If you run a business or any sort, you’ll most likely need insurance of some kind. Business insurance comes in three main kinds:

Public liability insurance. Public liability insurance covers you should someone make a claim against you after injury or damage to property. Claims could also be made against you away from your property as well if you’re making a sales call or visiting a building site. Many business clients will want to see a copy of your public liability insurance before they work with you, especially local authorities.

Product liability insurance. Product liability insurance is a must for anyone selling products to the general public. If somebody is hurt or suffers a loss due to your product then you are liable and they may well make a claim against you.

Employers liability insurance. If you employe staff, you’re responsible for the health and safety of your employees and if something happens to you while they’re at work which they believe is your fault, they may make a claim against you. The Employers Liability (Compulsory Insurance) Act 1969 (ELCA) means it’s compulsory to have £5 million worth of cover, and more is advisable.