Top Business Insurance in the UK in the UK – Reviews
Running a business is thrilling, but unexpected events can disrupt your success. From data breaches to property damage, having the right insurance is your safety net.
UK Business Insurance Agencies
Our Top 3 Business Insurance Providers in April 2024:
Superscript 8 stars for their exceptional customer service and comprehensive coverage.
Simply Business – 6 stars for their competitive rates and transparency
Direct Line 7 stars for their excellent reputation within the insurance industry
How have we selected these providers?
Securing the perfect business insurance policy is crucial to safeguarding your company’s financial well-being. To empower your decision-making, we’ve identified the key areas to assess business insurance providers (scored out of five):
Industry Expertise & Risk Assessment: Does the provider understand the specific risks and challenges faced by businesses in your industry? Look for a data-driven approach to risk assessment and customised coverage options tailored to your needs.
Comprehensive Coverage & Flexibility: Does the policy offer the necessary coverages to protect your business from potential liabilities (e.g., property damage, public liability, cybercrime)? Assess the level of flexibility to adjust coverage options as your business evolves.
Competitive Rates & Transparency: Are the premiums transparent, competitive, and aligned with the level of coverage provided? Ensure the provider offers transparent pricing models with no hidden fees.
Customer Service & Claims Support: Will you have access to dedicated customer service representatives to answer your questions and guide you through the policy? Evaluate the provider’s claims process and its efficiency in resolving issues.
Financial Strength & Reputation: Is the provider a reputable and financially stable company with a proven track record of honouring claims? Research the insurer’s financial strength and customer reviews.
Why listen to our reviews?
Our team has been a trusted advisor for over a decade, helping businesses navigate the complexities of business insurance.
We leverage in-depth industry research and unbiased comparisons to empower informed decision-making.
The UK business insurance market offers a diverse range of options, with providers catering to various business needs and risk profiles.
Our team’s deep understanding of the insurance landscape and experience across numerous providers allows us to find the perfect fit for your specific situation.
For a comprehensive comparison, use our comparison tool here today.
Topics covered in this article include:
What is Business Insurance
Building a business in the UK is an exciting journey, but even the smoothest roads have bumps. Unlike potholes, these bumps can be financial disasters – a fire, a customer lawsuit, or an employee injury can cripple your company. That’s where business insurance comes in – it’s your financial safety net, catching you before a setback turns into a total wipeout.
Now, you might be thinking “Isn’t business insurance optional?” It’s true, unlike car insurance, it’s not mandatory for every business. There is, however, one crucial exception: Employers’ Liability Insurance . This protects you if an employee gets injured or sick on the job and decides to sue. The fines for not having it in the UK can be hefty – up to £2,500 a day!
But business insurance goes way beyond legal requirements. Imagine you’ve spent years building your dream company, only to have a flood destroy your equipment or a cyberattack steal your customer data. Without insurance, the financial burden could be insurmountable.
Think of business insurance as an investment in your company’s future, because it gives you peace of mind, knowing you can bounce back from the unexpected and keep your business thriving. So, whether you’re a seasoned entrepreneur or a fresh-faced startup, business insurance is a must-have to navigate the exciting, but sometimes unpredictable, world of business ownership.
Benefits of Business Insurance
Perhaps the most well-known benefit of having business insurance is the financial protection it gives. Business insurance acts as a safety net against unforeseen events that could cause significant financial losses, as it can cover a wide range of situations, such as property damage, liability claims, cyberattacks, and employee injuries. Without insurance, these events could force you to dip into savings, take out expensive loans, or even shut down your business.
In addition, knowing you have insurance coverage can provide valuable peace of mind , allowing you to focus on running your business without constant worry about potential disasters.
Having business insurance can make your company look more professional and trustworthy to potential clients, partners, and investors . Many businesses require proof of insurance before partnering with new businesses (i.e. you!)
Also, depending on your industry, some types of business insurance (like employer’s liability insurance) be mandatory by law . Having the required coverage ensures you’re operating legally and avoids potential fines or penalties .
The process of evaluating your risks and obtaining insurance can help you identify potential vulnerabilities in your business operations and take steps to mitigate them and can also benefit employee’s motivation and wellbeing.
Disadvantages of Business Insurance
While we think that the cost of having insurance for your business is certainly worthwhile, business insurance premiums can be a significant expense, especially for smaller businesses.
Insurance can also be complex, with various types of policies, coverages, and exclusions, so it’s crucial to carefully understand the details of your policy to ensure it meets your specific needs.
Dealing with insurance claims can be time-consuming and frustrating , and to top it off, insurance doesn’t cover everything. You should always carefully review policy exclusions to understand what situations are not covered., as you might need additional policies for specific risks.
Lastly, insurance companies can adjust your premiums based on your claim’s history or changes in your business operations.
Cost of Business Insurance
The cost of business insurance in the UK can vary significantly depending on several factors, making it difficult to give a definitive answer, but the following factors will almost always influence the overall cost of your business insurance:
Businesses in higher-risk industries (e.g., construction, manufacturing) typically pay more for insurance compared to those in lower-risk sectors (e.g., accounting, IT).
How many employees you have, and the value of your business premises.
Location
Claims History
What type of insurance you need (e.g., property, liability, cyber) as these all have varying costs.
The deductible (i.e. how much you pay upfront when choosing your policy).
Type of Insurance
Cost (approx.)
Variations
Public Liability Insurance
£118 – £2,000+ per year
Cover amount and industry
Employers’ Liability Insurance
£60 – £200+ per employee per year
Risk level
Property Insurance
Variable
Property value, location, and type of coverage
Business Interruption Insurance
Variable
Potential revenue loss
What Types of Business Insurance Are There?
Category
Description
Example Coverages
Property Insurance
Protects your business premises, equipment, and inventory from physical damage or loss due to events like fire, theft, vandalism, or natural disasters.
· Buildings & Contents
· Business Interruption
· Equipment Breakdown
Liability Insurance
Covers your legal liability for injuries or damages caused to third parties (e.g., customers, employees, public) by your business operations.
· Public Liability
· Employers’ Liability
· Product Liability
Business Interruption Insurance
Provides financial compensation for lost income and ongoing expenses if your business is forced to temporarily suspend operations due to a covered event (e.g., fire damage, flood).
· Loss of income
· Fixed operating expenses
Professional Indemnity Insurance
Protects professionals (e.g., accountants, lawyers, consultants) from claims of negligence or errors and omissions in their professional services.
· Legal costs
· Compensation awards
Cyber Insurance
Covers financial losses and costs associated with cyberattacks, data breaches, and privacy violations.
· Data recovery
· Regulatory fines
· Cyber extortion
Business Vehicle Insurance
Provides coverage for company-owned vehicles used for business purposes, similar to personal auto insurance but with potential adjustments for commercial use.
· Collision
· Comprehensive
· Third-party liability
Directors’ & Officers’ (D&O) Insurance
Protects directors and officers of a company from personal liability for lawsuits alleging mismanagement or wrongdoings.
· Legal defence costs
· Settlements
Other Coverages
There are additional insurance options available depending on your industry and specific needs.
· Crime Insurance
· Legal Expenses Insurance
· Engineering Insurance
Business Insurance Providers
The world of business insurance can feel overwhelming, with so many providers offering various policies nationwide, how do you choose the right one? Don’t worry, this guide is here to help as we have handpicked some of our favourite providers below:
Superscript
Our performance rating of Superscript out of 5 stars:
Our Overall Rating
4 .8 out of 5 stars
Industry Expertise & Risk Assessment
4 .8 out of 5 stars
Comprehensive Coverage & Flexibility
4 .8 out of 5 stars
Competitive Rates & Transparency
4 .8 out of 5 stars
Customer Service & Claims Support
4 .7 out of 5 stars
Financial Strength & Reputation
4 .5 out of 5 stars
What other people think:
Real Customer Reviews:
Summary of Superscript:
Superscript stands out with exceptional ratings across the board, scoring a near-perfect 4.8 out of 5 stars in key areas like industry expertise, coverage flexibility, competitive rates, and transparency. Their user-friendly online platform and focus on customisation are also major strengths from our review. Customer service is also impressive with a 4.7 out of 5-star Trustpilot rating, and while financial strength is still good at 4.5 out of 5 stars, the lower score mainly due to their new position in the market.
Positive customer reviews:
Negative customer reviews:
Superscript : Video from a user’s perspective:
Superscript : What sets it apart from its competitors?
Unlike traditional “one-size-fits-all” policies, Superscript allows you to tailor your coverage to your specific business needs, meaning that you choose the exact coverages you require, avoiding unnecessary extras and saving money at the same time.
Features of Superscript
They can provide coverage in less than 10 minutes, starting from as little as £5.13 per month, which can be adapted or cancelled at any time with no penalties.
Superscript is underwritten by Standard & Poor’s A rated financial strength products or higher, meaning they value their commitment to paying your claims.
They are protected by the FSCS, which means if your turnover is under £1 million, or you are a charity or trust, you will be entitled to compensation should they fail to meet their obligations.
They provide three types of cover for a range of industries and professions, which includes: essential cover, professional cover and management cover.
Superscript’s cover is super flexible, so you can pick and choose the cover that’s right for you and your business, and they also have policies that can be tailored specifically to different sectors, including tech and media, professional services, wellness, trade, construction, retail and ecommerce.
They are suitable for everyone from sole-traders, landlords, startups, freelancers and small businesses.
They have a super straightforward online portal where businesses can update.
Pros and Cons of Superscript
Superscript Pros and Cons
Pros
Cons
Tailored and flexible coverage
Transparent online process
Competitive rates
They leverage technology to deliver a smooth and efficient insurance experience.
Great customer reviews
Relative newcomer to the insurance industry
Our own experience with the pros & cons of Superscript:
We think that Superscript offers a convenient and tech-driven approach to business insurance, particularly for smaller businesses and those comfortable with online management. They are authorised by the FCA, and as they are expert brokers, they are able to serve their customers smarter and create custom solutions that save businesses money on unnecessary cover and extras.
The evolution over the years:
Improvements:
Superscript boasts generally positive customer reviews regarding ease of use, clear communication, and efficient service, they have a focus on transparency, and it is really easy to navigate their information on their website, covering pricing, coverage options and exclusions. The reviews speak for themselves, and users really enjoy their user-friendly platform.
Issues:
Superscript is a relative newcomer in terms of industry experience, although we think this gives them a slight edge as they have the ability (and are starting to show a track record of doing so) to shake up the insurance market, offering honest, transparent cover for a multitude of needs.
How can I purchase?
Our concluding thoughts on Superscript:
Superscript offers a diverse range of business insurance options catering to various professions and sectors, with prices starting at just over £5, albeit subject to variation depending on the specific business needs. While Superscript primarily operates online, they have offices in London and Rotterdam, and are able to provide convenient policy management across the globe.
We love how simple and straightforward it is to take control of your landlord cover with Superscript. They offer bespoke and personalised cover designed for wide range of business needs, and their simple process saves customers hours and also potentially thousands of pounds on insurance. They proactively manage their underwriting relationships and ensure that they understand business operations cultures and values to provide the best service.
Superscripts are not like other brokers that we’ve reviewed, as they combine proprietary systems with enriched data to provide hyper-efficient, transparent and digital-first cover. They have in-house experts that cover a range of industries (Tech, Financial/Professional services, Life Sciences & Emerging Technologies), so they can help businesses figure out exactly what cover they need.
Simply Business
Our performance rating of Simply Business out of 5 stars:
Our Overall Rating
4.6 out of 5 stars
Industry Expertise & Risk Assessment
4 out of 5 stars
Comprehensive Coverage & Flexibility
4.7 out of 5 stars
Competitive Rates & Transparency
4.7 out of 5 stars
Customer Service & Claims Support
4.3 out of 5 stars
Financial Strength & Reputation
4.5 out of 5 stars
What other people think:
Real Customer Reviews:
Summary of Simply Business:
Simply Business operates as a broker, aiming to alleviate the complexities of acquiring business insurance. Small business owners and landlords can complete a straightforward questionnaire detailing their insurance requirements and business operations, and then compares policies from top providers to identify the most suitable coverage options. Whether seeking liability insurance or safeguarding equipment against theft or damage, their online tools facilitate the search for transparent quotes and a diverse range of policy choices, back by excellent customer reviews.
Positive customer reviews:
Negative customer reviews:
Simply Business : Video from a user’s perspective:
Simply Business : What sets it apart from its competitors?
Simply Business is known for its user-friendly online platform which allows you to easily compare quotes from multiple insurers, understand different coverage options, and get covered quickly and efficiently. We think this streamlined process can be a major advantage compared to traditional brokers or directly contacting insurers.
Features of Simply Business
Simply Business has an incredibly easy to use and convenient platform that allows users to get instant quotes from multiple insurers efficiently.
They are transparent about pricing and score the highest of all providers in this area in our review.
They offer a diverse selection of insurance options suitable for various business types and their network of insurers allows them to find you competitive quotes.
Their experience caters to the unique challenges and requirements of smaller businesses, and they understand the specific needs of these types of businesses. In addition, they offer better insight into recommending coverage options for startups and growing companies.
They also provide guides and articles to help businesses understand different types of insurance, legal requirements, and choosing the right coverage.
Pros and Cons of Simply Business
Simply Business Pros and Cons
Pros
Cons
User-friendly platform
Wide range of coverage options
Competitive rates
Simply Business is known to be transparent
A lot of user complaints of auto-renewal
You can’t file claims directly through Simply Business
Our own experience with the pros & cons of Simply Business:
We think that Simply Business offers a user-friendly platform for comparing quotes and obtaining coverage quickly, making it convenient for landlords. With a wide range of coverage options tailored to different business types, finding a suitable plan is made easier. Competitive rates from various insurers can potentially save money on insurance premiums. The company strives for transparency throughout the process, providing clear information about coverage and pricing, which is essential for any good insurance provider.
The evolution over the years:
Improvements:
Simply Business has great customer reviews on Trustpilot, and customers appreciate their transparency with pricing and premiums, which is essential to any good business relationship. With the ever-increasing costs of living, Simply Business have managed to stay competitive, which gives them a good edge over their competitors.
Issues:
While Simply Business have amazing reviews on Trustpilot, there are a lot of reviews stating that their auto-renewal clause is hard to get out of, so it’s important to read through all contracts and clarify anything you do not understand.
How can I purchase?
Our concluding thoughts on Simply Business
Simply Business is a well-known provider of straightforward, user-friendly insurance solutions for small business owners. Their process is straightforward – they provide an assessment questionnaire to understand your requirements and help find you a policy that fits within your budget. Plus, their UK-based customer service team can guide you through every step.
A nice benefit that shows they care about their customers is that they offer helpful resources such as guides and articles to educate businesses about insurance options. You should keep in mind, however, that as a broker, customisation of coverage may be limited compared to dealing directly with insurers, and some customers have reported difficulties reaching customer service representatives, especially outside of standard business hours. Claims may need to be filed directly through the insurance company, and the focus may be more on smaller businesses, potentially leaving larger or more complex operations seeking specialized coverage elsewhere.
Additionally, auto-renewal policies require caution, prompting the need to compare quotes before each renewal period to ensure the best deal.
Direct Line
Our performance rating of Direct Line out of 5 stars:
Our Overall Rating
4 .7 out of 5 stars
Industry Expertise & Risk Assessment
4 .6 out of 5 stars
Comprehensive Coverage & Flexibility
4 .5 out of 5 stars
Competitive Rates & Transparency
4 .6 out of 5 stars
Customer Service & Claims Support
3 .7 out of 5 stars
Financial Strength & Reputation
4 .9 out of 5 stars
What other people think:
Real Customer Reviews:
Summary of Direct Line:
Direct Line landlord insurance is an ideal solution for landlords who need affordable protection that safeguards their property portfolio from common risks associated with renting. It covers buildings and contents against fire, flood, storms and burst pipes – giving you peace of mind that your portfolio will be secure in any disaster.
Positive customer reviews:
Negative customer reviews:
Direct Line : Video from a user’s perspective:
Direct Line : What sets it apart from its competitors?
They have great customer reviews showing that they strive to offer the best customer service and combined with their competitive rates and tailored packages to suit a wide range of needs and coverage levels, they are one of the strongest contenders for insurance on our list.
Features of Direct Line
While not unique, competitive rates are a major factor in choosing the right insurance policy, and Direct Line aims to be well-positioned in the market.
They have an exceptionally user-friendly online portal which surpasses traditional brokers who rely on more manual processes.
They often offer attractive cash back incentives and promotional discounts to new customers which makes their policies more appealing.
They strive to offer exceptional customer service which can be seen in their trust pilot reviews.
Direct Line offer a range of add-ons and extras, allowing customers to almost entirely customise their insurance packages according to specific needs and risk factors.
Pros and Cons of Direct Line
Direct Line Pros and Cons
Pros
Cons
Range of insurance policies and cover levels
Claims can be made 24/7 or online.
Great range of add-on features
Excellent customer service reviews
Strong reputation within the insurance industry
They charge a cancellation fee after the cooling off period (14 days)
Our own experience with the pros & cons of Direct Line:
We think that Direct Line boasts a wide array of insurance policies catering to different needs and preferences, with various levels of coverage available. Their round-the-clock claims service, accessible both online and offline, ensures convenience and efficiency for customers in need. Additionally, we like that Direct Line offers a diverse selection of add-on features, allowing policyholders to tailor their coverage to suit their individual requirements.
The evolution over the years:
Improvements:
The company garners exceptional customer service reviews, reflecting its commitment to providing excellent support and assistance to clients. With a solid reputation within the insurance industry, Direct Line instils trust and confidence among customers, which is evident in their strong reviews and loyal customer base.
Issues:
While being a primarily online provider allows the business to offer more competitive rates, Direct Lines focus on online interactions might be a downside if you prefer personalised service over phone or in-person consultations.
How can I purchase?
Our concluding thoughts on Direct Line:
Direct Line provides a comprehensive range of business insurance plans tailored to various budgets and requirements, offering three levels of coverage, including SELECT Premier Insurance, their top-tier option. Customers can opt for single or combined policies based on their needs. Additionally, policies can be enhanced with optional extras, and Direct Line incentivises online purchases with discounts of up to 35%.
In 2024, Direct Line was honoured with a highly commended award for home insurance in the Finder Customer Satisfaction Awards. Impressively, 85% of customers expressed their willingness to recommend the service to friends. We think they have a strong reputation and are a reliable provider that are certainly worth considering for your business insurance needs.
Aviva
Our performance rating of Aviva out of 5 stars:
Our Overall Rating
4. 1 out of 5 stars
Industry Expertise & Risk Assessment
4 .5 out of 5 stars
Comprehensive Coverage & Flexibility
3 .7 out of 5 stars
Competitive Rates & Transparency
4 out of 5 stars
Customer Service & Claims Support
4 out of 5 stars
Financial Strength & Reputation
4 .5 out of 5 stars
What other people think:
Real Customer Reviews:
Summary of Aviva:
Aviva stands out as a prominent insurer in the UK, providing a comprehensive selection of business insurance options and boasting a dedicated UK-based claims team. Their flexible policy-building approach enables businesses to tailor coverage to their specific risk profiles. However, it’s important to note that certain foundational coverages, such as public liability insurance, buildings insurance, or contents insurance, are prerequisites before accessing additional types of business cover.
Positive customer reviews:
Negative customer reviews:
Aviva : Video from a user’s perspective:
Aviva : What sets it apart from its competitors?
Aviva has been one of the UK’s premier insurers for over 320 years. Backed by a long history and established brand recognition, Aviva offers a sense of security and stability. Their financial strength assures policyholders they can rely on them to fulfil claim, and they offer a wider variety of insurance products compared to many competitors. This allows you to potentially find all your insurance needs (car, home, life, business, travel) under one roof.
Features of Aviva
Aviva can be a one-stop-shop for insurance due to the wide range of insurance policies and options they provide, which can save time and money by consolidating all your insurance needs.
They offer 24/7 support for all of their claims and general enquiries, and their strong history in the industry offers customers security and stability.
They have a handy online portal where customers can manage their claims and review their business/property information.
They offer a great range of additional features and products, and their landlord insurance covers loss or damage to your building and contents after a range of serious accidents, such as a fire, at your property. You can also buy combined or separate buildings and contents cover.
Aviva offers the convenience of obtaining a business insurance quote either online or via phone.
Pros and Cons of Aviva
Aviva Pros and Cons
Pros
Cons
Variety of coverage options
Can have competitive rates.
Strong history and reputation
Great online portal
Can make claims over the phone
Mixed online reviews
Do not sell insurance for specific industries or professions.
Not the cheapest option on our list
Our own experience with the pros & cons of Aviva:
It’s pretty straightforward to obtain business insurance with Aviva. D uring the quotation process, you have the flexibility to adjust your coverage requirements by adding or removing specific elements as needed. Information about your business, including contact details, previous claims history, business activities, and employee count, will be required. Once you receive a quote, you can proceed to apply online or over the phone if satisfied with the offered price and coverage.
The evolution over the years:
Improvements:
We like that Aviva provide clarity upfront during the quote process, saving time for potential applicants. It’s easy to make a claim over the phone, and some claim lines are open 24/7. Their online portal makes it easy to access business information, quotes and claims (which are usually available for 30 days), however in order to change any details to your policy you will need to contact their customer support team.
Issues:
While some customers praise their experience, there are also online reviews mentioning slow claims processing or difficulty reaching customer service representatives. In addition, depending on the insurance product, pre-designed plans offer slightly less flexibility compared to highly customisable options from some competitors on our list.
How can I purchase?
Our concluding thoughts on Aviva:
Aviva is a well-known player in the insurance world, known for their superior customer service. For example, their award-winning claims service boasted a 98% success rate in 2019 and settled 24% of all home insurance claims within five days.
Aviva presents itself as a viable option to us for small businesses seeking insurance coverage, although there are some considerations to bear in mind. Their direct purchasing platform is more tailored towards self-employed individuals and micro-enterprises, with limitations on coverage for larger businesses requiring broker assistance.
It’s also worth noting that Aviva may not cover certain occupations or activities, such as handymen or restaurant owners, and they may avoid higher-risk work scenarios. Notably, Aviva does not offer cyber insurance, which could be a concern for businesses heavily reliant on technology. Overall, we think that Aviva’s business insurance products offer robust features, making them worth considering for coverage needs.
Liverpool Victoria
Our performance rating of Liverpool Victoria out of 5 stars:
Our Overall Rating
4 out of 5 stars
Industry Expertise & Risk Assessment
4 out of 5 stars
Comprehensive Coverage & Flexibility
4 out of 5 stars
Competitive Rates & Transparency
4.5 out of 5 stars
Customer Service & Claims Support
4.4 out of 5 stars
Financial Strength & Reputation
3.8 out of 5 stars
What other people think:
Real Customer Reviews:
Summary of Liverpool Victoria:
Liverpool Victoria, the oldest insurer in the UK, has been around since 1843. As a mutual owned by its members, LV offers its clients an array of products such as life insurance, savings and pensions. They earn a pretty respectable 4 stars in our review, and they particularly shine in customer service and claims support. Their competitive rates, transparency, and a good reputation for financial strength further solidify their position as a reliable insurer.
Positive customer reviews:
Negative customer reviews:
Liverpool Victoria : Video from a user’s perspective:
Liverpool Victoria : What sets it apart from its competitors?
Liverpool Victoria stands out to us for its excellent customer service, strong financial backing, and competitive rates. They offer discounts if you choose to take out multiple policies with them, meaning you could make substantial savings if you choose to streamline all of your insurance needs with the one provider.
Features of Liverpool Victoria
The company boasts an impressively extensive network of branches across the UK and a well-designed online portal, enabling you to manage your policy online easily.
LV offers an unbeatable low pricing structure, and their stellar customer service record has made them the go-to choose for many UKS business owners.
LV has also joined forces with Google to offer its customers cutting-edge technology solutions that could save them money in the long run. Their new e-commerce platform will permit customers to purchase insurance online, bypassing traditional methods and saving them time while on the go.
They also offer financial protection in the event of the death or serious illness of a crucial team member, particularly when Critical Illness Cover is also chosen.
Their Share and Partnership Protection safeguards business ownership by enabling owners to retain control in case of death or critical illness affecting one of them.
Pros and Cons of Liverpool Victoria
Liverpool Victoria Pros and Cons
Pros
Cons
24 hr helpline
Online customers get a 5% discount.
10% discount of landlord insurance if you have an existing policy.
Strong reputation
Not many customisations’ options
Not the cheapest provider on our list
Our own experience with the pros & cons of Liverpool Victoria:
Liverpool Victoria offers competitive rates, good financial strength, and a focus on customer service. However, they have a slightly less-developed online presence compared to some other providers on our list, and have limited customisation options, as well as a stronger focus on traditional customer service methods which are not as user-friendly as online portals.
The evolution over the years:
Improvements:
LV= prioritizes customer service and consistently receives positive reviews in this area. Their focus on providing helpful and efficient assistance is evident through their strong customer reviews. We also think that while not the most extensive, LV= offers a decent range of insurance products, including car, home, life, travel, and even pet insurance, which allows you to potentially consolidate your insurance needs with a single provider if desired (and save money while doing so!)
Issues:
While we like that LV= offer a wide range of insurance policies, they are somewhat less customisable compared to some of the other providers on our list. This limited flexibility may deter some customers who need quite specific or tailored quotes.
How can I purchase?
Our concluding thoughts on Liverpool Victoria:
Liverpool Victoria (LV=) sets itself apart from competitors to us in the insurance industry with a trifecta of standout features: exceptional customer service, solid financial backing, and competitive rates. But we think what truly distinguishes LV= is its commitment to offering discounts for multiple policyholders, making it an enticing option for those looking to streamline their insurance needs. Moreover, they boast an extensive network of branches across the UK and a user-friendly online portal, ensuring convenient policy management for customers.
On the pricing front, LV= delivers unbeatable rates, complemented by a stellar customer service record that has earned the trust of numerous UK business owners. Teaming up with Google, LV= introduces innovative technology solutions through its new e-commerce platform, revolutionising the insurance purchasing experience and saving customers valuable time.
But LV= doesn’t stop there. They offer comprehensive features such as financial protection in the event of death or serious illness of a key team member, demonstrating their commitment to safeguarding business continuity. Yet, despite their 24-hour helpline and online customer discounts, LV= faces some limitations, including fewer customisation options and a slightly less-developed online presence compared to competitors.
In our experience, LV= impresses with its competitive rates, financial stability, and customer-centric approach. While they offer a decent range of insurance products, including car, home, life, travel, and pet insurance, we think that some people may find the limited customisation options and reliance on traditional customer service methods less appealing, especially if just looking for business insurance and you aren’t concerned about their other types (of more personal) insurance.
AXA
Our performance rating of AXA out of 5 stars:
Our Overall Rating
4.6 out of 5 stars
Industry Expertise & Risk Assessment
4.8 out of 5 stars
Comprehensive Coverage & Flexibility
4.7 out of 5 stars
Competitive Rates & Transparency
4 out of 5 stars
Customer Service & Claims Support
4.3 out of 5 stars
Financial Strength & Reputation
4.7 out of 5 stars
What other people think:
Real Customer Reviews:
Summary of AXA:
AXA shines through in our review with an impressive overall rating of 4.6 out of 5 stars. They particularly excel in understanding and assessing industry-specific risks, scoring a near-perfect score. Additionally, they offer a high degree of flexibility and comprehensive coverage options, and while customer service scores a slightly lower score, it remains positive. They also boast a strong financial reputation and have years of industry expertise, so you know you are in safe hands if you choose AXA as your insurance provider.
Positive customer reviews:
Negative customer reviews:
AXA : Video from a user’s perspective:
AXA : What sets it apart from its competitors?
Backed by a strong reputation and experience, AXA offers a deep understanding of various industries and their unique risk profiles, which translates to a better risk assessment and therefore tailored insurance solutions for your specific business type. They also stand out to us for their focus on customisable coverage options, as unlike some competitors with pre-designed packages, AXA allows you to tailor your policy to your specific business needs.
Features of AXA
Customer reviews for AXA Insurance Services have been overwhelmingly positive, with most people giving them excellent ratings for customer service. Some comments indicated they were only sometimes quick to resolve.
AXA has earned its customers’ trust over 300 years in the insurance industry, boasting an impressive 300-year experience and a well-deserved reputation for providing excellent service.
Their comprehensive cover is competitively priced, too, making AXA an ideal choice for landlords looking to safeguard their property investment.
It has a stellar reputation for customer service and claims management, earning an ‘excellent’ 4.3 out of 5 rating from Trustpilot and 3.5 out of five from Finder.
You can access your documents anytime from their handy online portal, as well as easily Make changes to your policy details 24/7, including your cover level and business details.
Pros and Cons of AXA
AXA Pros and Cons
Pros
Cons
Great range of coverage options
Strong focus on flexibility and customisation
Excellent reputation in the industry
Fantastic Trustpilot reviews
Comprehensive range of add-on features
Mixed reviews outside of Trustpilot
Higher costs than some other providers from our list
Our own experience with the pros & cons of AXA:
Overall, we think AXA Landlord Insurance offers a strong reputation, a variety of customizable coverage options, and a user-friendly online experience. However, they do have slightly higher costs than some others from our list, which may deter some customers with limited budgets. We think they are a strong choice for businesses seeking a reliable insurer with deep industry knowledge, customisable coverage, and a secure financial backing.
The evolution over the years:
Improvements:
AXA offer their customers lots of useful guides to help them understand the intricacies of insurance, and what type of coverage and policies may be best suited to their needs. We like this strong focus on the customer, and their dedication to helping find the right coverage and policies. Their online portal has great reviews as well, showing they are adapting to the latest technology, making the overall user experience seamless and straightforward.
Issues:
While AXA offers a great ability to customise their packages, offering great flexibility for their customers, the payoff is that their policies generally come at a slightly higher price point compared to competitors with more basic or pre-designed plans. This could be a concern for businesses seeking the most affordable option, as always, its best to compare a few providers to ensure you get the right coverage at an affordable cost.
How can I purchase?
Our concluding thoughts on AXA:
AXA is an established insurance provider with decades of experience helping people protect themselves and their possessions from various risks. It strives to offer policies tailored to individual customers’ needs, so they can customise their cover according to those needs and ensure they are safeguarded against everyday hazards.
Halifax
Our performance rating of Halifax out of 5 stars:
Our Overall Rating
3 .8 out of 5 stars
Industry Expertise & Risk Assessment
4 .3 out of 5 stars
Comprehensive Coverage & Flexibility
4 out of 5 stars
Competitive Rates & Transparency
3 .9 out of 5 stars
Customer Service & Claims Support
2 .2 out of 5 stars
Financial Strength & Reputation
4 .5 out of 5 stars
What other people think:
Real Customer Reviews:
Summary of Halifax:
While Halifax Landlord Insurance scores well in several key areas, there’s room for improvement. With a strong showing in industry expertise, coverage options, competitive rates, and financial strength, they offer a solid product. However, customer service appears to be a weak spot, with very mixed reviews across the regular review sites. This might be a concern if you prioritise prompt and helpful support during the claims process.
Positive customer reviews:
Negative customer reviews:
Halifax : What sets it apart from its competitors?
Halifax specialise in Public Liability insurance for Tradesmen and Self-employed people, specifically covering public liability, employers’ liability, tool cover, business equipment, stock cover and contract work cover.
Features of Halifax
Getting a quote for business insurance on the Halifax website is effortless. You can select from their selection of policies or apply online using their convenient form, and they will calculate an accurate premium that considers a range of factors.
Halifax act as a broker for business insurance, so are able to find competitive and unbiased quotes for a range of needs.
Optionally, you can extend your policy with optional extras to provide a stronger level of protection.
They focus on providing customised insurance solutions for different business types (premises-based, shops, offices, salons, etc.).
They also work with a panel of insurers to try and get you the most competitive quotes (they are backed by Gallagher themselves).
They also offer consultations with business insurance specialists to help you find the right coverage and navigate the process.
Pros and Cons of Halifax
Halifax Pros and Cons
Pros
Cons
Halifax is known for offering competitive quotes on landlord insurance.
They have a user-friendly platform.
Insurance backed by the Halifax brand, and the Bank of Scotland
Great range of coverage options
Limited specialisation
Mixed customer service reviews
Our own experience with the pros & cons of Halifax:
While we note that the company has received numerous negative reviews on platforms like Trustpilot and Defaqto, particularly regarding the pricing of insurance services, we think that they offer a great range of insurance policies that can be combined to create one streamlined policy.
The evolution over the years:
Improvements:
We think Halifax business insurance is a good choice for tradespeople, and those working in marketing, IT or self-employed. Thery have recently added new types of insurance to include those that work from home, surgeries, hotels, pubs, shops and salons, and offices. We also like that they offer tailored insurance packages that allow customers to combine different types of insurance, which can be more cost-effective and easier to manage.
Issues:
Users of Halifax insurance products have previously complained about their website being difficult to navigate, and about how hard it is to read information about their policies, however we think this advice has been taken on board by them, as their website is very simple and straightforward, and we were able to easily see what their types of insurance were, how to receive a quote, and other helpful guides.
How can I purchase?
Our concluding thoughts on Halifax:
While they are not the top of our list, Halifax’s business insurance offerings are appealing to many business owners. Their comprehensive coverage options come at competitive prices, making them worth exploring. Customers can compare different plans to find the one that best fits their needs via their website or call their customer service number during business hours to discuss more complex needs. Halifax also provides helpful guides on selecting the right coverage and offers advice on various business-related topics. Halifax demonstrates transparency by providing all coverage documentation during the quote process. We do think that their services are quite limited, however, as they only offer public liability insurance for tradesmen and the self-employed, and professional indemnity insurance (with add-ons for each). With backing from the Bank of Scotland and Gallagher, if those are the insurance types you are searching for, then we think they are considered a reputable choice for business insurance.
James Ward is CEO and founder of CompareYourBusinessCosts.co.uk, a website that won the Prestigious ‘Website of the Year’ only in its second year of operations in 2015. The website has grown organically since then offering comparisons on over 20 different products including insurance, energy, telecoms, card machines, coffee machines and much more. James has a range of interests including horse racing, skiing, rugby and boxing. He splits his time between home family life, friends, exercise and socialising.