Compare Business Insurance

Bionic is a broker for a range of business services, including energy, broadband, and insurance. As a business insurance broker, we are not an insurer and do not provide coverage ourselves. Instead, we help customers find the right insurance for their business's specific needs. To do this, we compare quotes from a panel of insurers to find the right types of covers to help protect customers against the specific risks their business faces.

Bionic Financial Services is authorised and regulated by the Financial Conduct Authority (FCA). You can check our registration on the FCA register.  

Standard home insurance doesn't cover business risks. 42% of uninsured businesses give working from home as the main reason they don't have cover, but running even a small business from home can expose you to risks. 

You should consider home-based business insurance. Aways tell your home insurer you are running a business from your home as this may affect your home insurance policy.  

Public liability can help cover injury or damage caused as a result of the business or its activities. If a customer falls down a broken step at the premises, slips over on spilled water on the floor or gets food poisoning from the food sold at the business and served by employees, all of these types of scenarios would be considered as a public liability claim. It does not cover employee injury or illness as a result of their work. You would need to take out employer’s liability insurance to help cover against employee claims. This is legal requirement if you have employees. 

Product liability insurance is a type of commercial insurance that can help cover claims made against you if a product you’ve designed, manufactured, or sold causes injury or damage to people or their property. If you sell physical goods – whether online or in a shop – it's worth considering 

Business interruption insurance covers loss of income or earnings if your business must close or can’t trade because of property damage cause by unforeseen events listed on your policy.

You can get business insurance before registering your business, and it’s unlikely that you’ll need to provide your company registration number or any business registration details when taking out cover. You can take out a business insurance policy before you’ve started trading, and this might be necessary if you need to store stock and equipment before you are fully open for business. If you are registering as a limited company after you take out insurance, it is important to let your broker know to ensure your policy is in the correct trading name.

If you think you’ll need to have the cost of legal expenses covered, which could include legal representation, then you should consider legal expenses cover. If your business is one that is prone to legal claims, either brought by or against you, it could be a worthwhile investment. 

The way your claim is processed and the time it takes for you to be paid out will depend upon your insurer and the complexity of the claim you’re making. If you’re claiming for damage or losses in the case of an accident or disaster, you’ll need to provide photographic evidence to support your claim. If it’s a claim for theft or vandalism, you’ll also need to provide a police crime number. 

Whatever you need to claim, it helps you to be prepared and have all your contact numbers and policy details in a safe place. It might also be worth keeping the details on your phone, so you’ll have them to hand immediately. 

If your business uses a computer, stores customer data, takes payments online, or uses cloud-based software, then cyber insurance is worth considering. Small businesses are prime targets for cyber attacks and cyber insurance can help cover the cost of investigating a breach, notifying customers, paying legal fees and recovering lost data. 

If you don't have the small business insurance in place and someone makes a claim against your business, you'll need to pay any compensation and legal costs out of your own pocket. For employers' liability, operating without cover is illegal and can result in fines of up to £2,500 per employee per day.

If you have business buildings, business contents, and stock insurance as part of your business insurance policy, then this should cover damage to your premises as well as damage or loss to contents and stock.  

If you've included business interruption insurance to your policy and there is damage at your premises, you’ll be covered for loss or trade or profit if riots are included in your policy wording.  

If your business has been affected by riots or civil unrest, contact your insurer as soon as possible so they can advise on the next steps. You can find out more in this guide - Is damage caused by riots covered by business insurance? 

If you've checked out these FAQs but still can't find an answer to your question, have a look at our Bionic Customer Support Hub.