Public liability insurance protects your limited company against claims made by third parties for personal injury or property damage. This type of insurance is important if your business interacts with the public, such as clients, customers, or suppliers, including courier and delivery services.
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Get the cover you need if you own a limited company
Protect your business from costly mishaps, such as damage to property or equipment, legal action or theft.
What is limited company insurance?
This type of insurance provides protection for your private limited company against potential risks and liabilities. It helps your business stay protected in the event of unforeseen circumstances, such as accidents, injuries, theft, or damage to property.
How does limited company insurance work
Limited company insurance works by providing financial assistance when your business needs it the most. If an incident occurs that’s covered under your policy, your insurer will award compensation to help you recover from the damage or loss.
For example, if your business is flooded out, your insurance will cover most of the cost of repairs or replacements for damaged property or equipment. You may need to pay an excess, but even so, the payout can help you avoid costly expenses that can impact your business's finances.
No. of private sector companies in the UK[1]
5.6million
Why should I get limited company insurance?
Insurance for limited companies is an important part of protecting your business from potential financial losses. Without cover, your business could be vulnerable to lawsuits, accidents, or other unexpected events that could impact your bottom line.
Additionally, many clients and customers may require you to have certain types of insurance before doing business with you. This can help build trust and credibility with your clients and protect your business's reputation.
What different types of limit company insurance can I get?
Public liability
Public liability insurance protects your limited company against claims made by third parties for personal injury or property damage. This type of insurance is important if your business interacts with the public, such as clients, customers, or suppliers, including courier and delivery services.
Employers' liability insurance
Employers' liability insurance is a legal requirement for any business with employees who aren’t immediate family members. This type of insurance covers claims made by staff for injury or illness sustained while working for you.
Professional indemnity insurance
Professional indemnity insurance protects your business against claims of negligence, errors or omissions made by clients or customers. This is particularly important for businesses providing professional services, such as consulting, legal or accounting services.
What different types of limit company insurance can I get?
Public liability
Employers' liability insurance
Employers' liability insurance is a legal requirement for any business with employees who aren’t immediate family members. This type of insurance covers claims made by staff for injury or illness sustained while working for you.
Professional indemnity insurance
Professional indemnity insurance protects your business against claims of negligence, errors or omissions made by clients or customers. This is particularly important for businesses providing professional services, such as consulting, legal or accounting services.
How to choose insurance for a limited company
Choosing the right limited company insurance policy can seem challenging, but there are a few key factors to consider when making your decision. These include:
Coverage
Make sure you choose a policy that covers all of the risks and liabilities that are relevant to your business. Consider the potential risks your business may face and choose a policy that offers adequate coverage for those risks.
Cost
Consider your budget when choosing a policy. Look for a policy that provides the coverage you need at a price that fits your budget.
Reputation
Choose an insurance provider with a good reputation for customer service and claims handling. Check online reviews and ask for recommendations from other business owners.
Compare
Compare policies from different providers to find the best coverage and value for your business.
How much does limited company insurance cost?
The cost of insurance for a limited company can vary quite widely. Not only is it affected by which insurer, covers and limits you choose, what you pay can also be influenced by factors such as:
Your business activities
Where your business is located
Your annual turnover
How many people work for your business
Your claims history
Price shouldn’t be your only priority. Cheaper insurance could end up costing you more if it doesn’t provide the cover you need. To get the best deal, look for insurers that allow you to tailor the policy to your needs so you're not over-paying or left under-insured.
| Insurance Type | From | To |
|---|---|---|
| Public Liability Insurance | £4.95 | £26.82 |
| Professional Indemnity Insurance | £9.08 | £50.66 |
| Employers' Liability Insurance | £1.09 | £29.15 |
| Business Equipment Insurance | £2.77 | £12.39 |
| Cyber Insurance | £10.79 | £46.67 |
| Directors' and Officers' Insurance | £7.94 | £19.83 |
Superscript - 10% of Superscript customers paid this much, or less, between April and June 2023.
Superscript - 10% of Superscript customers paid this much, or more, between April and June 2023.
These prices should only be used as a guide. When you get a quote, it will be tailored to your business’s unique circumstances and risk profile – so you may be quoted a price that’s a bit higher or lower.
Learn more about our business insurance partner
We qualify, quantify and offer insurance using data, analysis and technology, and we serve a wide range of business types — from dog walkers and dieticians, to landlords and locksmiths. Enro Ltd t/a Superscript is authorised and regulated by the Financial Conduct Authority.
Why Superscript?
We make it quick and easy to find, buy and manage your business insurance.
Customisable cover for 1000s of business types
Superscript will help you find the different types of cover that are right for your business.
Adjust your cover as you grow
Amend your cover with no admin fees, to address your evolving needs as your business grows.
Simple claims process
Our customer portal allows you to enter the details we need to get your claim processed.
FAQs
Is limited company insurance a legal requirement?
Employers’ liability insurance is legally required for UK businesses that have employees, other than direct family members. But, other types of insurance such as public liability and professional indemnity aren’t mandatory. Nevertheless, they are recommended to protect against financial loss in case of unexpected events and some clients may only work with businesses that are covered.
Can I get limited company insurance online?
Plenty of insurers offer online quotes for limited company insurance. But, you may decide to work with a broker if you have complex needs or want a second opinion on what cover your business needs.
How can a limited company reduce the cost of insurance?
A limited company can reduce the cost of insurance by choosing a provider that lets you tailor your policy to your needs, so you don’t end up overpaying or under-insuring.
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References
1. Gov.uk statistical release Business population estimates for the UK and regions 2023