Small business insurance basics – what you should know

Creating and running a small business is an exciting venture, however, there is a lot you should know when it comes to protecting yourself and your business. Here at Todd and Cue, we have provided a small list of different types of insurance to consider for your small business and what you know should about each of them.

Make sure you have employers’ liability insurance

By law, all employers of UK workers that aren’t related to the employer must have employers liability insurance. This type of insurance is important for compensating employees who become ill, injured or potentially die as a result of their work. Employers could potentially be fined up to £2,500 a day for not having employers’ liability insurance.

Remember, a member of the public could sue your business

It is important to have public and product liability insurance, as it can protect your business if a customer or member of the public hurts themselves at your premises or while using any products your business provides. This type of insurance will cover legal costs and also any damages to the property, as well as pay compensation costs. Although you might not think you need it, public and product liability insurance will provide yourself with peace of mind incase anything happened to go wrong.

Consider cyber liability insurance

If your business holds any form of data on individuals, it is so important to have cyber liability insurance. Technology is becoming a vital tool for almost any business, even a business on the smaller end of the scale will generally participate in some type of email marketing campaigns, therefore protecting yourself and your business from a possible data breach is crucial. Even if your small business doesn’t yet hold any data, it is always an important thing to consider for the future.

Do you need shop insurance?

If your small business is in the retail industry, then shop insurance is exactly what you may need. We provide tailored shop insurance packages to suit your business’ needs and also to suit the retail industry standards. These packages can include some of the major types of insurance you will need as a business owner, from public liability insurance to employer liability insurance.

If you require any more information on any of the different types of insurance policies mentioned above, then visit our website today for more details. Don’t hesitate to contact us today, we are always happy to provide any information and quotes.

Todd & Cue has grown consistently over the years, primarily through client recommendation, to become one of the UK’s leading independent insurance brokers and risk managers. Total client focus, with excellence in all aspects of service coupled with our growing buying power ensures that you will receive competitive insurance premiums and a true value for money service resulting in a complete and cost effective package.

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