Rated excellent (4.3 out of 5 stars). TrustPilot logo.

Commercial Insurance

From sole traders and small local businesses to expanding multinationals, commercial insurance provides a comprehensive solution to safeguarding the primary risks faced by a business. It consolidates all your key covers in one place, allowing you to stay focused on the game as you steer your commercial enterprise toward success.

Get a Quote
Scroll

What is commercial insurance?

General commercial insurance is an umbrella policy that combines several useful policies for businesses. It deals with third-party and employee claims, customer claims for negligent services, defamation, or mishandling of data, as well as commercial property, equipment, and stock damage or loss.

Do I need commercial insurance?

A commercial policy can offer peace of mind to a range of business owners. Even if you work from home rather than renting or owning commercial premises, this type of insurance can protect your business from a range of commonly encountered risks. For example, you are likely to benefit from this policy if you:

  • Deal directly with members of the public or work in public spaces.
  • Have employees, even on a part-time basis.
  • Offer a service, advice, or training, or handle sensitive data.
  • Own or pay for premises.
  • Hold equipment and/or stock.

What cover is included?

The main covers included in general commercial insurance are:

Public liability

This deals with claims made by members of the public for personal injury or property damage. For example, if a customer slips on a wet floor in your premises, or a tradesperson damages an expensive carpet while working in a client’s home.

Employers’ liability

By law, employers must hold at least £5 million of employers' liability insurance to cover claims made by employees for illnesses or injuries attributable to their employment.

Professional indemnity

If a client claims you caused them financial or reputational damage through the standard of your work, advice you gave, something you said about them, or the way you handled their data, this cover deals with any claims they make for compensation.

Business premises and contents

This cover can protect both your brick-and-mortar premises against damage in the event of storm, fire, or flood, as well as any contents, such as stock and equipment.

These make up the core of your policy, but you may like to think about these often overlooked but useful types of commercial insurance cover:

  • Business interruption
  • Commercial vehicle
  • Credit risk
  • Cyber attack
  • Management liability
  • Tool and hire-in tool cover

FAQs

How much does it cost?

Your commercial business insurance quote will be affected by the type of business you operate, its size, the number of employees, and its location.

Is it a legal requirement?

Commercial insurance isn't a legal requirement, but by law, employers must hold employers' liability cover and any commercial vehicles you own must be insured as such.

Do I need it for an online business?

You don't need to have customer-facing premises to benefit from a commercial policy, as it can still cover claims for negligent services and loss of stock.

Park Insurance has been a trusted commercial insurance broker for over three decades. We take a tailored approach to your insurance needs, offering the right covers at the levels that keep all those worries at bay. Get in touch with our friendly experts today to see how we can help.

Get in touch

Give us a call on 0117 301 8507 or click on the button below and we will be happy to contact you to discuss your needs.

Get in touch