Industry sector: Business services

Office based: Insurance

When you start up in business you will need insurance cover. Contact an insurer and explain exactly how your business will operate. They will then be able to recommend what cover you should have. This will obviously be affected by the nature of your business, but might include:

  • employer's liability
  • public and product liability
  • professional indemnity
  • key-person cover
  • loss of earnings
  • premises, premises contents
  • business interruption
  • motor insurance

Premiums may be paid in a lump or they may be paid in instalments. Your insurer will be able to advise you of the amounts due - enter them in the months when you will pay them.

As with many other items of business expenditure, you can often save money by shopping around. Although many insurers can offer a complete package of business insurances, often at a competitive price, remember that you don't have to take out all of your insurance policies with the same insurer. Trade bodies and professional associations often offer specially tailored business insurance policies to their members at discounted rates.