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Business insurance comparison
Compare business insurance quotes
Business insurance is different to home insurance
Get business insurance to protect your premises, people, stock & more
Bionic is the comparison site for your small business
We compare a vetted panel of trusted UK business suppliers
What is business insurance?
Business insurance is a way to protect your business against any accidental losses or claims made against it. None of us can see into the future, but having the right business insurance policies in place can help make sure you’re at least covered if the worst should happen.
Business insurance policies usually include a range of covers, including employers’ liability insurance, public liability insurance, and professional indemnity insurance.
These combined covers can protect against the financial risks of compensation claims or legal action taken against your business if it’s deemed responsible for property damage, injury or loss of life, lost or stolen items, unexpected closures, giving incorrect advice and more.
That’s why it’s important to tailor your insurance to meet the exact needs of your business and cover against all possible risks.
Business insurance policies usually include a range of covers, including employers’ liability insurance, public liability insurance, and professional indemnity insurance.
These combined covers can protect against the financial risks of compensation claims or legal action taken against your business if it’s deemed responsible for property damage, injury or loss of life, lost or stolen items, unexpected closures, giving incorrect advice and more.
That’s why it’s important to tailor your insurance to meet the exact needs of your business and cover against all possible risks.
How Bionic business insurance comparison works
Compare business insurance quotes in three simple steps with Bionic
No needless questions
We get straight to the point and only ask questions that are relevant to you and your business.
We compare quotes
We’ll help you to uncover what you really need for your business. Only pay for what you need. No needless extras.
You choose the cover
We compare quotes from across our insurance panel and discuss your options. You then choose the cover you need.
Your Bionic comparison is free.
If you decide to switch, we’ll be paid a commission by the new supplier that is included in the prices we quote.
Why it’s better to talk
Every business is different, which means no two business insurance policies are the same. That’s why our insurance team is on hand to talk you through your options and help you tailor a package that meets your exact business needs with no hidden or unnecessary extras.
Cover against the real risks to your business
Each business faces different levels of risk. Our insurance team will cut through the insurance jargon and policy information and discuss your needs to make sure you’re covered against the main risks to your business.
Tailor your policy
There’s no one-size-fits-all when it comes to business insurance, and each policy is made up from a range of covers. Speaking with our insurance team means you can tailor a package to meet the unique needs of your business.
Quality cover from trusted providers
We work closely with our panel of trusted business insurance providers to find high quality cover for your business. While price is important, ensuring your business is fully protected is the most important thing when buying business insurance.
All part of the service with Bionic
Complete peace of mind, every year
Once we’ve helped you tailor the ideal business insurance policy, we’ll arrange everything with your new insurer so you can relax, safe in the knowledge that you’re fully covered. We’ll then get in touch when it’s time to renew to help you arrange your next policy.
Sort all your business essentials in one place
Bionic is a one-stop shop for business energy, business insurance, business connectivity (phone line and broadband), and business finance (loans). Save yourself time and hassle by getting all your business products sorted in one place. Just one name to remember for any of your essential services.
Or speak to one of our team now on 0800 860 6833
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What are the main types of business insurance?
Different types of commercial insurance policies are designed to cover different kinds of risks. The key to getting the right cover for your business is working out which ones you need and which ones you don’t. When you sort your insurance with Bionic, our team are on hand to help you through the options.
Here are the main types of cover you might need to consider for your business:
- Public liability insurance - In case you injure someone or damage something while providing your services
- Employers’ liability insurance – In case an employee gets ill or injured because of the work they do for you
- Professional indemnity insurance - In case a customer sues you for damages because of a mistake in your work
- Commercial building insurance – To protect business premises that you own, whether you're using them or renting them out to others
- Stock and contents insurance - In case your stock or equipment is stolen or damaged by flood or fire
- Product liability insurance – In case a product you have sold, manufactured, or designed injures someone or damages something
- Legal expenses insurance - To cover the cost of the legal expenses of any claims you make or that are made against you
- Business interruption insurance - To provide compensation if a disaster or event stops your business from running normally
Normally, a business would need a combination of these covers – so, it makes sense to carry out a business insurance comparison. We can help arrange a business insurance package based on the needs of your business.
What types of businesses need business insurance?
No company can be run completely free from risks – regardless of the size of your business or the industry it works in. You should consider the following, based upon the size of your business and the stage it’s at:
Small business insurance
If you run one of thousands of small businesses across the UK, your needs and priorities will be different to bigger businesses and national chains. You might even need specialist insurance designed to protect against specific risks a business like yours might face.
If you have employees, you’ll need employers’ liability insurance as a minimum as it’s a legal requirement. If you use any vehicles for work purposes, you’ll also need specific motor cover (again, it’s a legal requirement, and standard motor insurance isn’t enough).
You should also consider public liability insurance (to protect against damage claims from customers), stock insurance (in case your stock is wiped out by flood or fire) and business interruption insurance (in case something happens to stop you from trading). The best thing to do is carry out a small business insurance comparison with us today and we’ll be on hand to help you find the right cover.
Limited company insurance
If your business is a limited company, you also need insurance. You can reduce risks across your business, but you can’t eliminate them.
If an employee slips and injures themselves while working for you, you could still be liable and face hefty compensation fees. Or you could still find yourself on the end of a claim if your business has given clients bad advice or a dodgy design resulting in them losing money.
The only way to protect yourself against financial loss in such instances is to carry out a business insurance comparison to make sure you have comprehensive commercial insurance that includes business insurance policies that include all the right coverages. Start a quote online today.
New business or startup insurance
If you’re starting out, it can be difficult to know exactly what risks your business will face. To give you an idea, here are some possible problems you could face and the type of cover you’ll need:
- A customer falls ill after eating at your restaurant – Public liability insurance provides cover in case you injure someone, someone gets ill or damages something while providing your services.
- An employee slips at work and breaks their arm – Employers' liability insurance provides cover in case an employee gets ill or injured because of the work they do for you.
- Your storeroom is broken into, and all your stock is stolen - Stock and contents insurance offer cover in case your stock or equipment is stolen or damaged by flood or fire.
- A burst water pipe in your road means your business needs to close temporarily – Business interruption insurance provides cover when you can’t carry out business as usual due to an unexpected event.
If you’re still not sure what cover is right for your business, compare business insurance and start a quote with us today. Our knowledgeable insurance team can help you through the options - without any hidden or unnecessary extras.
Sole trader insurance
If you’re self-employed or a freelancer, you should still consider getting insurance. If you work on someone else’s property there is a risk of injury to another person, having public liability insurance is a safe bet to cover your back.
Depending on the nature of your work, you may need additional insurance like stock insurance, for example.
Start a quote with us today, our insurance team are on hand to help make sure you’re insured.
What industries need business insurance?
All businesses with one or more employees who aren’t immediate family members need employers' liability by law. But some other types of insurance are essential for certain industries and services to keep employees and customers safe. We can help arrange cover for the following businesses to ensure sufficient cover:
- Salons (beauty/hair)
- Takeaways
- Shops (retail)
- Trade/Tradesman including - builders, painters, plumbers and cleaners
- Cafe/Coffee Shops
- Commercial Property
- Hotels
- B&Bs
- Restaurants
- Pubs
- Barbers
- Bakers
- Office
- Manufacturing
- Commercial Landlords
If your business type isn’t listed, we may still be able to help arrange a specialist or combined policy tailored to your specific needs.
What can impact the cost of your business insurance?
Several factors play a role in determining the premiums you’ll have to pay. Here’s a breakdown of what can affect the cost of your business insurance policy:
- Claims History - Insurance providers will look at your claims history over the last five years to assess risk and help determine prices
- Business Longevity - The duration your business has been active in its specific trade can influence your premiums. Longer-standing businesses might be viewed as more stable
- Operational Hazards - Working in environments considered hazardous or using dangerous materials can greatly impact insurance costs due to increased risk
- Assets Covered - The value of the goods, equipment, and tools you insure also affects your premium. Higher values typically mean higher risk and potentially higher costs
- Coverage Extent - The more types of coverage you add to your policy, the higher your insurance costs can be as you're safeguarding against more potential risks
By understanding these key factors, you can better anticipate the cost of your policy and explore ways to manage your insurance expenses effectively.
Why compare business insurance?
The cheapest policy doesn’t always mean the best policy. When comparing quotes, you’ll want to look at the small print and consider what’s covered and what’s not.
It’s always best not to cut corners when it comes to your business, so you need to make sure you have the right cover in place. If you don’t feel confident going about it alone, it’s best to speak to someone who can help and understand the specific needs of your business.
That’s why you should compare business insurance providers with Bionic and get some help from our insurance team until you find one that fits.
Do you need business insurance when working from home?
Home insurance generally only covers items that you own, so if you’ve shipped any work equipment into your house, it’s unlikely this will be covered by your existing home insurance policy.
If this is the case, you will need to tell your home insurer you are running a business from your home as this may materially affect your home insurance policy. You’ll need to speak to your provider and possibly arrange work-from-home insurance or a home business insurance policy. Find out more in our guide to business insurance when working from home.
Business insurance FAQs
To help you understand more about business insurance, here are the answers to some of our most frequently asked questions.
Are riots covered by business insurance?
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?
Is Bionic an insurance broker?
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 policies and coverage limits to protect customers against the risks to their business.
What kind of commercial insurance do I need by law?
This depends upon the type of business you own. There are only two types of business insurance that are a legal requirement in certain circumstances:
- Employers’ liability insurance - if you have one or more employees who aren't immediate family members.
- Business motor insurance - if you use a vehicle for business purposes. Unfortunately, we can't provide this type of cover at Bionic, but it's likely we can insure your business operations.
Although other types of cover like public liability aren't a legal requirement, they are a good idea to consider for protecting your business operations from claims and hefty payouts. Find out what insurance coverage you might need with our guide.
Start a quote online today or call Bionic to find out more on 0800 077 3810 and a member or our insurance team will talk you through your options.
Does public liability cover actions by employees?
Public liability covers injury or damage caused as a result of the business or it’s 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.
What is product liability insurance?
Product liability insurance is a type of commercial insurance that covers claims made against you if a product you’ve designed, manufactured, or sold causes injury or damage to people or their property.
Does business insurance cover legal expenses?
If you think you’ll need to have the cost of legal expenses covered, which could include legal representation, then you’ll need 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.
How does business interruption insurance work?
Business interruption insurance covers loss of income or earnings if your business must close or can’t trade because of unforeseen events that damage your property. It’s unlikely that standard business interruption insurance will provide pandemic cover.
Can I get business insurance before registering my business?
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.
How do business insurance claims work?
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.
Our team shares essential knowledge on business insurance
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