Insurance question

**LondonManc** · 16 February 2017, 12:01

Welcome.

Obviously EL not needed - often with contracts, the PI/PLI insurance requirements are stipulated (and can vary on a contract-to-contract basis). Shop around, Hiscox, QDOS and other companies generally offer the insurance that you need and can turn it round in minutes so that you're insured and ready to go straight away.
If you're paying more than £50 a month, you're definitely doing it wrong - if you're working from home exclusively, it should be considerably less but as I said, it will be driven by the contractual requirements usually.

**Louisa@AardvarkAccounting** · 16 February 2017, 12:11

Usually your contract will stipulate what cover you need, this is most likely about 1 million for PI but this can go up to around 5 million.

You might need to consider PL, even if you are mainly working from home. As if you ever do go to another site or even a client comes to visit you, you'll need to be covered, in case anyone injures themselves or any property is damaged.

As for EL, you only need this if you have any other employees or likely to substitute any of the services.

I'd recommend Kingsbridge for insurance, they will tailor the package to you and most of these include occupational personal accident cover too. With a price of around £300-£400 per annum. Plus, they have a price promise too.

**northernladuk** · 16 February 2017, 12:29

Searching the site will help you with many of the basic questions new contractors face. It's highly likely many others will have asked exactly the same question.

The best way to search the forums is using the google method as the search box at the top right is a bit pants.

The method is described here.
http://forums.contractoruk.com/welco...uk-forums.html

The search would have probably found a thread discussing costs that is currently only 7 or 8 posts below this which would be helpful for example.

http://forums.contractoruk.com/accou...insurance.html

A fundamental tip is to always read your contract and understand it though.

**Patrick@Intouch** · 16 February 2017, 12:31

Agreed, Kingsbridge are a well known provider of insurance for contractors and are partnered with us.

Please make sure to check that these insurances aren't included within your accountancy package.

**Becca** · 16 February 2017, 12:43

Thanks all, very helpful, I shall get searching when my little snotbag lets me. Sorry northernlad and thanks for the tip, I did attempt some searching, can't believe there's a thread from only a few days ago.

**Invisiblehand** · 16 February 2017, 12:51

Originally posted by Patrick@Intouch View Post

Please make sure to check that these insurances aren't included within your accountancy package.

Pretty sure they won't be.

**TheCyclingProgrammer** · 16 February 2017, 12:51

PI is generally a good idea. Public Liability if you ever go on site or have clients visit you (home insurance often has some form of public liability for visitors to your home but they may not cover business visitors). EL is not required in your scenario unless you have employees or supply a worker to the client (but not if you are simply sub-contracting part of the work I don't think).

**jmo21** · 16 February 2017, 13:14

Originally posted by Becca View Post

Thanks all, very helpful, I shall get searching when my little snotbag lets me. Sorry northernlad and thanks for the tip, I did attempt some searching, can't believe there's a thread from only a few days ago.

no need to thank him, that's a bot that auto-posts to questions like this.

**northernladuk** · 16 February 2017, 13:16

Originally posted by jmo21 View Post

no need to thank him, that's a bot that auto-posts to questions like this.

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Insurance question