Business Insurance

Operating a business involves uncertainties like accidents, property damage, or legal liabilities. Insurance acts as a safety net, covering the financial repercussions of unforeseen events such as compensation for injured employees, repairing damaged property, or legal fees, helping businesses navigate challenges without facing crippling financial losses.

Businesses need insurance in the UK to fulfill legal requirements and obligations, such as mandatory employers’ liability insurance for those with employees. Non-compliance can lead to severe penalties and legal consequences. Having the necessary insurance policies in place not only adheres to legal requirements but also demonstrates responsibility towards employees and the community.

Disruptions like natural disasters can halt operations and impact revenue. With the right coverage, businesses can recover more swiftly, obtaining financial support to repair or replace damaged assets, resume operations, and meet ongoing financial obligations. This resilience is crucial for sustaining long-term business success, especially in the face of unexpected challenges.

Every business faces unique risks based on its industry, size, and operations. Insurance allows businesses to tailor coverage to their specific needs. Whether it’s professional indemnity insurance for service-oriented businesses, property insurance for those with physical assets, or cyber insurance for digital risks, a customised insurance portfolio ensures comprehensive protection.

Professional indemnity insurance can help protect a business if a client claims there’s a problem with the work that’s been done. It can cover the costs of compensation to correct a mistake or settle a claim, and covers the cost of the legal defence.

Professional indemnity insurance can provide invaluable cover to businesses providing professional advice or services to clients which could be challenged.

Covers a business if someone else is injured, or property is damaged as a result of its actions.

Public liability insurance protects against the cost of any claims from third parties, such as compensation payouts and legal costs.

Covers a business against claims from employees. All employers are required by law to have this in place at a minimum level of cover of £5,000,000.

Fee Protection Cover protects a company from additional costs incurred on professional fees in dealing with an HMRC enquiry (including IR35 enquiries).

When you sign up with Vantage Accounting, you’ll get preferential rates with a choice of insurance partners offering contractor-specific and general packages. This could be Professional Indemnity, Public Liability, Employers Liability, cyber cover or even general office insurance. And all new clients get their first 3 months of Fee Protection Cover for free.