Compare Business Insurance UK

How to compare business insurance in the UK

A genuine comparison matches four things before price: the limit of indemnity, the sums insured for property and stock, the exclusions and endorsements, and the excess. Two quotes that look identical often are not — one may carry £1m rather than £5m of public liability, a heave exclusion, a hot-works condition or a £2,500 excess.

Broker, comparison site or direct?

• Independent broker — 200+ UK and Lloyd's insurers, negotiated terms for non-standard risks, regulated advice on limits, and claims advocacy. Best for anything with a claims history, higher turnover, multiple sites, unusual trade or late-night hours.
• Comparison site — typically 8 to 20 panel insurers, information only rather than advice, and you check the wording yourself. Fine for very simple low-risk trades.
• Direct with an insurer — one appetite only. If your risk falls outside it, you are declined rather than placed.

What UK businesses typically pay each year

• Sole trader, office based — £250 to £600
• Sole trader, site based — £400 to £1,100
• Small team, shop or salon — £1,200 to £3,500
• Restaurant with 10 staff — £3,000 to £8,000
• Contractor with 20 staff and vans — £8,000 to £22,000
• Manufacturer turning over £5m — £15,000 to £45,000

Only two business insurances are legally required in the UK: employers' liability of at least £5 million, and motor insurance for vehicles used on the road. A packaged commercial combined policy typically costs 10 to 12 per cent less than buying the same sections separately. Start comparing three to four weeks before renewal.

Build your own figure with the business insurance cost calculator or the public liability calculator, read about business insurance, or call 020 8908 2426. Premier Insurance Services Ltd is authorised and regulated by the Financial Conduct Authority, firm reference 305009.