Whether or not you’re legally required to have business insurance depends on your particular business. Employers' liability is a legal requirement for most businesses that have staff, while other types of insurance, such as professional indemnity, may be required by regulatory bodies.
However, you may find that regulators require you to have certain types of insurance in order to operate. This effectively means that those insurances will be mandatory for particular professions. Solicitors, accountants and some healthcare professionals, for example, are required to have professional indemnity insurance.
It’s also possible that you won’t be able to sign contracts without having certain types of insurance in place. Whenever you take on a piece of work you should see if your client has any requirements regarding insurance and check that you have that particular cover in place.
Even if you find that there is no compulsory insurance for your particular business, it’s worth considering taking out a policy anyway. Insurance can cover you against mistakes, accidents, theft, damage and legal fees, making sure you can keep running even when things go wrong.
At Simply Business we insure all kinds of trades like:
Is your profession not listed? When you run a quote you can select your trade from over 1,000 options.
With more than 800,000 active insurance policies, we're one of the UK's biggest business insurance providers. We offer a range of business insurance covers including public liability, professional indemnity and employers' liability, plus you can pick and choose the covers that you require for your particular business.
6th Floor99 Gresham StreetLondonEC2V 7NG
Sol House29 St Katherine's StreetNorthamptonNN1 2QZ
© Copyright 2021 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.