Professional Indemnity & Public Liability Insurance - QDOS vs Huxley

[cohoda]

Has anyone got any comments on Huxley vs Qdos PI / PL insurance?
Currently with Huxley, but Qdos seems to work out a fair bit cheaper, for same (financial / on paper) level of cover?

[northernladuk]

Has anyone got any comments on Huxley vs Qdos PI / PL insurance?
Currently with Huxley, but Qdos seems to work out a fair bit cheaper, for same (financial / on paper) level of cover?

You are never going to claim on it so go cheaper

[malvolio]

You hope you're never going to claim on it. It's not a certainty, that's why it's called "insurance"...

Anyway, the premium is totally based on risk which is laid off by the guys at the top of the food chain in Lloyds. If one supplier is significantly cheaper than another, they aren't covering the same risks. You need to find out what the cheap one is omitting and see if you think it significant. Not much point in paying for insurance that doesn't cover what you need covering, any more than there is on paying for what you won't need.

[SimonMac]

QDOS also has the bonus of 3 Contract Reviews included in the price. This swung it for me

[northernladuk]

You hope you're never going to claim on it. It's not a certainty, that's why it's called "insurance"...

Anyway, the premium is totally based on risk which is laid off by the guys at the top of the food chain in Lloyds. If one supplier is significantly cheaper than another, they aren't covering the same risks. You need to find out what the cheap one is omitting and see if you think it significant. Not much point in paying for insurance that doesn't cover what you need covering, any more than there is on paying for what you won't need.

Indeed but we have had enough discussions about how many times this has been paid out. We have also had a discussion that insurance is risk based and the cost of it is related to that risk. Bearing in mind PI/PL comes with a fixed price makes me think there isn't enough evidence to have to go to risk based approach. I pay the same for pushing pens as a DB does working on live data. If these insurances were paying out regularly they would be trying to recoup costs from high risk areas just like any other insurance does. I am not saying don't take it but once you have it there is a lot more in life you need to worry about if you get my meaning. Pay it and forget it.