Business insurance in the UK exists to help protect your business from financial loss, legal claims and operational disruption. Yet at Portal Broking Group, we regularly see UK business owners who think they’re fully covered but aren’t.
One of the biggest reasons? Assuming a “combined” policy automatically covers everything, when in reality it often doesn’t.
There’s no single policy that suits every business. Instead, business insurance should be built around your specific risks, legal obligations, and how your business actually operates.
Public Liability Insurance
Public liability insurance helps to protect your business if a third party is injured or their property is damaged as a result of your activities.
While it isn’t legally required, many clients, landlords, and local authorities may insist on it before they will work with you. A common issue we see is businesses holding a very low indemnity limit, which can leave them exposed if a serious claim arises.
Employers’ Liability Insurance (Legally Required)
If you employ staff, even part-time, temporary, or casual workers, employers’ liability insurance is a legal requirement in the UK.
It provides cover towards claims that arise from employees who become ill or injured because of their work. Fines for not having this cover can be significant, but more importantly, operating without it can put your business at serious financial risk.
Professional Indemnity Insurance
Professional indemnity insurance is essential if you provide advice, designs or professional services.
A very common misunderstanding we see is businesses assuming public liability will cover professional mistakes however it’s more than likely it won’t. Professional indemnity insurance provides cover towards claims arising from errors, omissions or negligence, and is particularly important for consultants, IT professionals, designers, and accountants.
Business Contents & Buildings Insurance
Business contents insurance help to protect your equipment, tools, stock and furniture against theft, fire or damage. If you own your premises, buildings insurance is also essential.
Underinsurance is extremely common here. Equipment values change, stock levels fluctuate, and many policies are never updated therefore a claim may not pay out in full.
Cyber Insurance
Cyber insurance has become increasingly important for UK businesses of all sizes.
It helps cover losses linked to data breaches, cyber attacks, and ransomware, as well as legal costs and recovery support. This is often not included in a standard commercial combined policy unless added deliberately or a separate Cyber Insurance Policy has been taken out.
Business Interruption Insurance
Business interruption insurance helps replace lost income and provide cover for ongoing expenses if your business can’t operate due to events like fire or flooding.
Many businesses either don’t have this cover or underestimate how long it would realistically take to recover.
Three practical steps you can take now
- Check which covers are legally or contractually required before assuming your policy is complete
- Review sums insured to avoid underinsurance, especially for contents and interruption
- Review your policy annually as your business grows or changes
The right business insurance protects more than assets. It protects continuity, credibility and peace of mind.
Book a business insurance review with Portal Broking Group to make sure your cover actually reflects your business not assumptions made years ago. Call us on 01829 706 436 or complete our contact form and we’ll be in touch as soon as possible.