Do I need tax enquiry insurance?

[sergeantpluck]

First time contractor here (well in a few weeks I will be) with a contract from the USA (company has no presence in the UK) so I need to make my own IR35 assessment. I'm going to pay for a company to do an assessment for me but since they often offer such assessments free as part of tax enquiry insurance I'd hate to buy the assessment first and then find out I need insurance after and miss the deal. My question is if I have to be inside IR35 would I still need tax enquiry insurance? I'm thinking not if I just become a regular PAYE employee of my own company? I asked someone from a big-name contractor insurance provider and they said they couldn't give me advice.

[ladymuck]

Think about this way: if the insurance is provided on the basis that the contract and working practices assessment has passed the insurers checks, then they are not expecting there to be a claim...

Of course, there's always a chance of an investigation. How big that chance is, no-one knows.