Cheapest Insurance

[TheCyclingProgrammer]

That is cheap but I assume that only applies if you're working full time from home, as an on site contractor (Who maybe works from home 1 or 2 days a week) it wouldn't apply?

I don't think so. Why wouldn't it apply?

If you work more on-site then you may have less need for home office cover however my cover does include specified items all risks cover which covers your stuff when you're on-site.

https://www.directlineforbusiness.co...ness-insurance

[SlipTheJab]

PI - always stuck with QDOS.
PL comes bundled with EL normally (even if you don't need it) and I've found Direct Line to be the cheapest - under £100 and that includes cover for office equipment too.

Edit: this is the exact policy, I doubt you'll find cheaper:

Direct Line Business from Home:
Employers liability: £10mil
All risks cover, specified items: 1 mobile phone (up to £500), 1 laptop, 1 iPad
£50k loss of income (business interruption)
£1000 business contents (at home only)
Public liability: £2mil

Premium: £83/year.

That is cheap but I assume that only applies if you're working full time from home, as an on site contractor (Who maybe works from home 1 or 2 days a week) it wouldn't apply?

[TheCyclingProgrammer]

Most home contents insurers will cover you for £5-10K for business contents as standard if you do computer work at home.

So you really want it for the PI, EL and business interruption.

They do, but normally only for equipment used/kept at home, generally not portable equipment which all of my specified items are.

You should also check that your insurer is happy to cover equipment owned by YourCo if you're going to rely on this, some will, some won't.

The only annoying thing with Direct Line is that mobile phone cover is limited to £500 which seems silly as loads of new smart phones cost more than that.

[SueEllen]

PI - always stuck with QDOS.
PL comes bundled with EL normally (even if you don't need it) and I've found Direct Line to be the cheapest - under £100 and that includes cover for office equipment too.

Edit: this is the exact policy, I doubt you'll find cheaper:

Direct Line Business from Home:
Employers liability: £10mil
All risks cover, specified items: 1 mobile phone (up to £500), 1 laptop, 1 iPad
£50k loss of income (business interruption)
£1000 business contents (at home only)
Public liability: £2mil

Premium: £83/year.

Most home contents insurers will cover you for £5-10K for business contents as standard if you do computer work at home.

So you really want it for the PI, EL and business interruption.

[TheCyclingProgrammer]

PI - always stuck with QDOS.
PL comes bundled with EL normally (even if you don't need it) and I've found Direct Line to be the cheapest - under £100 and that includes cover for office equipment too.

Edit: this is the exact policy, I doubt you'll find cheaper:

Direct Line Business from Home:
Employers liability: £10mil
All risks cover, specified items: 1 mobile phone (up to £500), 1 laptop, 1 iPad
£50k loss of income (business interruption)
£1000 business contents (at home only)
Public liability: £2mil

Premium: £83/year.

[SueEllen]

I

Best and cheapest aren't the same thing.

I use Kingsbridge. PM me if you end up using them as I may get a referral fee!

Most insurance policies have an excess.

What you commonly find is cheaper policies have a bigger excess. However for a couple of quid more you could end up with a smaller excess or none at all.

[Maslins]

For basic IT work it's not that expensive, all things considered, given you have to have it anyway. If you're into safety critical stuff for example, it goes up with a bang.

Yup, one of our clients helps with safety on aeroplanes. We assumed his PI cost was a typo...it wasn't.

If you think the risk is very low and there's an element of it being a "tick box" exercise just to please a client, you can do a compare the market type job. If you think the risk is very real, worth discussing with a proper insurance broker to ensure any insurance you do get actually covers you for the potential issues you could face.

[Invisiblehand]

Best and cheapest aren't the same thing.

I use Kingsbridge. PM me if you end up using them as I may get a referral fee!

[northernladuk]

Doesn't make it cheaper but you'll save lots of bunnies and bambi's from gruesome horrible deaths if you use...

www.qdoscontractor.com/code/QCL57133

[Grasser73]

+1 for QDOS

[malvolio]

"Cheapest" is a relative term. The thing to remember that for the same turnover and industry vertical the risk to the insurer is the same. So if you find one that is significantly cheaper than the others, you first have to ask which bit they aren't covering and whether or not that's significant.

For basic IT work it's not that expensive, all things considered, given you have to have it anyway. If you're into safety critical stuff for example, it goes up with a bang.

[northernladuk]

An excellent thread starting by D00hg with a poll on how much here. From 2005 but still should be a good guide

http://forums.contractoruk.com/busin...ou-pay-pi.html

[northernladuk]

I get mine from QDOS. Can't comment on price comparisons though. Can't imagine the prices are hugely different.
https://www.qdoscontractor.com/insur...nity-insurance

[CoolCat]

So where is best for professional indemnity and public liability insurance?