Types of Business Insurance When You’re Self Employed

    What is Self Employed Business Insurance

    When you’re self employed insurance offers you protection and peace of mind.

    Here I look at the different types of self employed insurance, help you decide what you need & show you where to get online quotes.

    Types of Business Insurance When You’re Self Employed

    Insurance protects you against risks. For example the risk of theft, getting sick or accident.

    When you take out an insurance policy the insurer calculates the likelihood of a risk happening and uses that to determine how much you pay.

    When you’re self employed it’s your responsibility to:

    • Work out if you need insurance
    • Pay for insurance yourself
    • Make sure the insurance policy is right for you and your business

    One insurance policy covers you against one particular risk.  Therefore you may need to take out more than one type of business insurance. But these will be included in a single insurance policy if you choose a provider.

    Here are some of the most common types of Self Employed Business Insurance:

    • Professional Indemnity
    • Public Liability
    • Product Liability
    • Business Equipment
    • Business Interruption
    • Employers Liability
    • Business Motor

    Do you need insurance when you’re self employed

    It is not a legal requirement to have insurance for many self employed individuals.  Despite this, many choose to take out insurance regardless to:

    • Protect themselves in the event of a claim
    • Cover the cost of replacing expensive equipment in the event of loss, damage or theft
    • To meet client requirements

    You can get insurance quotes over the phone or by going online.  The key is to make sure you take out the right insurance for you, so you are correctly covered.

    How to get insurance quotes when you’re self employed

    Going online can be done quickly and easily and most insurers offer a full list of trades/professions to choose from.  That way the quote you receive is tailored to exactly what you do. Most insurers will call you before you have to pay for the quote, that way they can check all the details and that the policy is right for you.

    Here are four insurers who give online insurance quotes:

    InsurerAxa **HiscoxPolicy Bee **Simply Business
    Professional Indemnity
    Public Liability
    Product Liability
    Business Equipment
    Business Interruption
    Employers Liability

    Business Insurance Self Employed

    Axa Insurance
    Best all-rounder for low-cost online quotes
    Get your quote now >>

    Axa is one of the biggest and most established insurance companies in the world. They specialise in a wide range of insurance so they are ideal for any type of business of any size.  

    Axa also offer a 10% discount on all online insurance quotes.

    Hiscox UK
    Best for tailored online insurance quotes that you can buy instantly
    Get Your Quote Now >>

    Hiscox offers one of the most powerful online business insurance quotation makers. It’s simple and puts you in complete control.

    Hiscox allows you to build a fully bespoke package by letting you:

    • Add a huge variety of insurances to your quote;
    • Use sliders to adjust your own level of cover;
    • Adjust your excess.

    Once you have reviewed your quote you’re given the option to buy it there and then, paying either annually or setting up a direct debit.

    Policy Bee
    Best for competitive online professional indemnity insurance quotes
    Get Your Quote Now >>

    Policy Bee specialise in professional indemnity insurance for professionals starting at £8/month. So this is the perfect insurer if you are self employed professional in industries like:

    • Accountant or Bookkeeper
    • Copywriter
    • Recruitment consultant

    Click here to find out more and receive an additional 10% extra off your insurance quote.

    Simply Business
    Best for specialised self employed business insurance quotes
    Get Your Quote Now >>


    Simply Business are a purely online insurer specialising in a full range of self employed trades/professions.

    They offer competitive rates and their specialism within the self employed world means they are perfectly place to support you through finding the right insurance policy for you.

    When you’re self employed, every penny counts.  So if you are starting out ALWAYS:

    • Get more than one insurance quote to check the price you’re being quoted;
    • Be honest on your application so you get the right insurance policy;
    • Do a review every year before you renew to check you are getting the best price.
    Anita Forrest
    About Anita Forrest

    Anita is a Chartered Accountant with over a decade of working with small business owners. She is the creator of the ‘Go Self Employed’ website, where she simplifies complicated self-employment topics such as taxes, bookkeeping, banking and insurance.