Business liability insurance is a combination of public liability and products liability, often known as general liability insurance in the United States. When comparing policies and providers, consider the level of cover each insurer can offer.
Businesses can face legal action for a wide variety of claims. The most serious of these and, as a result, the most expensive, tend to relate to claims of bodily injury, death or property damage concerning a member of the public, a customer or another third party. Neglecting your property, failing to carry out safety checks or a simple accident could all lead to a claim against your business.
Fortunately, business liability insurance is designed to protect companies financially for any claims brought against them by third parties for injury, illness or damage to property. This kind of cover can put your mind at ease and protect you against unforeseeable, or even unpreventable, events.
Finding a Provider
Once you’ve decided on the features your policy needs, it’s time to find a supplier. There are three primary routes to finding an insurer.
- Approaching insurers directly – It’s very common for commercial insurance providers to offer some kind of public liability insurance. Usually, insurers can offer a business liability insurance product combining public liability and products liability, even if it’s not named as such. If you already have either one of these covers in place already, it’s worth contacting your insurer to see if you can upgrade your existing product to a business liability policy. Many insurers provide details of the coverage they offer on their website, where you can generate an accurate quote for your company.
- Going through a broker – The role of an insurance broker is to find you the best possible coverage for your business at the most competitive price. Not only can they help you ascertain the level of cover you need, but they also have access to exclusive products which aren’t available to the general public. The savings you can make from these exclusive products tend to supersede the broker’s cut of commission, meaning you’ll receive a more extensive cover for a lower price, even after the broker has taken their share.
- Comparison websites – If you decide against a broker, a third way to find an insurer is to use a comparison website. These have become increasingly popular over the last ten years, with multiple sites appearing tailored to commercial customers. These sites are a helpful way to compare various products from multiple providers. You can also filter your search results by specific criteria, to find a solution that ticks all the boxes.
Business Liability Insurance Providers
This list is a useful starting point, highlighting some of the providers on the market offering business liability insurance.
Direct Line
Business liability insurance is available from Direct Line as part of their public liability insurance product, which includes product liability as standard. Cover limits range from £1 million up to £10 million, according to the needs of your business. Policy documents are available instantly to use as proof of cover to show to clients.
Direct Line is able to offer tailored solutions suitable for tradespeople, office workers and those in retail and hospitality. Existing Direct Line customers can obtain a discount, and they offer the added benefit of promising to beat renewal premiums from any other insurer. You can generate a quote online or over the phone, or use their live chat function for any queries.
Towergate
Towergate can offer tailored business liability cover, accommodating for all types of liability and business protection. Their flexible policies can cater to a broad audience, too, from independent contractors and sole traders to multinational corporations. Public liability cover is available from limits of £1 million up to £10 million alongside product liability insurance, with potential limits of £1 million, £2 million, £5 million and £10 million. This protection can apply to a wide range of product types, with coverage for goods sold outside the UK as well. Towergate Insurance has a 4.6 out of 5-star rating based on almost 10,000 reviews, and quotes are available through their website.
Markel UK
With an impressive Feefo rating of 4.8 out of 5, Markel has over 25 years’ experience insuring small and medium-sized businesses. Markel specialises in liability insurance, offering business liability in the form of their public liability insurance solution, which includes products liability as standard. Limits are available between £1 million and £5 million and policyholders receive instant access to their documents, enabling them to sign new contracts as soon as possible. Companies can access a quote online by answering a few straightforward questions.
RSA Group
With capabilities to write policies in over 170 countries, RSA Group is a sensible choice for any company with multinational or global reach. Their Risk Managed General Liability insurance comprises both public and products liability, with flexible features to cater to businesses’ individual needs. RSA Group is able to offer expertise in local markets spanning every industry, allowing for comprehensive support around the world.
All policies include RSA Risk Management services to help companies develop risk mitigation strategies and liability management programmes. They can offer particularly competitive plans tailored to the retail, food and drink, engineering, manufacturing and logistics sectors. RSA’s products are available exclusively through brokers.
Allianz
Businesses of all types and across all sectors can take out a general liability insurance policy with Allianz Global Corporate & Speciality (AGCS). They are a leading liability insurer, offering a range of tailored solutions to cater to the specific public and products liability needs of each customer. Their global reach is ideal for any multinational corporation that trades in multiple territories, as they can write policies in over 200 countries. As well as comprehensive public liability and products liability covering bodily injury, property damage and pure financial loss, the policy also covers project liability. You can find a programme through a broker.
AXA
Business liability insurance is available through AXA under their public liability insurance policy which includes product liability. They can offer policies with up to £5 million of cover for compensation payments, with the possibility to adjust this limit according to your business’ exposure to risk. The policy also includes £250 court attendance costs per day, legal costs of up to £1 million for claims of accidental bodily injury and damage to property as well as legal expenses of up to £1 million relating to health and safety negligence.
Customers can customise their policy, with the option to add employers’ liability cover, professional indemnity insurance or cover for tools and equipment. After taking out a plan, policyholders benefit from a helpline available 24 hours a day for legal support and advice. You can generate a quote on their website.
Superscript
One of the most flexible providers offering liability insurance is Superscript, who can provide innovative insurance solutions which work on a monthly subscription basis, which can adapt to and evolve with the company it insures. General liability insurance comes with their public liability insurance policy, which also includes product liability. Available limits are £1 million, £2 million or £5 million of indemnity.
Businesses looking for more comprehensive cover can opt for their essential covers policy, where customers can select from public liability insurance, product liability insurance, employers’ liability cover and business contents insurance. They offer solutions for over 1,000 business types, with particularly competitive products suitable for the tech and media industry, retail and e-commerce and professional services. You can generate a personalised quote in just ten minutes on their website.
Zurich
Boasting over 75 years’ of risk engineering experience and a network spanning over 200 countries, Zurich is able to write cohesive insurance programmes which offer coverage overseas. They offer business liability cover through their combined public and products liability policy, which comes with an indemnity limit of up to £10 million as well as PR assistance to mitigate damage from negative press coverage. It’s also possible to integrate product recall insurance into the policy, to protect companies from faults across entire product lines. Zurich’s products are available through brokers.
Aviva
Business liability insurance covering both public and products liability sits at the core of Aviva’s business insurance products, with the possibility to add additional features such as employers’ liability or cover for tools, stock and business equipment. Their business liability comes with a limit of £1 million as standard, with the option to increase it to £2 million or £5 million. They can also provide package policies for specific trades. Smaller companies can access a quote through their website, but businesses with more than nine employees must buy through a broker.
Bluedrop Services (Broker)
Companies looking for an extensive liability product providing comprehensive coverage can opt for liability insurance through Bluedrop Services. They can offer protection for any trade or service, with indemnity limits up to £10 million. Companies can build a bespoke policy, including business liability insurance (public and products liability), employers’ liability insurance, directors and officers’ liability insurance as well as employment practices liability. Policyholders can benefit from flexible payment terms, low excess fees and discounts for multiple policies. You can access a price estimation through their quick online quote tool.
Travellers
Offering a local approach with global reach is Travellers, who provide a business liability insurance product suitable for SMEs and multinationals alike. Their solution includes comprehensive public and products liability cover, with indemnity limits of either £5 million or £10 million. A significant benefit of a policy with Travellers is that they are also able to offer cover for court settlements and compensation payouts anywhere in the world, including a limit of up to £5 million in the United States and Canada. Travellers can also integrate legal expenses insurance into this product. Companies can access Travellers’ products through an independent broker.
Kerry London (Broker)
Founded 30 years ago, Kerry London matches specialist expertise with a personal service. Their team are dedicated to getting to know clients and understanding their insurance needs to offer them a bespoke policy through their panel of top-rated, niche insurers. To protect companies against business liabilities, they offer a combined public and products liability policy to cover claims of bodily injury and damage and loss to third party property. Policyholders have access to a specialist in-house claims team as well as their risk management partners, who can offer expertise across a range of sectors. To arrange a quote, you can get in contact over the phone, via email or request a callback.
