Do I need business insurance?
Almost every business in the UK needs some form of insurance, something as simple as a slip, trip or fall could result in a claim. Once the costs of legal fees are added then even a small claim can end up costing your business tens of thousands of pounds.
Business insurance can protect you against the unexpected. By having the right cover in place you’ll be able to carry on running your business with minimal disruption.
How can Bank of Scotland Business Insurance Services help me protect my business?
Your business is your future so you need to know it has the right protection. We realise that means more than simply getting comprehensive cover. We believe you should have access to:
- Experienced advisers who’ll assess your needs.
- A range of available covers and packages to suit a wide range of trades.
- Quotes from a panel of leading insurers so that you’ll pay a competitive price.
Insurance Solutions from Gallagher
We have chosen to work with Gallagher, one of the UK’s largest insurance brokers. As a broker, Gallagher have access to a panel of insurers plus they provide professional advice and expertise, helping you get the right insurance for your business.
What protection does my business need?
Your business is unique so it can be difficult to know what the specific insurance needs are. However, most business risks come under one of the 4 below categories.
From spilling a hot drink over your customer's laptop to leaving a loose wire which their child trips over, there's lots of small accidents that could happen.
With public liability cover you can protect you against third-party claims.
You're an expert in your field and your customers know that and so they rely on the quality of your advice and services. Unfortunately though mistakes can, and do, happen in all professional businesses. From losing your clients information to making measurements errors, anything which causes a financial loss could result in a claim. This might not be a direct financial loss – if a piece of work is delayed then your client might lose out on a business opportunity.
The costs of resolving and defending these types of claims can come to tens or hundreds of thousands of pounds and force uninsured business to close. With professional indemnity cover you can be assured that you’re protected should the worst happen, allowing you to focus on delivering for your clients.
You’ve discovered that leading a team of employees is very rewarding, but you also have a responsibility to those employees. Accidents can happen in any workplace and if a colleague is injured then your business can be held liable for compensation. The most common claims made by employees are for slips, trips and falls – is your business at risk?
To protect both employees and employers it is a legal requirement for almost all UK businesses with employees to hold employers’ liability cover. If you don’t have it you could face fines of up to £2,500 a day.
Maybe you own a shop, pub, restaurant or office. Whatever it is, your business premises are crucial to your day to day running of your business. To keep your business running you need to manage your premises, this means keeping staff and customers safe as well protecting any stock or equipment.
To ensure your business is protected you need insurance that covers a wide range of risks from small accidents to major events such as fires, floods or theft. You can find out more about the package covers available by calling 0345 377 0001 (Mon-Fri, 8am -6pm) to speak with an insurance expert.
How can I get the cover I need?
Whether you’re ready to get a quote or are looking for further guidance you can speak with a specialist adviser by calling 0345 377 0001 (9am to 5pm, Monday to Friday).
For shop owners keeping your business open for your customers is your number one priority. Tailor your policy to your business with options such as buildings insurance, public liability and product liability
As a pub, restaurant or cafe owner, your business is your pride and joy. Protect your establishment with options such as stock deterioration and business interruption.
A successful office runs like a well-oiled machine. Protect against the unexpected with products including business interruption and computer cover.
Nothing should threaten your commitment to your patients. Protect your business with equipment and stock cover in order to protect your patients.
Information you’ll need to provide
When you get a quote your specialist adviser will ask a few quick questions about your business such as the work you carry out and your employee details. By doing this they can help you get the cover your business needs.
Keep in Mind
Insurance covers are subject to the individual terms, conditions and exclusions of the insurer providing them. Always review the policy documentation supplied during the quote process to ensure you have the cover you need.
The small print
Please check you have all the cover you need by reading the policy documentation carefully (this will be provided during the quoting process).