33 percent of start up businesses have no business insurance

Startling new research has shown that a third of all start up businesses are operating without business insurance. According to research conducted by Insurantz.com, the main reason for this is that business owners do not have the time to complete and understand insurance paperwork.  

It is highly advised that all businesses have public liability insurance. Without this, businesses are leaving themselves wide open to insurance claims that could ruin a business. However, if businesses employ temporary workers or sub contractors it is a legal requirement to have employer’s liability insurance and they face fines of up to £2,500 a day if it is discovered that they do not have this cover. 

According to the research, almost three quarters of start up businesses surveyed considered having a memorable business name, a good website and attractive marketing material to be more important than insuring their business.  

The main reason suggested as to why businesses hold business insurance in such a low regard is due to the fact that there are lots of forms to fill in and that business insurance is ‘too time consuming and overly complicated’

Constructaquote.com understands the pressures faced by start up businesses and as such our quick and easy to use quote and buy facility allows you to insure your business in a matter of minutes and download policy documents instantaneously. 

If for any reason you feel that you don’t understand any of the insurance products on offer, please feel free to call one of our dedicated sales members on 08081 68 68 68  who will be more than happy to explain anything to you.