AXA Business Insurance
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AXA offers business insurance to help you prepare for the things that can go wrong, whether you’re a self-employed solo outfit or a small business with staff.
Its business cover can offer financial protection from the cost of legal action or claims made against you. This might be useful if, for example, your business comes into contact with the public or clients, offers professional advice or products, or has employees.
You can build your own business insurance policy, so you have cover for the kinds of risks your profession or particular setup faces.
AXA insures over 645,000 businesses in the UK and Ireland, with its origins stretching as far back as the 1800s. Here’s our overview of what AXA business insurance can offer today.
What is AXA business insurance?
AXA offers protection for businesses through a range of different cover types that you can combine or take out as standalone cover. These can cover anything from help with legal and compensation costs if your business causes damage or injury to others, to insurance for stock and equipment.
The idea is you only buy the types of cover you need, so you have business insurance that protects the type of risks your profession and operation faces.
When it comes to business structure, sole traders, partnerships and limited companies are eligible for cover.
» MORE: What is business insurance?
What types of business insurance does AXA include?
Like most business insurance, AXA offers employers’ liability insurance, public liability insurance and professional indemnity insurance. These can help cover legal and compensation costs if accidents happen, mistakes are made, or if your business is hit by other unexpected events.
And when it comes to premises, stock and equipment, there is also business buildings insurance and contents insurance – along with van insurance for your vehicle and landlord insurance if you rent properties out.
You can combine different cover types and add on the cover you need, so the policy exactly matches what you need for your business, or get standalone cover if you just need one type of protection.
Separately, there is also AXA business medical insurance for employees, with various payment plans and levels of cover available.
How to get a business insurance policy from AXA
You can get a quote for cover online or over the phone. Currently, you may be able to get a discount on your premiums if you apply online.
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How much does AXA business insurance cost?
The price of business insurance isn’t the same for everyone, so there’s no exact figure we can give you.
Ultimately, the premium that AXA will calculate for you will depend on which types of business insurance you want to include and the amount you need, along with things like:
- the type of business
- annual business income
- number of employees
- claims history
What professions does AXA cover?
AXA covers a number of trades and professions with its business insurance. There is an A to Z of types of trades covered on its website, but if yours isn’t included, you can call them to ask if there is cover available for the type of risks your business faces.
Some of the professions and business types AXA mentions are:
- domestic services
- landscape and gardening
- IT contractors
AXA Business Insurance FAQs
How do I cancel my AXA business insurance?
You can cancel your AXA business insurance through your online account from the policy details option, or you can do it by phone or webchat.
You can cancel your policy whenever you like, though you may be charged an administration fee and you won’t be refunded for the days you have been covered. Once you have cancelled, AXA will let you know if you are due a refund on your premiums and how much that will be. If you’ve made a claim on your policy during that policy year, you’ll need to pay the full annual premium.
How much is the AXA cancellation fee?
Any fee for cancelling your business insurance will be detailed in your policy documents, once you have taken out cover.
The amount of premiums paid that might be refunded minus any cancellation fee might depend on:
- whether you cancel before or after the policy start date
- how much time is left on your policy
- if you have made a claim on the policy
What does AXA stand for?
AXA isn’t an acronym. The three letters just make up the name AXA. The name was devised in 1985 to sound the same and be read in all languages, and to bring the group’s French acquisitions under a single name.
Holly champions clear, jargon-free writing. She’s been creating finance content for leading organisations for over 10 years. Read more
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