AXA business insurance review

Find out all you need to know about AXA's business insurance cover and whether it's right for your business.

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Ronny Lavie
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Who is AXA?

AXA has been offering a variety of insurance products to UK customers for decades, and is now serving more than 100 million people worldwide.

As well as business insurance, the company offers car, home, travel, landlord, van and health insurance.

Who underwrites the business insurance from AXA?

AXA does its own underwriting as AXA Insurance UK Plc.

The company is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

What types of business insurance policies are available?

AXA offers a number of business insurance policies, including:

There are also a number of optional extras on offer for an additional premium, including:

AXA has policies tailored to a variety of trades and professions, such as builders, carpenters, plumbers, cake makers, shop owners, personal trainers and IT contractors (plus many more).

Landlord and van insurance are separate categories, but can also be taken out through AXA.

What does AXA business insurance cover?

AXA offers different combinations depending on your needs, so your exact spec will be personal to you.

Here’s what’s on offer for AXA’s four main business insurance components:

Public liability insurance:

  • Up to £5 million protection cover
  • Cover for legal defence costs and compensation
  • Free cover for temporary staff up to 50 days per year
  • £250 compensation per day for court attendance to defend a claim made against you
  • Access to a 24-hour legal hotline

Professional indemnity insurance:

  • Choice of cover levels (up to £5 million)
  • Cover for defence costs, including solicitors’ fees and expert advice
  • Cover for compensation bills

Employers’ liability insurance:

  • £10 million cover for legal costs and compensation
  • Legal costs for health and safety law prosecution covered
  • Free cover for temporary staff up to 50 days per year
  • £250 compensation per day for court attendance to defend a claim made against you

Business contents insurance:

  • Accidental damage cover for your contents
  • 24-hour glass replacement
  • Access to a 24-hour emergency helpline
  • Seasonal increases for stock in accordance with your needs

How much cover do I need?

AXA’s Business Insurance Wizard is a tool devised to help you figure out what level of cover you need by answering just four questions.

You can find it on AXA’s business insurance website.

How much does business cover from AXA cost?

The exact cost of your cover will depend on the specifications of your policy.

According to AXA, 10% of its customers pay £80 a year.

Customers who purchase cover online get a 10% discount.

What is the claims process for AXA business insurance?

To make a claim, call AXA’s claims line on 0345 600 2715.

The claims office is open Monday to Friday 9am-5pm (excluding bank holidays). Outside of these hours, the call will be answered by AXA’s out-of-hours claims team.

You can also make a claim by email. The email address will vary according to the kind of insurance the claim relates to. All the details can be found on the dedicated claims page on the AXA website.

AXA advises the following actions before contacting to make a claim:

  • Take all reasonable steps to prevent further loss or damage and recover lost property to minimise the claim.
  • Do not discuss, accept, negotiate, pay, settle, admit or deny any claim before speaking to the claims team.
  • In the event of any loss or damage due to malicious activity, contact the police immediately and obtain a crime reference number.
  • Check your policy documents to find out what’s covered and what excess is payable.
  • Have your policy number to hand, along with any other relevant information or documents.

It’s vital that you let your insurer know about an incident as soon as possible. Failure to do this could result in a rejected claim later on.

AXA business insurance customer reviews

On customer review platform Trustpilot, AXA as a company has 3.7 out of 5 stars and a rating of “Average” (based on more than 2,500 reviews).

On similar platform Feefo, AXA’s business insurance has 4.6 out of 5 stars, based on more than 2,500 reviews. The company’s claim handling is rated 3.1 out of 5 stars on the same platform, based on over 50 reviews.

Customers praise the clear and helpful service, but some complained of slow claim handling and claim rejection/underpayment.

Pros and cons for AXA business insurance

Pros

  • Flexible cover so you can tailor your policy to your needs
  • Policies for a variety of specific trades and professions
  • Out-of-hours claim line available

Cons

  • Only up to £5 million for public liability cover available

Verdict

AXA’s business insurance cover is comprehensive and flexible, meaning it can be tailored to suit your needs.

Specialist policies are available for a wide range of trades and professions and claims can be made 24/7.

The maximum cover for public liability is a little on the low side (£5 million), but if you don’t require more than that, the other products on offer provide a good level of cover.

Get started by visiting AXA’s website and sign up for a policy. If you have read this review and decided that AXA is not for you, you can also compare other business insurance policies on the market.

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