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Small business insurance
Specialist insurance that protects against the risks in your trade from £5 a month*.
Fast, easy online quote in 90 seconds
24hr legal advice helpline included
No hidden fees or cancellations
Small business insurance is designed to cover risks facing professionals, contractors, freelancers and self-employed business owners. Our specialist business insurance comes expertly designed based on over 25 years’ experience insuring UK businesses.
What is business insurance?
Business insurance covers you from unexpected losses you might suffer in the course of your normal business activities. There are many different types of financial cover available under the umbrella of business insurance protection, from employers’ liability protection and business indemnity insurance to home business insurance.
Other important forms of SME business insurance and small business cover are tailored to suit the size of your business and the way it operates, such as self-employed business insurance, sole trader business insurance, and online business insurance.
Cover starting at
£5 a month*
*The £5 a month premium referenced is based on a public liability insurance policy (including products liability) with a £1 million level of cover for a marketing consultant.
Who needs Business Insurance?
As a business owner, freelancer, consultant or contractor, you’ll face risks that could result in you facing legal action and financial losses.
For example:
Small business insurance protects you and your employees while your company recovers from such setbacks. Having business insurance in place can help you safeguard the future of your company, and it delivers real peace of mind.
We cover over 200 professions from £5 a month*, with the option to pay in 10 interest-free monthly instalments. Our wide range of small business insurance products covers a wide range of needs and eventualities.
Why choose Markel Direct for small business insurance?
At Markel Direct, we know exactly what you need to protect your finances. Below are just some of the reasons why you should take out a small business insurance policy with us:
Example policy documents
If you have an existing policy with us, please sign in to view your policy documents.
Below you will find examples of the documents provided.
Why every company should consider business insurance
Some clients and trade bodies may require you to have some form of small business insurance in place before signing contracts or allowing you to gain membership. In addition to this, there’s a multitude of potentially unforeseen setbacks that could impact you, your company and/or your employees. Take a look at our article to find out for yourself just why every company needs business insurance.
From general business insurance to business contents insurance and beyond, there are a variety of Markel Direct business insurance covers to suit all businesses and business needs.
What small business insurance do I need?
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Professional indemnity insurance
Professional indemnity insurance covers the cost of legal defence against allegations of substandard services or advice, along with cost of damages awarded against you. If you provide a service or advice to clients, consider taking out this form of business indemnity insurance.
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Public and product liability insurance
Public and product liability insurance covers the cost of legal defence and compensation payments for claims brought by third parties who are injured or suffer property damage due to your business activities or products.
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Employers' liability insurance
Employers’ liability insurance covers your business against claims made by workers who suffer illness or injury due to their employment. If you employ staff, it is likely you will be required by law to have this type of cover.
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Legal expenses insurance
Legal expenses insurance covers the cost of defending or pursuing legal actions against other parties such as suppliers, clients or employees.
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Directors and officers insurance
Directors and officers insurance covers company officers’ or directors’ legal liability for wrongful acts committed, such as misappropriation of tax payments or health and safety negligence.
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Office insurance
Office insurance protects your office building, contents and computer equipment against accidental damage and theft. Includes business interruption cover and an option to insure off-premises equipment.
Take a look at our ‘What is business equipment insurance?’ article for further insight.
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Cyber and data risks insurance
Cyber and data risks insurance protects your business if you’re a victim of a cyber attack on your IT systems and data.
How it works
Choose the cover you require
Get a quote you need in minutes
Buy online or contact one of our advisors
How much does business insurance cost?
When securing business insurance, the cost of your policy will depend on the level of coverage you require and the risks you face, in addition to a variety of factors including:
- The size of your business
- The industry you operate in
- The nature of your business
Here at Markel Direct, you can safeguard your business with small business insurance coverage from £5 per month*.
*The £5 a month premium referenced is based on a public liability insurance policy (including products liability) with a £1 million level of cover for a marketing consultant.
Ready to build your quote?
Our simple quote process will help you to find the right business insurance for your individual needs.
Some of the 200+ professions we can insure
Frequently asked questions
These frequently asked questions are designed to help you and include questions relating to policy cover, pricing and ‘technical’ terms.
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Is business insurance a legal requirement?
Most types of business insurance are not a legal requirement. Employers’ liability cover is an exception to this. It is a legal requirement for businesses that have workers, even on a part-time or temporary basis. It’s also important to bear in mind that other types of insurance, such as professional indemnity cover, might be required by regulatory bodies within your industry. It may also be specified in your contract with a client that you’re required to hold certain types of business insurance before beginning the work.
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Can I get insured before I register my business?
It is possible to get business insurance before you register your business and before you start trading. However, insurers will need to know details such as your business address, trade type, projected turnover and business structure (for example, limited company, sole trader, etc).
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Can I still be insured if I have had a CCJ/IVA?
Some insurers are stricter than others when it comes to CCJs (County Court Judgments) and IVAs (Individual Voluntary Arrangements), but having a CCJ or IVA doesn’t necessarily mean you can’t obtain business insurance. If you have a CCJ or IVA and would like to insure with us, please call our team on 0800 640 6600 so that we can understand more on your personal circumstances to see if our insurance would be suitable for you.
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Do I still need small business insurance if I work from home?
Working from home does not mean you don’t need small business insurance. For example, if you have employees, you will still require employers’ liability insurance, and if you provide professional services or advice to clients, it is strongly recommended to take out professional indemnity cover. There may also be a variety of other types of small business insurance that you need.
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Can I run a business without business insurance?
With the possible exception of employers’ liability cover, business insurance isn’t legally mandated. However, you should consider the risk to your finances of operating without the relevant types of protection in place.
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What limit of cover should I choose?
When choosing your limit, you should first check if your clients require you to have a certain amount of public and product liability, or other type of business insurance, before entering into a contract with you.
If there is no requirement, make sure you have considered worst-case scenarios and the costs that could likely be involved with not only defending the allegation, but also the compensation you might have to pay to correct your mistake. Markel offers limits ranging from £1 million to £5 million, so you’ll get the right cover for your business’ needs.
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My business undertakes work with clients outside the UK - can you provide cover for it?
We are able to insure businesses that undertake a small amount of work from clients based overseas, however it is subject to our underwriting criteria. Get a quote now to find out.
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How are Markel Direct regulated?
Markel Direct is a trading name of Markel International Insurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Find out more on the Financial Services Register.
We are a division of Markel International, a Lloyd’s of London market insurer that wrote gross premium totals of £2.4bn in 2023.
Can't find the answer you are looking for? - Contact our experts
Access specialist business services as part of your policy cover.
As a specialist insurer of accountants and bookkeepers, we provide a range of useful services for you to access, included as standard with certain covers.
What is included:
Existing customer?
Whether you need to renew a policy, or modify an existing policy, or simply have a question, contact us.