In this guide, you’ll learn the key considerations, work through a practical example and find useful next steps. Take your time and use the free worksheets to put ideas into practice.
What you’ll take away
- Map business risks
- Check legal or contract needs
- Think about income interruption
Map business risks
Consider premises, equipment, professional services, customers and staff.
Check legal or contract needs
Some insurance is legally required in specific situations; clients may impose additional conditions.
Think about income interruption
Consider what happens if you cannot work or a key person becomes unavailable.
Compare exclusions
Review policy limits, excesses, exclusions and insurer terms.
What to gather
- List of activities and risks
- Client contract requirements
- Insurance quotes and policy wording
Putting your learning into practice
Use the guidance above to identify the information you need and the questions to investigate. Consider:
- Map business risks.
- Check legal or contract needs.
- Think about income interruption.
- Compare exclusions.
This is general financial education, not a personal recommendation, an assessment of suitability or an invitation to buy or arrange a financial product. Check current official information and obtain appropriate professional advice for individual circumstances.
Further help
For up-to-date rules and support, see this UK guidance resource. Check which rules apply in your part of the UK.
Keep learning
Use a worksheet to explore your own figures, or browse another topic in the guide library.
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