Turnover

The Turnover is the amount of money that goes through your business accounts in your financial year. This should include VAT. We always ask that you provide the turnover from the close of your last financial year. If you are a new startup company, then this should be a conservative estimate instead.

You will always be able to call up and increase this throughout the policy year, but you will not receive a refund if you do not hit the turnover estimate you are hoping for, so it is always best to be conservative.

If you had a really good year last year, due to a contract you may have had that you have no longer for example, and know that your turnover is going to reduce, then we ask that you provide your conservative estimate for the next year instead.

If you are unsure of the turnover level you should select, please contact our UK based team on 0330 118 0007.