{"id":578,"date":"2023-08-17T08:58:49","date_gmt":"2023-08-17T08:58:49","guid":{"rendered":"https:\/\/www.simplybusiness.co.uk\/business-insurance\/faq\/how-much-business-insurance-do-i-need\/"},"modified":"2026-02-03T12:42:21","modified_gmt":"2026-02-03T12:42:21","slug":"how-much-business-insurance-do-i-need","status":"publish","type":"page","link":"https:\/\/www.simplybusiness.co.uk\/business-insurance\/faq\/how-much-business-insurance-do-i-need\/","title":{"rendered":"How much business insurance do I need?"},"content":{"rendered":"\n
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How much business insurance do I need?<\/h1>\n\n\n\n
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Start your quote<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n

What level of business insurance do I need?<\/h2>\n\n\n\n

The amount of insurance you need depends on your business. Sometimes your client contracts or your regulatory or professional body will specify a particular level of cover. Most businesses with employees are legally required to have at least \u00a35 million of employers\u2019 liability insurance<\/a>.<\/p>\n\n\n\n

When you\u2019re deciding how much cover you need, you should think about the size of your contracts and the scope of the work undertaken by your business: what level of compensation payments may you face if something goes wrong?<\/p>\n\n\n\n

You should also check the handbooks of your professional body or regulator, as some set minimum cover levels for their members.<\/p>\n\n\n\n

Simply Business offers \u00a31 million to \u00a310 million of public liability insurance<\/a>, and \u00a350,000 to \u00a32 million of professional indemnity insurance<\/a>.<\/p>\n\n\n\n

If you have any employees, you\u2019re usually legally required to have at least \u00a35 million of employers\u2019 liability insurance. We offer \u00a310 million as standard.<\/p>\n\n\n\n

If you\u2019re insuring your business buildings<\/a>, you need to think about how much it would cost to rebuild your premises from scratch, and if you\u2019re insuring your business equipment<\/a> or tools<\/a> your cover level is based on the cost of their replacement.<\/p>\n\n\n\n

Popular trades we insure<\/h4>\n\n\n\n

At Simply Business we insure all kinds of trades like:<\/p>\n\n\n\n