers through our platform, allowing our customers to find affordable quotes and policies that suit your specific needs.
Reviewed on 8 Dec 2025 by
According to Simply Business data, 10% of customers paid £5.41 or less monthly for a public liability insurance policy. Figure based on annual quotes purchased between 1st Aug - 31st Oct 2025. The price is for up to £2 million of public liability insurance and excludes the extra costs for paying monthly
Average claims value for MoneySuperMarket customers who claimed on their business insurance in the last 12 months. Data provided by SimplyBusiness.