Pi/PL/El insurance renewal timing.

[SlipTheJab]

MY PI/PL/EL insurances are up at the end of this month, my next contract renewal is 5 months away, do I bother renewing them straight away or wait until I next need to show evidence of them? Lets face it the only reason we fork out for them is because evidence of holding them is required when we sign a contract, on ones ever claimed on them so its the equivalent of throwing 300 odd quid out of the window every year. Thoughts?

[VillageContractor]

MY PI/PL/EL insurances are up at the end of this month, my next contract renewal is 5 months away, do I bother renewing them straight away or wait until I next need to show evidence of them? Lets face it the only reason we fork out for them is because evidence of holding them is required when we sign a contract, on ones ever claimed on them so its the equivalent of throwing 300 odd quid out of the window every year. Thoughts?

Let me guess, you don't have car insurance either

[SlipTheJab]

Let me guess, you don't have car insurance either

Eer no, last time I looked people have claimed on car insurance, and it a criminal offence not to have it...PI/PL insurances etc are just a box ticking exercise IMO.

[northernladuk]

Thoughts?

Yeah. MF had one once. HTH.

[northernladuk]

It is a legal requirement to have EL if you are paying the wife though isn't it?

[SlipTheJab]

It is a legal requirement to have EL if you are paying the wife though isn't it?

Even if she is a director?

[BrilloPad]

Eer no, last time I looked people have claimed on car insurance, and it a criminal offence not to have it...PI/PL insurances etc are just a box ticking exercise IMO.

One CUK poster recently thought that and ended up being stuffed.

Don't do it.

[northernladuk]

Even if she is a director?

I'll let you work that out

[SlipTheJab]

I'll let you work that out

Are you feeling OK? No 'What does your accountant say?', 'Have you done a search?'

[MrMarkyMark]

I prefer to have it, especially as I usually work with live systems.
I would also suggest in not keeping them running it could be a hole in an IR35 defence.

Driving without car insurance however, fill yer boots