Business insurance to compensate not working due to the broken laptop

[drumtochty]

Cheap 2nd laptop because business interruption insurance will have a we do not pay the first £XXX of your claim.

[TheFaQQer]

Or just buy a cheapo laptop as a spare.

This.

I use my own equipment for this client, and run everything on a virtual machine. If this laptop dies, then I'll copy the VM image from the backup onto my spare laptop and keep working - downtime of a couple of hours while it copies over.

[Lance]

Was this a clientco laptop or your own one? Why were you using your own if that was the case, and if that was the case, surely it's you responsibilty to ensure continuity.

Sounds like a bad electrician, who's screwdriver is broken so he can't work for 2 days.

I reckon a new laptop can be bought as quick as a screwdriver. Might take a little longer to setup, but still half a day should be the maximum.

[WTFH]

Was this a clientco laptop or your own one? Why were you using your own if that was the case, and if that was the case, surely it's you responsibilty to ensure continuity.

Good point, the OP wasn't clear on that. I've assumed it was his own/his company one, and not one belonging to the client.

[stek]

Was this a clientco laptop or your own one? Why were you using your own if that was the case, and if that was the case, surely it's you responsibilty to ensure continuity.

[WTFH]

You could take out insurance to cover the repair of a laptop, but your "insurance for loss of income due to something you did" is what we call a war chest.

So, each billable day leave at least 10% of your rate in your company (as well as enough to cover CT, VAT, etc), then on days when you're not working you can just draw on that. Once you've built up a war chest of around about 6 months income, then you can start putting the money into a pension or similar.
That is more cost effective than any insurance policy and it is you taking responsibility, not looking for compensation when you do something.

[garethevans1986]

Or don't break the laptop in the first place ;-)

[Snarf]

Wouldn't the right answer be to pay for insurance that gives you immediate access to a replacement until yours is fixed? Should be a lot cheaper than 2 x your day rate...

Or just buy a cheapo laptop as a spare.

[TheCyclingProgrammer]

I think I have business interruption for this kind of thing with my hiscox policy.

[MrButton]

If IPSE covers people's day rates because of broken laptops I'll cancel my membership tomorrow.

+1

[l35kee]

Wouldn't the right answer be to pay for insurance that gives you immediate access to a replacement until yours is fixed? Should be a lot cheaper than 2 x your day rate...

[northernladuk]

If IPSE covers people's day rates because of broken laptops I'll cancel my membership tomorrow.

[Goggy]

IPSE+ membership includes business interruption cover but I think even that would be stretching it - and no use if you're not a member of course!

I'm IPSE+ member and business interruption sounds relevant.
I agree that it would be a stretch as it's not a flood or fire even though the result is the same, e.g business can't function due to the unplanned circumstances.

Thank you!

[malvolio]

Claim against who, exactly? Repair costs are fair enough but loss of income is a whole other beast: especially when you consider you didn't do any work for the client, so where does the actual loss arise? Especially as both sides seem to have agreed that no work could (or needed to) be done.

IPSE+ membership includes business interruption cover but I think even that would be stretching it - and no use if you're not a member of course!

[Goggy]

Hi

I had my business laptop broken and couldn't work for 2 days . The repairs didn't cost much, but I won't be paid by the client the days off work, that is impactful.
What kind of insurance can I buy/use to cover up my business in such cases? E.g if I have xxx daily rate and couldn't work for N days, then would have this compensated.
(There was nothing very urgent so client was ok for me being off, therefore the client won't raise any claims against my business and it's purely my business loss)
What documents would normally be required for a claim? I have a receipt for the laptop repairs would that be enough?

Thank you