SME Insurance

SME insurance
Small Business Insurance Backed By ‘Exceptional’ Service

Want to save money on your SME insurance?  Let the insurance specialists at Coversure Hull compare our markets to find you the business insurance that’s right for your company.  Whether you need public liability, employers’ liability or commercial combined insurance, call us today on 0800 977 6037 and let our award-winning team help you.

Get A Quote

SME insurance backed By ‘Exceptional’ service

Our award-winning team is rated as ‘Exceptional’ by feefo and with over 50 years of small business insurance experience, you can rest assured you’re in safe hands.  Being independent we can put your needs first, and we’ll compare the market to find you great cover for a great value premium.  To find out more, call us free on 0800 977 6037 or start your commercial insurance quote today.

What is SME insurance?

SME insurance, or small business insurance or commercial insurance as it’s also known, through Coversure Hull is a flexible policy that provides small and medium- sized enterprises with a range of essential protections on one policy. We can tailor cover to your needs, and it can cover everything from your premises and stock to your employers’ liability and business vehicles.  SME insurance through us can protect you financially from:

  • Injury or property damage caused by your business
  • Damage or theft of your business’s property or equipment
  • Sickness or injury to your staff resulting from your business’s activities
  • Business interruption through temporary closure
  • The effects of a cyber attack
  • Loss of money
  • The risk of legal action from professional indemnity claims
  • Damage, theft or loss of stock

Who needs SME insurance?

Any small or medium-sized enterprise (SME) can take advantage of the protection that SME insurance can bring.  Indeed, while it’s called SME or small business insurance, it can protect not-for-profit organisations too.  The following list covers just some of the types of organisations it can poretced:

  • Builders
  • Shops
  • Manufacturers
  • Business consultants
  • Online businesses
  • Distributors
  • Hotels
  • Charities
  • Offices
  • Cafés
  • Pub and wine bars
  • Accountants
  • Lawyers
  • Motor traders
  • Wholesalers
  • Barber shops and salons
  • Financial services businesses such as financial advisors
  • Salons and barbers

That is to name but a few.  To find out more or to get an SME insurance quote, please call us free on 0800 977 6037.  We’ll get to know your needs before comparing our markets to find you the commercial insurance that’s right for your organisation.

What can small business insurance cover?

SME insurance through Coversure Hull can be tailored to your needs, but it commonly includes:

  • Public liability insurance – covers you should a member of the public injure themselves or if their property is damaged while you are working.  It covers the cost of claims made by members of the public for incidents that occur in connection to your business’s activities, for example, if they slip on the floor and decide to sue you, you’ll be covered

  • Employers’ liability insurance - is a legal requirement if you have employees.  It provides cover in the event of an employee injuring themselves or if their property is damaged while at work.  The law says that if you employ at least one person, you must have employers’ liability insurance (sometimes called ‘E.L. insurance’) in place to protect your employees in case they are injured or become ill as a result of working for you.  Your policy must:

    • Cover you for at least £5 million – some companies take £10 million or more
    • Be with an authorised insurer
    • And employers must provide a safe working environment

  • Fleet insurance - if you have two or more vehicles associated with your company – be they cars, vans, plant or trucks - you can save time and money by insuring them with fleet insurance.  Fleet insurance through us means you can:

    • Save money – by insuring multiple vehicles with business fleet insurance, you can reduce your per-vehicle insurance costs

    • Save time – having one policy to administer means fleet insurance can save you administration time versus having to look after several single vehicle policies

    • Flexibility – you can add or remove vehicles and drivers as you need to, and you can also insure all drivers to drive any of your vehicles should you take out an any-driver policy

  • Get cover for complex driving risks – whether you need cover for young or newly qualified drivers or even those with a chequered claims history, an any-driver policy could enable you to insure the drivers you need more easily

  • Product liability Insurance - if the products you use, recommend, or sell cause problems, you can be held liable.  Products are central to many businesses, and if something goes wrong, you can be liable for claims and compensation.  Should this happen to you, product liability insurance covers the costs of any compensation you are made to pay, together with the legal fees

  • Cyber insurance - Cyber-attacks are dangerous, potentially costly, and on the rise.  Half of businesses (50%) and around a third of charities (32%) have reported having experienced some form of cyber security breach or attack in the last 12 months.  This is much higher for medium businesses (70%), large businesses (74%) and high-income charities with £500,000 or more in annual income (66%), according to The Department for Business, Innovation and Skills 2024 report.  Today, cyber insurance can be considered as essential as protecting your stock or employees. Cyber insurance allows you to remain protected from the costs of ransomware attacks, data loss, reputational damage, and more

  • Professional indemnity - if you advise customers or provide a service and are required to advise on best practice, you should consider having professional indemnity insurance.  Professional indemnity insurance – P.I. insurance – will shield you financially should you be sued for losses by a customer for giving them poor or misleading advice

  • Directors’ and officers’ insurance (D&O insurance) - as the business’s leaders, senior figures can be personally liable for a business’s actions and face hefty financial losses should legal action go against them. Directors’ and officers’ insurance – or D&O insurance as it’s also known – protects your senior members from the costs of legal action, allowing them to focus on their jobs

  • Personal accident insurance - protects your organisation should someone be involved in an accident at work.  It will pay out in the event of death, bodily injury, or disablement.  The compensation provided can pay for temporary staff or cover the overtime cost for other team members

  • Business Interruption insurance - if something catastrophic happened – such as a fire or flood – and your premises were forced to close for a while, could you cope?  With no money coming in and bills needing to be paid, would you be able to keep going?  Business interruption cover provides you with an income while your business is out of action, providing much-needed peace of mind in a time of stress

  • Commercial buildings insurance - if you own the building in which your organisation operates then you need commercial buildings insurance to protect it.  Buildings insurance protects you from the cost of repairing or rebuilding your building if it’s damaged by risks such as floods, fires, vandalism, or an explosion

  • Stock insurance - whether you’re running a shop, pub or restaurant, distributor, or manufacturing plant you’ll want stock insurance to protect your goods – particularly if you stock expensive items like technology, art, or alcohol.  Stock cover assists with the costs of replacing or repairing your inventory if it’s damaged, lost, or stolen. Stock insurance protects your supplies in the event of storm damage, flood, fire, or theft—a crucial policy element given how expensive your stock can be

  • Goods in transit – if your organisation carries its own goods, does customers’ deliveries or carries other people’s goods for money then you should consider adding goods in transit insurance to your SME business insurance.  Goods in transit insurance can protect goods from loss, theft or damage while being moved

How much does SME insurance cost?

At Coversure Hull we don’t believe in one-size-fits-all solutions for our clients.  Instead, we’ll get to know your needs and create a package of cover that fits your requirements.  What we can say is that your commercial insurance quote will depend on things like:

  • The size of your business
  • The type of work it does
  • If you have employees
  • If you have stock and what type of stock you hold
  • If you have any vehicles
  • Its postcode
  • If you have a commercial property to cover
  • Your claims history
  • How long you have been trading for
  • If you need commercial property insurance

If you’d like to know how much an SME insurance policy will cost you, please get in touch.  You can call us on 0800 977 6037 or start your SME insurance quote today.

SME insurance FAQ

Small business insurance is a complex area of cover and it’s important to get it right.  To help you get the cover that’s right for you, here are our SME insurance frequently asked questions.  We hope they will prove helpful, but if you’d like to get some independent advice, then please call us free on 0800 977 6037.  Our team of commercial insurance specialists will be happy to talk you through the options to ensure you get the protection that’s right for you.

Q. Who needs SME insurance?
A. Any organisation that has employees, property or dealings with the public can take advantage of the protection SME insurance can bring.  It’s not just for businesses.  Charities and other not-for-profit organisations can benefit too

Q. Is SME insurance a legal requirement?
A. No, though if you have employees, you will need employers’ liability insurance as that is a legal requirement

Q. How much does SME insurance cost?
A. That will depend on things like if you have any employees, vehicles, commercial property, and the value of your equipment and stock.  if you’d like to get some independent advice, then please call us free on 0800 977 6037

Q. Do I need SME insurance if I am self-employed?
A. It depends on what you do and where you do it.  If you’re a tradesperson working with the public, you would want public liability cover at the very least.  If you employ people, you’ll need employers’ liability insurance.  If you give advice, then you’d be wise to have professional indemnity Insurance too.  In short, if you are self-employed, you’re probably best off having business insurance in place

Q. Can SME insurance protect stock, materials and supplies?
A. Yes, it can insure these items against loss or theft, and can also protect expensive items such as machinery or office equipment

Q. Do I need small business insurance for an online business?
A. Yes, if you sell online and have stock, employees, or a warehouse then small business insurance would make sense.  It would also be a good idea to consider cyber insurance as online traders are a target for cyber-criminals

Q. Can I get SME insurance before registering my business?
A. Yes, you can take out business insurance before starting trading, even if your business isn’t VAT-registered or a limited company

Q. How can I get an SME insurance quote?
A. Getting a commercial insurance quote from us is easy.  You can call us on 0800 977 6037 or get your commercial insurance quote here.  Thanks to our wide range of insurance providers, we can compare our markets to find you the cover you need at a premium you’ll like.

Get an SME insurance quote

If you'd like some SME insurance help or a commercial insurance quote, call us on 0800 977 6037.  We can give you all the advice you need and can compare our markets to find you the cover you require.