Insurance renewals

Your annual review and renewal of the whole commercial insurance package — public and product liability, employers' liability, contents and buildings, business interruption, and loss of licence cover if you hold one. Trade changes over the year (new equipment, higher turnover, a new outdoor area, more staff) all shift what you actually need covered.

Letting a policy lapse leaves you trading uninsured, sometimes without noticing until you need to claim. Auto-renewing without reviewing means you can be paying for cover that no longer matches your business, or discover a gap — like an uncovered outdoor area or under-declared turnover — only after something has gone wrong, which is exactly when an insurer can decline a claim.

Watch out for

• Letting the renewal auto-continue without shopping around — loyalty is rarely rewarded on price, and a broker can often beat the incumbent's renewal quote.
• Renewing on last year's declared turnover and rateable value after a good year, which under-insures you and can void or reduce a claim.
• Missing the renewal date because it is buried in an email from the insurer rather than on your own calendar, so cover lapses for days before anyone notices.

Sources

• BIBA — Find insurance checked 2026-09-02
• GOV.UK — Employers' liability insurance checked 2026-09-02

See also

• Employers' liability insurance— this becomes part of getting open →
• Build your commercial insurance package— this becomes part of getting open →