Hiscox Business Insurance

Over 1,000 UK trades covered with one of the UK's biggest small business insurance brokers_ Get multiple quotes and buy online in minutes

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Information written by Connor Campbell Last updated on 16 August 2022.

From sole traders to small to medium-sized enterprises (SMEs), Hiscox offers business insurance to over 400,000 professionals and organisations in the UK. It also underwrites international businesses via the Lloyd’s insurance market.

Headquartered in Bermuda, Hiscox business insurance has roots going back to 1901 when A E Roberts began underwriting marine insurance at the Lloyd’s market. Since then, it has expanded to 35 offices in 14 countries across the UK, Europe, the United States and Asia.

To find out more about Hiscox business insurance, read our overview below.

What is Hiscox business insurance?

Hiscox business insurance is a product or suite of products that you can tailor to meet the needs of your specific profession or organisation.

By having business insurance in place, you can potentially safeguard yourself against the compensation costs and legal fees of a claim made against you or your business. You can also have the price of replacing key items, such as tools and machinery, covered through your policy.

» MORE: What is business insurance?

What type of business insurance does Hiscox include?

Like most business insurers, Hiscox offers a number of products appropriate for sole traders, SMEs and larger organisations. This includes, but is not limited to:

  • Employers’ liability insurance: This is a legal requirement if you employ anyone in the UK who isn’t a family member. If your family business is incorporated as a limited company, employers’ liability insurance is also a legal requirement.
  • Public liability insurance: This covers compensation costs and legal fees for personal injury, illness or death, and property loss or damage, caused by your business to a third party.
  • Professional indemnity insurance: This covers compensation costs and legal fees if you or your business has been accused of making a mistake or negligence, or providing bad advice that has cost your client money or damaged their reputation.
  • Product liability insurance: This covers compensation costs and legal fees if a product you have sold causes injury, illness or property damage to a third party.
  • Directors and officers insurance: This covers compensation costs and legal fees if a director, officer or key manager in your business is accused of a ‘wrongful act’.
  • Cyber insurance: This covers costs related to the fallout from a cyber attack, such as a hack or data breach.

On top of business insurance, Hiscox offers a range of other products, including home insurance and motor insurance.

How to get a business insurance policy from Hiscox

To get a business insurance policy from Hiscox, you would typically first need to get an online quote. During this process, Hiscox may ask you to provide details of:

  • your profession
  • the name of your business (if you are a sole trader, you should enter your personal name in full as well as any trading name)
  • the date your company started trading (you can select ‘haven’t started trading’ if you are a new business)
  • your estimated turnover in the next 12 months
  • where you business carries out work
  • when you would like your cover to start
  • which insurance policies you require
  • how many people work in your business

If you need assistance purchasing business insurance from Hiscox, you can contact the insurer via online live chat, by email, or over the phone.

» COMPARE: Business insurance

How much does Hiscox business insurance cost?

How much your Hiscox business insurance costs will always depend on your business requirements and level of cover. To calculate the cost of your premium, Hiscox will likely want to know:

  • how long you have been trading
  • your estimated turnover in the next 12 months
  • where your business carries out work or has contracts
  • which policies you want to include in your cover
  • the level of cover you want for each policy
  • how many people you employ

» MORE: How much is business insurance?

What professions does Hiscox cover?

While Hiscox provides business insurance to most professions, you should always check directly with the insurer before seeking a quote. Below is a selection of the professions Hiscox covers:

Hiscox Business Insurance FAQs

Who owns Hiscox?

Hiscox UK is part of Hiscox Group, a company that trades on the FTSE 250.

Who is the CEO of Hiscox?

The Group CEO of Hiscox Group is Aki Hussain.

Is Hiscox a real insurance company?

Yes, Hiscox is a real insurance company. It is authorised and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority.

About the author:

Connor is a writer and spokesperson for NerdWallet. Previously at Spreadex, his market commentary has been quoted in the likes of the BBC, The Guardian, Evening Standard, Reuters and The Independent. Read more

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