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?
Limited company insurance provides protection for private limited companies, covering a range of potential risks and liabilities. It safeguards your business from unforeseen events like accidents, employee injuries, property damage, theft, and legal claims, which could otherwise result in significant financial setbacks.
A comprehensive limited company insurance policy can include:
By securing the right coverage, you ensure your company is financially protected, maintain compliance with legal requirements, and gain peace of mind to focus on growing your business.
How does limited company insurance work
Limited company insurance provides financial protection when unexpected events or incidents occur that could disrupt your business operations. If a covered incident, such as property damage, equipment loss, or an injury, affects your business, your insurer will step in to help with compensation, easing the financial burden.
For instance, if your business suffers flood damage, your limited company insurance can cover the costs of repairs and replacements for damaged property or equipment. While you may need to pay an excess, the insurance payout helps you avoid major financial setbacks and allows your business to recover more quickly, keeping operations on track.
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?
Limited company insurance is not universally required by law, but certain types are mandatory depending on your business circumstances. For example, employers’ liability insurance is legally required for UK businesses with employees (excluding direct family members).
However, other types of insurance, such as public liability and professional indemnity, are not legally required but are highly recommended. These policies offer important protection against unexpected financial losses and can help enhance your business’s credibility, as many clients will only work with companies that are fully insured.
Can I get limited company insurance online?
Yes, you can easily get limited company insurance online through numerous insurers who offer instant quotes. This makes it convenient to compare options and choose coverage that suits your business.
How can a limited company reduce the cost of insurance?
A limited company can reduce the cost of insurance by carefully tailoring its policy to suit specific business needs. By selecting a provider that offers customisable coverage, you can ensure that you're not overpaying for unnecessary add-ons or under-insuring key aspects of your business. Additionally, increasing your policy excess, improving risk management practices, and bundling multiple insurance types can further lower premiums and help keep costs manageable.
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References
1. Gov.uk statistical release Business population estimates for the UK and regions 2023