Public liability insurance for startups]
In case your startup causes an injury or property damage.
What’s typically covered by public liability insurance?
Claims against your business for:
damage to someone’s property
injury or illness caused by your startup business
accidental damage or injury caused by your employees, if you have any
For example:
you’re in a shared office space with your laptop plugged in at the wall. Someone walks past and trips over your cable, breaking their wrist
you accidentally knock a bottle of water over a client’s laptop, damaging the keyboard
What you’ll need additional cover for
if you do employ anyone, you’re usually required by law to have employers’ liability insurance too.
Read more about public liability insurance
Employers’ liability insurance
In case something happens to an employee while working for your startup.
What’s typically covered by employers’ liability insurance?
Claims against your business for:
an injury or illness that comes as a result of working for you (including temps and casual workers)
**Employers’ liability insurance is required by law if you have people working for you. Without it, you could be fined up to £2,500 a day for each employee.**
For example:
you’ve asked a developer on your team to carry some equipment into a meeting room – they trip over a loose floor tile and break their arm
your assistant gets an electric shock when they unplug some equipment from your desk set-up, injuring their hand and arm
Professional indemnity insurance for a startup
In case there’s a claim for negligence, or breaches in your duty of care.
What’s typically covered by professional indemnity insurance?
Claims against your business for:
advice which turns out to be incorrect
mistakes in your work that cost others money to fix
For example:
just after launching, another brand accuses you of copying their logo design and you need to defend yourself in court
your client data is hacked while you’re using a shared workspace, and a claim is brought against you for the breach
Read more about professional indemnity insurance
Business and office equipment insurance
In case things like your phone or tablet are lost, stolen, or damaged.
What’s typically covered by business and office equipment insurance?
theft, flood, fire, or accidental damage to the equipment you use to run your business, rather any specialist trade tools you take out and about
operational equipment like your laptop, office printer, and phone
For example:
you’ve just moved into a new office space and taken delivery of five employee laptops, which are stolen during an overnight break-in
you drop two tablets on a restaurant’s marble floor, damaging both beyond repair
Read more about business and office equipment insurance
Tools insurance
In case your tools are lost, stolen or damaged.
What’s typically covered by tools insurance?
loss, damage, or theft of your trade tools and specialist professional equipment
For example:
an employee you’ve just hired steals brand new equipment from your workshop
you’re commuting to a client meeting and leave your bag on the train, losing the kit inside
Read more about tools insurance
Stock insurance
In case something happens to the stock and materials you keep in supply.
What’s typically covered by stock insurance?
loss, damage, or theft of your work materials, stock, or items you’re planning to sell
For example:
a fire in your workshop damages your orders and a large stock order, which will need replacing
the marketing materials you’ve ordered for a trade show are stolen from your locked site unit
Read more about stock insurance
Business interruption insurance
In case your startup can’t trade, because of things like theft or damage.
What’s typically covered by business interruption insurance?
your business income, if you can’t trade because your stock, contents, or buildings are damaged or stolen
For example:
a storm damages your shared workspace, and your team are forced to work from home for a week, without the right IT equipment and set-up
all of the stock you’ve prepared for a the busy Christmas season is stolen, and you need to close until it’s replaced
Read more about business interruption insurance
Legal expenses insurance
In case you and your startup face legal costs.
What’s typically covered by legal expenses insurance?
legal costs attributed to your startup
property damage, nuisance, or trespass – specifically, the associated legal claims and compensation payouts
tax and compliance disputes and investigations you need help with
access to expert advice – including a tax advice phone line, confidential 24/7 legal phone line, and crisis PR support to help you protect your startup’s reputation
For example:
you need to pay legal fees when an employee is injured at work, and brings a claim against you
the courtyard garden you use as a reception space is vandalised and you need to raise an expensive legal claim
Read more about legal expenses insurance
Personal accident insurance
In case anyone you’ve covered is accidentally injured, at work or elsewhere.
What’s typically covered by personal accident insurance?
accidental injury or death at or outside of work, for anyone covered on the policy
lost income, medical costs, and hospitalisation benefit
For example:
you fall down some stairs in your office, breaking your ankle which will require two rounds of surgery and time off active work
your business partner suffers concussion while on holiday and needs time out for tests and recovery
Read more about personal accident insurance
