When you start up in business you will need insurance cover. Professional Indemnity Insurance cover is vital - the Financial Conduct Authority requires you to have it - and this may be included in the membership charge if you belong to an IFA network.
Other insurance cover you might need includes:
- premises, premises contents, computers and computer records
- business interruption
- loss of earnings
- employer's liability
- public liability
- motor insurance (for business vehicles)
Premiums may be paid in a lump or they may be paid in instalments. You should enter premium payments in the months when you will pay them.