The circumstances of every practice might be different each time so it is essential to assess the individual requirements for insurance cover under each individual case. In broad terms however, if you’re running your own business, employing at least one person and using a car to visit sites/clients the following types of insurance should already be considered:
| INSURANCE TYPE | USE | REASON | |
| Legally obliged to have | Professional Indemnity Insurance (PII) | Any form of practice | Covers the cost of compensating clients for loss or damage resulting from negligent services or advice provided by a business or an individual. |
| Employer’s Liability Insurance | If you have employees | To cover the cost of compensating employees who are injured or become ill through work. | |
| Commercial Motor Insurance | If your business uses vehicles | If your business uses vehicles. | |
| Optional | Commercial Property Insurance | Any form of practice | Covers the cost of repairing or rebuilding your business premises or replacing your stock or equipment. |
| Public Liability Insurance | Any form of practice | Covers the cost if a member of the public or a professional is injured in your business premises or if you damage something that belongs to someone else during a site visit. | |
| Director’s & Officers Insurance | Limited company | Covers the legal liabilities you have as a director of a limited company and any legal costs if you get something wrong. | |
| Buildings Insurance | If you own the premises | Covers any damage to your premises in the event of a fire, flood or some other catastrophe. | |
| Life Insurance | Any form of practice, apart from Sole Practitioner | Protects other member(s) of the partnership/company in case of health issues. | |
| Key person Insurance | Any form of practice, apart from Sole Practitioner | Protects other member(s) of the partnership/company in case of long term absence from his duties which might lead to loss of income for the business. |
