Start Up Business Insurance
Start Up Business Insurance
Whether your new business is a small enterprise, as a sole trader or a franchise, during the planning stage, startup business insurance may not have been at the top of your agenda. From day one you face the same risks as an established business and having adequate insurance in place will protect you and your business against liabilities, claim and potential losses.
Working long hours and with a tight cashflow, the last problem you need would be for anything to go wrong, or even worse, to jeopardise your business completely at start-up.
What Start Up Business Insurance would I need?
This depends on the type of business or service you have; each business has its own risks unique to the business type. The UK government offer a few insurance guidelines for small businesses, we would also suggest contacting one of our brokers to discuss your venture, we offer information, advice, and guidance to help protect you and your business without obligation.
Insurance for Start Up Businesses
Business insurance is always a safe option at start up, things can go wrong and its always better to be protected as soon as you start trading. Certain covers are required by law (Employers Liability Insurance for example) and it is always best to speak with our brokers with regard to covers you may need. Typical covers are listed below; however, these may vary on your business type and activities.
- Public Liability Insurance
- Employers Liability Insurance
A legal requirement if you have employees. - Professional Indemnity Insurance
- Product Liability
- Buildings, Contents, equipment and Stock Insurance
- Business Interruption Insurance
Along with basic covers, there are also optional covers available to further protect your business (Cyber Insurance for example).
As Commercial Brokers, we cover many business sectors. We help and support sole traders, SME’s, Charities, and large corporate businesses.
Additional Covers
Why Choose Konsileo for your Business Start Up Insurance?
At Konsileo we have brokers all over the United Kingdom with a wealth of knowledge and experience in commercial insurance. We have specialist brokers in all sectors of business (Motor Trade, Retail, Construction etc) and are well placed to ensure all your business liabilities and risks are addressed. We have access to a multitude of markets and products ensuring we can tailor policies for each individual business, regardless of size or sector.
Speak with a specialist broker who fully understands your business needs today.
Frequently asked questions
The insurance a startup business needs depends on the type of work you do, whether you employ staff, and your business risks. Common policies include Public Liability Insurance, Professional Indemnity Insurance, Employers' Liability Insurance (if you have employees), Cyber Insurance, Business Equipment Insurance, and Office Insurance. Choosing the right cover helps protect your business against unexpected claims, legal costs, and financial losses from day one.
Some types of business insurance are legally required in the UK, while others are optional but strongly recommended. If your startup employs staff, Employers' Liability Insurance is usually a legal requirement. Other policies, such as Public Liability or Professional Indemnity Insurance, may be required by clients, regulators, landlords, or professional bodies. Having appropriate insurance also demonstrates credibility and helps safeguard your business as it grows.
The cost of startup business insurance varies depending on factors such as your industry, business activities, annual turnover, number of employees, location, and the level of cover you choose.
Many startups can tailor their insurance package to suit their budget and risks, ensuring they only pay for the protection they need. Speak with our Konsileo brokers who can advise on the appropriate covers you would need.
Startup business insurance can include a range of policies designed to protect your business against different risks. Depending on your needs, cover may include protection against third-party injury or property damage, professional mistakes or advice, employee injury claims, cyber attacks, business equipment damage, legal expenses, and business interruption. Your insurance package can be customised as your business develops.
Business insurance provides financial protection when unexpected events occur, helping startups recover from claims, accidents, theft, property damage, or legal disputes. Without adequate insurance, even a single claim could have a significant financial impact on a new business. Having the right cover allows business owners to focus on growth with greater confidence and peace of mind.
It's best to arrange business insurance before you begin trading or as soon as you start providing products or services. Having cover in place from the outset protects your business against unforeseen risks and ensures you meet any legal or contractual insurance requirements. Reviewing your insurance regularly as your startup grows helps ensure your cover continues to reflect your changing business needs.