{"id":25769,"date":"2024-11-07T10:27:31","date_gmt":"2024-11-07T10:27:31","guid":{"rendered":"https:\/\/www.policybee.co.uk\/blog\/?p=25769"},"modified":"2025-08-18T14:29:05","modified_gmt":"2025-08-18T13:29:05","slug":"small-business-insurance-costs","status":"publish","type":"post","link":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs","title":{"rendered":"Small business insurance costs explained"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"300\" src=\"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png\" alt=\"Small business insurance costs can be tricky to spot, especially when you're looking at your policy in black and white on a clipboard.\" class=\"wp-image-25770\" style=\"object-fit:cover;width:300px;height:150px\" srcset=\"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png 600w, https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit-300x150.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n<\/div>\n\n\n<p>If you\u2019re reading this, chances are you\u2019re a small business owner. You clicked hoping to find a golden number for how much your insurance is going to cost. Or what typical small business insurance costs are.<\/p>\n\n\n\n<p>Unfortunately, it\u2019s not that easy. As you\u2019ve probably experienced, small business insurance is complex. There\u2019s a lot to think about: what cover do I need, how much cover do I need, what insurer should I use, how much should I be paying? You get the idea.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">So, how much <em>does<\/em> small business insurance cost?<\/h2>\n\n\n\n<p>Instead of giving you an easy answer (which\u2019ll probably be wrong), we\u2019re going to take the better route of explaining <em>why <\/em>your insurance costs a certain amount. And give you an insight into how your insurer thinks when they receive your quote request.<\/p>\n\n\n\n<p>Because insurers really do care about small businesses. They don\u2019t only want your business, they <em>need <\/em>it. There are <a href=\"https:\/\/www.fsb.org.uk\/uk-small-business-statistics.html\" target=\"_blank\" rel=\"noreferrer noopener\">over 5.6 million SMEs in the UK<\/a>. That\u2019s 99.9% of all our businesses, employing over 60% of our workforce, and contributing over half of all turnover in the UK private sector.<\/p>\n\n\n\n<p>Understanding how insurance costs work gives you a leg up. It helps you understand what you\u2019re buying and how it\u2019ll protect you. And makes it easier to get a better deal.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Factors affecting small business insurance costs<\/strong><\/h2>\n\n\n\n<p>Before we dive into different kinds of insurance, let\u2019s talk about some fundamental factors that will change the cost of insurance for a small business.<\/p>\n\n\n\n<p>These are attributes that every business has. They paint a picture of your business, and give insurers an understanding of how risky you would be to insure.<\/p>\n\n\n\n<p>Here are a few examples:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The nature of your business \u2013 who you are and what you do<\/li>\n\n\n\n<li>Annual turnover \u2013 how much business you do<\/li>\n\n\n\n<li>Number of employees \u2013 demonstrates the size of your business and, for some types of insurance, adds to your risk<\/li>\n\n\n\n<li>Location \u2013 where you\u2019re based, and how many locations you have<\/li>\n\n\n\n<li>Claims history \u2013 whether you have any previous or existing claims<\/li>\n\n\n\n<li>Cover limits \u2013 how much cover you need.<\/li>\n<\/ul>\n\n\n\n<p>Get the idea? Depending on each of these factors, and many more besides, your costs can go up or down.<\/p>\n\n\n\n<p>A basic example might help. An accountancy firm with 100 employees, spread across three locations, with several previous claims, would expect to pay a lot more for their small business insurance than a self-employed virtual assistant who operates out of a home office.<\/p>\n\n\n\n<p>When thinking about the cost of your insurance, consider how these factors might raise or lower your risk.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What factors can cause small business insurance costs to increase?<\/strong><\/h2>\n\n\n\n<p>Almost any factor can cause your business insurance costs to go up. The examples we gave above can all increase your costs. But they can also reduce them.<\/p>\n\n\n\n<p>It entirely depends on the specific nature and attributes of your business.<\/p>\n\n\n\n<p>We\u2019ll be a bit more specific, though, and highlight some key offenders that can lead to hefty price increases when you come to renewal:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If you\u2019ve had to make a claim in the past year, or someone has claimed against you, your costs can increase a lot.<\/li>\n\n\n\n<li>If your business has grown a lot in the past year, expect your renewal to grow as well. Larger businesses mean more risk for your insurer.<\/li>\n\n\n\n<li>External factors like interest rates, market trends, and global events can impact your insurance costs.<\/li>\n<\/ul>\n\n\n\n<p>It\u2019s important to remember that any substantial change to how your business operates will probably affect your insurance costs.<\/p>\n\n\n\n<p>But don\u2019t be tempted to conceal facts about your business to reduce your insurance costs. If you needed to make a claim, it could invalidate your cover or drastically reduce your claim amount.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Types of insurance and how much they cost<\/strong><\/h2>\n\n\n\n<p>Now that we know some important factors to consider, let\u2019s delve into some specific types of small business insurance and what can affect their costs.<\/p>\n\n\n\n<p>We\u2019ll focus on several of the most prominent insurance types first: public liability, professional indemnity, and employers\u2019 liability insurance.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Public liability insurance<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.policybee.co.uk\/public-liability-insurance\" target=\"_blank\" rel=\"noreferrer noopener\">Public liability (PL) insurance<\/a> pays your legal costs and compensation for claims involving third-party injury and property damage that are your fault. Think a client or member of the public hurting themselves on your premises, or you or your team accidentally damaging their property.<\/p>\n\n\n\n<p>For PL, the location of your business and how many locations you have are key factors in costs. As is what your business does. The more footfall your locations have, the higher the risk. <\/p>\n\n\n\n<p>You should also expect to pay more depending on what industry you\u2019re in. A busy restaurant or caf\u00e9, or a construction company, should expect high PL costs.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Professional indemnity insurance<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.policybee.co.uk\/professional-indemnity-insurance\" target=\"_blank\" rel=\"noreferrer noopener\">Professional indemnity (PI) insurance<\/a> covers you for claims of negligence, defamation, breach of confidence, and intellectual property (IP) rights infringement. An example might be failing to meet the contractual obligations of a project you\u2019re working on for a client.<\/p>\n\n\n\n<p>Working out how much your PI insurance will cost is no easy task. It depends on <a href=\"https:\/\/www.policybee.co.uk\/blog\/how-much-is-professional-indemnity-insurance\" target=\"_blank\" rel=\"noreferrer noopener\">lots of things<\/a>. Some professions will pay more for PI, like architects or engineers. This is because their mistakes can lead to big problems that cost a lot to fix. <\/p>\n\n\n\n<p>You\u2019ll also pay more if your business has a lot of clients. Or contracts that are worth a lot of money.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Employers&#8217; liability insurance<\/h3>\n\n\n\n<p>Lastly, <a href=\"https:\/\/www.policybee.co.uk\/employers-liability-insurance\" target=\"_blank\" rel=\"noreferrer noopener\">employers\u2019 liability (EL) insurance<\/a> covers you if your employees are hurt or fall ill due to their work with your business. For example, poor training could lead them to getting back problems, or bad hygiene standards at your building could see them fall ill.<\/p>\n\n\n\n<p>The cost of EL will generally go up with the number of employees you have. The same is true of the number of locations you have.<\/p>\n\n\n\n<p>The environment your employees work in affects the cost too. A warehouse will be much riskier than an office.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>A few extras to think about<\/strong><\/h2>\n\n\n\n<p>Other factors also come into play with more specific types of insurance.<\/p>\n\n\n\n<p>If your business requires <a href=\"https:\/\/www.policybee.co.uk\/aesthetics-insurance\" target=\"_blank\" rel=\"noreferrer noopener\">medical malpractice insurance<\/a>, for example, you\u2019ll face some very different factors, alongside the ones we\u2019ve already listed. The types and number of treatments you offer, as well as the qualifications you have and the number of clients you see, will all affect the cost of your insurance.<\/p>\n\n\n\n<p>You might also have <a href=\"https:\/\/www.policybee.co.uk\/cyber-insurance\" target=\"_blank\" rel=\"noreferrer noopener\">cyber insurance<\/a> to protect your business against the outcomes of data breaches and cyber-attacks. If you\u2019re an IT or cybersecurity company, your costs will probably be quite high. The same is true if you store a lot of customer data and rely on complex systems that would be expensive to restore.<\/p>\n\n\n\n<p>You&#8217;ll also pay more for cyber insurance if you&#8217;ve decided to add on social engineering, financial cybercrime, or business interruption cover.<\/p>\n\n\n\n<p>These are just a couple of examples of other types of insurance that you might get as a small business. Whatever the cover you\u2019re looking for, there are different factors that go into the quote you receive.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How to get the best deal on your small business insurance<\/strong><\/h2>\n\n\n\n<p>First, let\u2019s define what we mean by \u2018best deal\u2019. When you hear that phrase, it\u2019s easy to think about cost as the be all and end all. That\u2019s not the case when it comes to insurance.<\/p>\n\n\n\n<p>The \u2018best deal\u2019 is a mixture of a few things. It provides the cover you\u2019re looking for, at the level you need, and at a price that gives you good value for money. This will be different for every business and every different kind of small business insurance you need.<\/p>\n\n\n\n<p>Ultimately, you can seek out the cheapest insurance available. But if a claim comes in and you\u2019re not covered, all the gains you\u2019ve made by paying less will go out the window. And then some.<\/p>\n\n\n\n<p>Here are a few tips to getting a great deal when you\u2019re looking for your business insurance:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Work with an independent, well-regarded insurance broker. Assuming they\u2019re <a href=\"https:\/\/www.fca.org.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">FCA-approved<\/a> and licensed by them to offer <a href=\"https:\/\/www.fca.org.uk\/firms\/advised-non-advised-sales\" target=\"_blank\" rel=\"noreferrer noopener\">\u2018advised sales\u2019<\/a>, they\u2019ll be able to give you advice and seek out the best deal for your business. Saving you time on your search, getting you the cover you need, and lowering your costs.<\/li>\n\n\n\n<li>Don\u2019t \u2018marry\u2019 yourself to a specific insurer. You\u2019ll unnecessarily restrict yourself on the cover you can get, and probably miss out on finding a better deal and superior cover elsewhere.<\/li>\n\n\n\n<li>Keep a close eye on the needs of your business. Your insurance requirements will probably change almost every year. Make sure you\u2019re on top of what you need and have all the up-to-date information about your business ready to go when renewal rolls around.<\/li>\n\n\n\n<li>Don\u2019t be sucked in by a lower price, especially on a price comparison website. Always do your own research and speak to a broker before committing to insurance on price alone.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Rest easy<\/strong><\/h2>\n\n\n\n<p>Having the right insurance in place helps you rest easy as a small business owner. But it doesn\u2019t always come cheap. And cheap certainly doesn\u2019t mean the best.<\/p>\n\n\n\n<p>Determining how the average cost of small business insurance relates to <em>your<\/em> business is pretty much impossible. And that&#8217;s because business insurance is an ongoing battle. Your needs will change every year, and your business will evolve over time. Your insurance has to evolve with it.<\/p>\n\n\n\n<p>Staying on top of your business insurance helps keep you protected, and stops a potential claim from becoming a disaster.<\/p>\n\n\n\n<p>Want to find out how much small business insurance will cost for you? Or just have some questions about small business insurance costs? Give us a call on <strong>0345 222 5391<\/strong>.<\/p>\n\n\n\n<p><em>Image used under license from Shutterstock.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re reading this, chances are you\u2019re a small business owner. You clicked hoping to find a golden number for how much your insurance is going to cost. Or what typical small business insurance costs are. Unfortunately, it\u2019s not that &hellip; <a href=\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[287,290,132],"tags":[306,137,150,299,266],"class_list":["post-25769","post","type-post","status-publish","format-standard","hentry","category-more-business-insurance","category-self-employed-and-freelance-advice","category-small-business-advice","tag-insurance-costs","tag-insurance-explained","tag-managing-risk","tag-professional-indemnity-insurance","tag-public-liability-insurance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Small business insurance costs<\/title>\r\n<meta name=\"description\" content=\"It&#039;s time to dispel the myths around small business insurance costs. Here&#039;s how your insurer decides what you&#039;ll pay. And why.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs\" \/>\r\n<meta property=\"og:locale\" content=\"en_GB\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Small business insurance costs\" \/>\r\n<meta property=\"og:description\" content=\"It&#039;s time to dispel the myths around small business insurance costs. Here&#039;s how your insurer decides what you&#039;ll pay. And why.\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs\" \/>\r\n<meta property=\"og:site_name\" content=\"PolicyBee news and risk advice\" \/>\r\n<meta property=\"article:published_time\" content=\"2024-11-07T10:27:31+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2025-08-18T13:29:05+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png\" \/>\r\n\t<meta property=\"og:image:width\" content=\"600\" \/>\r\n\t<meta property=\"og:image:height\" content=\"300\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\r\n<meta name=\"author\" content=\"Pete Warner\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@PolicyBee\" \/>\r\n<meta name=\"twitter:site\" content=\"@PolicyBee\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Pete Warner\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs\"},\"author\":{\"name\":\"Pete Warner\",\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/#\/schema\/person\/8503cbee1e5b3842c795256a0c5e53d0\"},\"headline\":\"Small business insurance costs explained\",\"datePublished\":\"2024-11-07T10:27:31+00:00\",\"dateModified\":\"2025-08-18T13:29:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs\"},\"wordCount\":1636,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png\",\"keywords\":[\"insurance costs\",\"insurance explained\",\"managing risk\",\"professional indemnity insurance\",\"public liability insurance\"],\"articleSection\":[\"More business insurance\",\"Self-employed &amp; freelance advice\",\"Small business advice\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs\",\"url\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs\",\"name\":\"Small business insurance costs\",\"isPartOf\":{\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png\",\"datePublished\":\"2024-11-07T10:27:31+00:00\",\"dateModified\":\"2025-08-18T13:29:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/#\/schema\/person\/8503cbee1e5b3842c795256a0c5e53d0\"},\"description\":\"It's time to dispel the myths around small business insurance costs. Here's how your insurer decides what you'll pay. And why.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#primaryimage\",\"url\":\"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png\",\"contentUrl\":\"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png\",\"width\":600,\"height\":300},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.policybee.co.uk\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Small business insurance costs explained\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/#website\",\"url\":\"https:\/\/www.policybee.co.uk\/blog\/\",\"name\":\"PolicyBee news and risk advice\",\"description\":\"Articles and information on professional indemnity insurance, small business news and risk management\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.policybee.co.uk\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.policybee.co.uk\/blog\/#\/schema\/person\/8503cbee1e5b3842c795256a0c5e53d0\",\"name\":\"Pete Warner\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/f564969b62f9e2ddcd7857451a5fea06c6db345efc498dac09620887b63e2a89?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f564969b62f9e2ddcd7857451a5fea06c6db345efc498dac09620887b63e2a89?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f564969b62f9e2ddcd7857451a5fea06c6db345efc498dac09620887b63e2a89?s=96&d=mm&r=g\",\"caption\":\"Pete Warner\"}}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Small business insurance costs","description":"It's time to dispel the myths around small business insurance costs. Here's how your insurer decides what you'll pay. And why.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs","og_locale":"en_GB","og_type":"article","og_title":"Small business insurance costs","og_description":"It's time to dispel the myths around small business insurance costs. Here's how your insurer decides what you'll pay. And why.","og_url":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs","og_site_name":"PolicyBee news and risk advice","article_published_time":"2024-11-07T10:27:31+00:00","article_modified_time":"2025-08-18T13:29:05+00:00","og_image":[{"width":600,"height":300,"url":"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png","type":"image\/png"}],"author":"Pete Warner","twitter_card":"summary_large_image","twitter_creator":"@PolicyBee","twitter_site":"@PolicyBee","twitter_misc":{"Written by":"Pete Warner","Estimated reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#article","isPartOf":{"@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs"},"author":{"name":"Pete Warner","@id":"https:\/\/www.policybee.co.uk\/blog\/#\/schema\/person\/8503cbee1e5b3842c795256a0c5e53d0"},"headline":"Small business insurance costs explained","datePublished":"2024-11-07T10:27:31+00:00","dateModified":"2025-08-18T13:29:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs"},"wordCount":1636,"commentCount":0,"image":{"@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#primaryimage"},"thumbnailUrl":"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png","keywords":["insurance costs","insurance explained","managing risk","professional indemnity insurance","public liability insurance"],"articleSection":["More business insurance","Self-employed &amp; freelance advice","Small business advice"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs","url":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs","name":"Small business insurance costs","isPartOf":{"@id":"https:\/\/www.policybee.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#primaryimage"},"image":{"@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#primaryimage"},"thumbnailUrl":"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png","datePublished":"2024-11-07T10:27:31+00:00","dateModified":"2025-08-18T13:29:05+00:00","author":{"@id":"https:\/\/www.policybee.co.uk\/blog\/#\/schema\/person\/8503cbee1e5b3842c795256a0c5e53d0"},"description":"It's time to dispel the myths around small business insurance costs. Here's how your insurer decides what you'll pay. And why.","breadcrumb":{"@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#primaryimage","url":"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png","contentUrl":"https:\/\/www.policybee.co.uk\/blog\/wp-content\/uploads\/2024\/11\/how-much-does-a-broker-cost-shutterstock-edit.png","width":600,"height":300},{"@type":"BreadcrumbList","@id":"https:\/\/www.policybee.co.uk\/blog\/small-business-insurance-costs#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.policybee.co.uk\/blog"},{"@type":"ListItem","position":2,"name":"Small business insurance costs explained"}]},{"@type":"WebSite","@id":"https:\/\/www.policybee.co.uk\/blog\/#website","url":"https:\/\/www.policybee.co.uk\/blog\/","name":"PolicyBee news and risk advice","description":"Articles and information on professional indemnity insurance, small business news and risk management","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.policybee.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.policybee.co.uk\/blog\/#\/schema\/person\/8503cbee1e5b3842c795256a0c5e53d0","name":"Pete Warner","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/secure.gravatar.com\/avatar\/f564969b62f9e2ddcd7857451a5fea06c6db345efc498dac09620887b63e2a89?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f564969b62f9e2ddcd7857451a5fea06c6db345efc498dac09620887b63e2a89?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f564969b62f9e2ddcd7857451a5fea06c6db345efc498dac09620887b63e2a89?s=96&d=mm&r=g","caption":"Pete Warner"}}]}},"_links":{"self":[{"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/posts\/25769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=25769"}],"version-history":[{"count":18,"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/posts\/25769\/revisions"}],"predecessor-version":[{"id":26879,"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/posts\/25769\/revisions\/26879"}],"wp:attachment":[{"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=25769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=25769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.policybee.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=25769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}