Some business insurance is legally required in the UK: for example, most employers must have employers’ liability cover, and vehicles used on public roads need suitable motor insurance. Trading without required cover can lead to fines, enforcement action and problems meeting contractual or regulatory requirements. Even where insurance is optional, your business may have to pay for property damage, injuries, legal costs or professional claims itself, potentially putting business and personal assets at risk. Requirements vary by activity and structure, so check GOV.UK and consider advice from an FCA-authorised broker or a solicitor regulated by the SRA.