Most businesses own physical assets – such as buildings, tools, machinery, stock, fixtures and fittings – and commercial property insurance is the best way to protect it from a wide variety of risks.

You have a legal liability in the event that any employee suffers injury in your workplace. Employers Liability covers you in the event that an employee suffers injury or illness as a result of carrying out their duties at work.

Protecting your employees in the event of injury may not be enough. If non-employees visit your business, then it is important to cover the risk of third-party damages to your property, and the possibility that visitors could get injured as a result of your business’s activities.

If you are a partner, director, or officer of a company, then you have certain responsibilities to employees, investors, regulators and members of the public. And, as a result, you are personally liable for any errors or omissions made in your performance of company duties. Management liability protects you in the event of claims that result from this dereliction of duty, which could otherwise lead to fines, compensation, or imprisonment.

If you provide advice or professional services to clients, then you are strongly advised to carry Professional Indemnity cover. This type of insurance can protect your business by providing for compensation claims and legal fees that might arise if a client experiences financial or professional loss due to negligence as a result of your business activities.

This type of cover can protect your business in the event that it suffers a sudden interruption in trading due to an insured incident relating to property covers (for example, a fire at your premises). In that eventuality, you will suffer a loss of income. Business Interruption cover is the easiest and most comprehensive way to protect against that loss of income.

Commercial Vehicle Insurance provides cover for a vehicle that your business uses for commercial purposes, such as a van or company car. It includes coverage for the transport of a business’s own goods, as well as Hire and Reward use, meaning the transportation of others’ goods for payment.

If your business owns multiple vehicles, you will want to consider fleet insurance. This provides one policy for all of your vehicles, which leads to less administration (you can renew all your company cars or trucks on a single date, and only need one claims contract). It also allows for greater flexibility, letting you add and remove vehicles easily during the course of the policy and not requiring you to name individual drivers for each vehicle.

This type of insurance product is industry-specific to the auto trade. It provides coverage for anyone who runs a business that involves vehicles like cars, motorbikes, vans or buses. That could be the buying and selling of vehicles at dealerships, offering repair services at a garage, a valeting business, or anything else where the product or service on offer concerns vehicles.

This form of cover protects landlords from the risks associated with owning rental properties. In addition to buildings and contents insurance, which is usually included in products such as these, it may include particular types of coverage specifically applicable to landlords. Examples of the latter include property owners’ liability, loss of rent, and tenant default insurance.

Many businesses require owners and employees to travel on a regular or semi-regular basis. If your company has such requirements, then purchasing an insurance product that provides protection for travel undertaken for commercial purposes (such as ticket-loss due to air-travel cancellations) is a highly recommended move.