Please note: this service is not provided by The Mortgage Advice Professionals. We will introduce you to a specialist firm we are partnered with, who will advise you and arrange the cover. MAP will stay alongside you throughout, supporting you at every stage of the process
Protecting the business you've built
Running a business creates exposures that personal insurance doesn't touch. Commercial insurance is the collective term for the policies that cover them — and for many businesses the starting point is public liability.
Protection when your business affects others
Public liability insurance responds when a third party — a customer, a supplier, a passer-by — is injured or has their property damaged because of your business activities, and holds you responsible.
It covers legal defence costs, any compensation agreed or awarded, and the expenses that come with defending a claim.
It applies both on your own premises (the classic slip or trip) and away from them (damage caused while working at a client's property).
It isn't a legal requirement in itself, though in practice it's often expected: many commercial landlords, local authorities and contract clients will ask to see it before you trade or start work, and may specify a minimum level of cover.
What public liability is there to protect against?
Claims can arise from something as straightforward as a customer slipping on your premises, or from accidental damage caused while carrying out work at someone else's property.
Other cover a business commonly needs
Public liability is only one part of a commercial insurance programme. The right combination depends on what your business does, who you employ, the premises you use and the risks you face.
Employers' liability
Legally required if you employ anyone, with limited exceptions.
Commercial property
Buildings, fit-out, stock and equipment used by the business.
Business interruption
Covers the income lost while you can't trade after an insured event.
Professional indemnity
For advice, design or professional services where a mistake causes a client financial loss.
Product liability
Protection for goods you make, sell or supply where those products cause injury or damage.
Cyber
Cover for data breaches, ransomware and the cost of putting systems back together.
Fleet
Cover for business vehicles where your operation involves multiple vehicles.
Goods in transit
Cover for stock, equipment or goods while being transported as part of your business.
Getting the limits right
Every policy has a ceiling on what it will pay. Too low and a serious claim could reach your own assets; too high and you may be paying for cover you don't need.
The right figure depends on your sector, who you work for, and what your contracts require.
Too little cover
A serious claim could exceed the policy limit and leave the business exposed to costs from its own resources.
Too much cover
A higher limit can increase the premium, so there is little value in paying for protection that doesn't reflect the actual risk.
What determines the limit?
Your sector, the clients you work for and the requirements written into your contracts can all influence the level of cover required.
What affects the premium?
Commercial insurance premiums are based on the risks associated with your particular business. The main factors include your trade, turnover, headcount, location and claims history.
Trade
The type of work your business carries out and the risks associated with it.
Turnover
The size and level of business activity can affect the cost of the policy.
Headcount
The number of people working in the business can influence the risks and the premium.
Location
Where the business operates and the nature of the premises can affect the risk assessment.
Claims history
Previous claims can be taken into account when assessing the policy and premium.
Level of cover
The limits and types of protection selected will affect the overall cost.
Commercial insurance is specific to the business
There isn't a standard package that suits every business. The risks faced by a contractor, retailer, professional firm or manufacturer can be very different, which is why the cover needs to reflect how you actually operate.
Specialist commercial insurance
Commercial insurance is specialist work, and we refer it.
Tell us what your business does and we'll introduce you to a commercial broker who can assess the risks and arrange suitable cover.
Cover built around your business
The right commercial insurance starts with understanding what your business does, where the risks sit and what your clients or contracts require.
We'll help you identify where specialist commercial advice is needed and introduce you to a broker who can assess the risks and arrange suitable cover.
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