What is SME Insurance?

SME insurance is for small to medium sized businesses who want to protect themselves against losses that happen from day to day business activities -particularly when a compensation claim is made.  A wide range of risks is covered from property damage to business interruption to public and employers liability. Whether you are a two-partner team or a business with multiple offices, this insurance is designed to cover your specialist business needs.

What type of SME business insurance do I need?

Choosing the right insurance cover depends on the profession or trade you work in. In the UK, businesses are required by law to have employer’s liability insurance to protect against claims made by their employees for injury or illness resulting from their work. In addition to compulsory insurance, certain clients or professional bodies may require you to have specific amounts of insurance. SME package insurance provides cover for all the major risks facing a business owner into one bundle and is, therefore, more cost effective than purchasing separate insurance policies. For example, public liability and office equipment policies can be individually purchased but under a package policy there would be no difference in the insurance cover provided and the combined policies would lead to a more competitively priced premium. You may however only require public liability insurance if you are a building contractor or professional indemnity insurance if you are a self-employed business consultant.

Why choose Stanhope Cooper Business Insurance?

Stanhope Cooper is an award-winning, family owned and run insurance brokers, based in the City of London. Using an insurance broker allows you to compare quotations from a number of leading insurance companies. If you are not sure of what insurance is right for your SME, then we can independently advise you on how to build and choose the right insurance programme for your company.