Everything you want to know about insurance

Some answers to things we typically get asked

Frequently Asked Questions

Why do I need business insurance?

Business is subject to a wide range of risks. Having the right insurance in place can cover you against mistakes, accidents, damage, theft and even legal expenses. However you need to know what the right business insurance is for you..

I am a sole trader, do I need business insurance?

You do indeed still need business insurance. As a sole trader you are personally responsible for the finances of your business and if you do not have the right insurance in place you could be risking a lot more than just your business.

I run an online business, what insurance do I need?

Even though you do not work face to face with your customers or have any real life communication with them you will still need to ensure that you are protected against any risks that may occur as a result of your day to day activities.

Is business insurance a legal requirement?

This will largely depend on the kind of business that you have and how you operate. If you employ any staff then you will need Employers Liability Insurance and some regulatory bodies in your industry may require you to have Professional Indemnity Insurance as part of your membership.

What type of business insurance do I need?

Once again this will really depend on the kind of business that you run.

If you interact with any third parties it is well worth considering Public Liability Insurance.

If you are offering advice or handling client data then Professional Indemnity Insurance could be vital for your business.

How much does business insurance cost?

The cost of your insurance will depend on the specific nature of your business and the level of cover that you require.

When calculating the cost of your insurance, the insurer will assess the cost of potential claims and the likelihood of such a claim being made. Generally if an insurer considers your business to be high risk then the cost will be higher too.

The right insurance for you should be at a price which is also right for you. We can run a quote for you so you can understand how much your premium would be.

How much business insurance do I need?

The level of business insurance that you need depends on the type of business that you run and depends on the specific risks that could relate to your business.

We can offer you a minimum of £1 million and a maximum of £10 million of Public Liability Insurance and between £50,000 and £2 million of Professional Indemnity Insurance.

Unless exempt you are legally required to have at least £5 million of Employers Liability Insurance. We offer £10 million of cover as standard.

The B.E.E.F.

The British Entrepreneurs and Enterprise Federation is the fastest growing business benefits club in the UK. The range of benefits is truly amazing, from £500,000 legal expenses cover to massive savings on car purchases. Click the link below to join today:

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Articles

Our articles section contains our knowledge bank of information about Commercial Insurance and how it can affect your business. The team of experts at CHAS have put together this section to share their knowledge to help you get the right cover.

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CHAS Insurance Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Conduct Authority Register www.fca.org.uk/register under reference 594605. Registered address: 20 Market Hill, Southam, Warwickshire, England, CV47 0HF. Registered in England and Wales 08299252 | CHAS Insurance do occasionally sell products that are not regulated by the FCA.

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Chas Insurance has been supplied data pertaining to Chas Members by the operators of the Contractors Health and Safety Assessment Scheme. We have no business connection with CHAS / the Contractors Health and Safety Assessment Scheme. CHAS / the Contractors Health and Safety Assessment Scheme receive no payments from Chas Insurance.