Types of business insurance generally depend on either of these two considerations:
- what this type of business insurance policy covers,
The first category consists of individual insurance products, while the second is about business insurance bundles or packages.
The first category may therefore include the following individual types of business insurance policies:
- tool insurance,
- credit insurance,
- goods in transit insurance,
- building insurance,
- business interruption insurance,
- key person insurance,
- business stock insurance,
- business contents insurance,
- public liability insurance,
- employer’s liability insurance,
- professional liability insurance,
- business equipment insurance,
- front of premises insurance,
- business travel insurance…
In some cases, as with employer’s liability insurance, businesses might be required by law to subscribe a certain type of business insurance.
The second category of business insurance may then include the following types of business insurance packages:
- shop insurance;
- tradesman insurance,
- self-employed insurance,
- restaurant insurance,
- takeaway shops insurance,
- pub insurance,
- small hotel insurance.
There again, specific industries may be required by law to subscribe to certain types of business insurance policies, so interested business representatives should seek advice from their legal experts to understand what business insurance policies they should get.
An additional question: Respond to this Question
- What is a business insurance?
- Who needs a business interruption insurance?
- What is product liability insurance and who needs it?
- Is business insurance mandatory in the UK?
- How often do I need to review my business insurance policy?
- What is employer’s liability insurance?
- Do I need key person insurance for my company?
- What is workers’ compensation insurance?
- What is public liability insurance?
- As a business owner, should I consider taking a life insurance?
- Should I take contents insurance for my business?