insurance types

[loneb]

I have got PI however should I consider any other types of insurance? I have seen people mention IR35 insurance (something along those lines) however is this needed?

[mudskipper]

I have got PI however should I consider any other types of insurance? I have seen people mention IR35 insurance (something along those lines) however is this needed?

As with many insurances, it's based on your attitude to risk. You only need whatever your contract says you need (probably PI).

Many people have tax investigation insurance, which covers IR35 and other tax investigations, a smaller number of people take out further insurance to cover the tax and penalties owed if found to be inside.

IPSE+ membership includes lots of insurances - tax investigation, business continuity (e.g. jury service cover), agent going bust etc as well as a host of other stuff

https://www.ipse.co.uk/what-we-do

All of these can be bought individually from other providers too - if you just want tax investigation cover, there are much cheaper options, and InTouch will be including it as part of their accountancy package offering from October.

[SueEllen]

Make sure if you have a car you have business insurance on it. It's normally thrown in free* if you are over 25. Even if you are permanent it's worth having it.

The other insurances depend on your contract and attitude to risk.

*By that I mean if you ask for it in addition it doesn't cost anything extra.

[JRCT]

IPSE+. I only took this out earlier this year, my main worry being called for jury service, for some reason.

Then, in July I had a brain haemorrhage and had to have a month in hospital trying to remember what my name was.

They pay out £2k for that forced time out. Not a lot in the scheme of things, but certainly worth having.

In more ways than one, in this case, it was a no-brainer (do you see what I did, there).

[mudskipper]

IPSE+. I only took this out earlier this year, my main worry being called for jury service, for some reason.

Then, in July I had a brain haemorrhage and had to have a month in hospital trying to remember what my name was.

They pay out £2k for that forced time out. Not a lot in the scheme of things, but certainly worth having.

In more ways than one, in this case, it was a no-brainer (do you see what I did, there).

Blimey - you OK now?

[JRCT]

Blimey - you OK now?

I'm getting there. Thanks.

Considering what could have happened, I'm doing remarkably well. My short term memory is not great, which is affecting work slightly, but everyone has been great so I can't complain.

[TheCyclingProgrammer]

If you're working on-site, then public liability insurance might be worth having.