Insurance terms explained

Confused as to what Business Insurance actually covers you for? Want to know more about the various types of cover such as Employers Liability and Public Liability, Professional Indemnity, Trade Contents etc. Simply click on the insurance terms below to find out a bit more about the typical insurance covers provided. For a full description please read our product-specific policy documents which can be found on our various product pages.

All Risks Tools and Equipment - covers hand tools and hand held portable power tools or their parts.
Buildings - cover is provided on an All Risks basis with the option to include damage caused by subsidence.
Business Interruption - designed to help you keep your business going if it is interrupted by a cause covered by the Trade Contents section. It covers loss of Gross Profit due to a reduction in turnover.
Computer Breakdown - Provides a wider cover than that given by the Trade Contents section on computer equipment including cover for damage or breakdown. Contract Works – covers contract works including materials and wages up to £250,000 in connection with any one contract.
Deterioration of Stock - covers loss of stock in any cold chamber or freezer by deterioration caused by a rise or fall in temperatures as a result of damage or a fault in the refrigeration machinery or accidental failure of the electricity supply.
Employers Liability - covers your legal liability if an employee is injured whilst working for you.
Engineering Insurance - covers you for accidental damage to plant and adjacent property, including breakdown of the plant.
Fidelity Guarantee - covers you for loss of money or goods caused by the dishonesty of your employees.
Glass and Sanitary Fittings – covers breakage of fixed, plain and wired glass and sanitary fittings.
Goods in Transit – covers stock and business goods whilst in transit anywhere in the United Kingdom.
Hired In Plant – covers temporary buildings, plant and equipment which you have hired.
Legal Expenses – provides you with legal advice and protection from the legal costs and expenses of legal actions relating to:
Bodily Injury
Employment Disputes
Legal Defence
Property Protection
Tax Protection
Loss of License – covers loss of Gross Profit if the liquor license is forfeited, suspended or withdrawn.
Machinery and Plant Inspections – covers you for inspection of your plant to meet statutory requirements and Government recommendations.
Money and Personal Assault – covers loss of business money and provides compensation for an accident sustained as a direct result of an attack whilst carrying on the business.
Own Plant – covers temporary buildings, own plant, own tools and stock and materials in trade.
Personal Accident – covers you or your business partners or directors against accidents occurring at work or in leisure time.
Portable Business Equipment – covers damage to specified items of business equipment away from your premises.
Professional Indemnity – protects your business against compensation sought by a client if you have made mistakes or are found to have been negligent in some or all of the services that you provide for them.
Property Owners Liability – covers your legal liability to pay compensation to third parties if they are injured or their property is damaged as a result of an accident caused by you or your employees.
Public and Products Liability – covers your legal liability to members of the public and for claims arising from products sold or supplied by you.
Temporary Employees – covers Public Liability and Employers Liability for temporary employees.
Trade Contents – provides All Risks cover for loss or damage to all trade contents (including stock, goods in trust, fixtures and fittings).