When starting a business, it is essential to have insurance that protects the business you are creating and helps you meet any legal, licensing, or contractual requirements. The right insurance depends on your business activities, industry, contracts and risks. This is where working with a broker makes a real difference.

At Webber Insurance, we take the time to understand what you do, identify your risks and recommend cover that suits your business. We help you choose insurance that is not just off the shelf, but tailored to your needs.

Types of insurance to consider when starting a business #

The main types of insurance most businesses should consider include:

• Professional Indemnity Insurance: Protects against claims of negligence or errors in the advice or services you provide. This is essential for professionals such as engineers, consultants, designers and those providing technical or advisory services.
• Public Liability Insurance: Covers claims for injury to third parties or damage to their property as a result of your business activities. Important for most businesses, especially those working on client sites or where the public could be affected by your work.
• Business Insurance: A flexible package that can cover property, equipment, tools, stock and business interruption following insured events like fire or theft.
• Management Liability Insurance: Helps protect company directors and officers against claims relating to their management of the business. Can also cover employment practices liability, statutory liability and related exposures.
• Cyber Insurance: Helps protect your business in the event of a data breach, cyber attack, or similar incident that causes loss or liability.
• IT Liability or Tech Insurance: Provides tailored protection for technology businesses, typically incorporating professional indemnity, public liability, and other essential covers into a single package.

Examples of industry or occupational requirements #

• Engineers, designers, consultants: Often need professional indemnity insurance to meet contract requirements or comply with professional body rules.
• Builders, contractors, trades: Usually need public liability insurance as a minimum, along with contract works insurance if working on building projects.
• Tech businesses: Typically need a combination of IT liability or tech insurance and cyber insurance to protect against both service-related risks and cyber exposures.
• Mining and defence contractors (white-collar services): Professional indemnity insurance is usually a requirement to meet contract obligations, along with public liability or other specialised cover, depending on the nature of the work.

Why tailored advice matters #

Choosing the right insurance is not about one product being better than another; it’s about finding the best fit for your needs. It’s about finding the right level of coverage, policy structure, and insurer for what you do. At Webber Insurance, we will explain the options clearly and help you feel confident in your decisions.

If you’re starting a business and need help getting the right coverage in place, contact our team for expert advice.