Reply to: Contractors Insurance cover

[Ardesco]

If you aren't a PCG member have a hunt around on google for a discount code. I saved 15% my first year doing so

[Kess]

I'm considering a similar Caunce O’Hara PI policy to the OP and notice the insurance includes optional "Accidental Temporary Total Disablement" which pays a weekly sum if you're unable to work due to a serious accident. The "Sickness Extension" option provides similar payments if you cannot work through illness.

Has anyone taken these options up? They sound like sensible extras for a contractor but are there pitfalls, e.g. would they count as personal BIKs which ought to be kept separate from the company insurance?

Any comments would be much appreciated.

[rootsnall]

My agency asked me to get it, apparently the client was insisting on it, talked to the client and they said the agent was talking rubbish. So told the agent I was refusing to get it and if necessary the client could terminate my contract.....

The agent paid for my insurance

My current contract says I should have it, I'm ignoring it at the moment and appear to be getting away with it. The other contractors here with different agencies don't have it so I know its not down to the client. I might go for the refusal approach if it comes to the crunch. It would be silly to lose the contract for the sake of less than a days pay but I'm feeling bolshy !

[malvolio]

Right just got the qoutes in, changed the PI level to £100k instead of the £1m and I can also change the level mid-way as long as I make a no claims declaration.

PCG Plus Single: £258.50 (per annum)
PCG Combined Insurance: £170 (per annum)

Does sound like the norm???

Sounds about right to me.

Now wait for someone to turn up and say it's more expensive than £480 a year and you're not troubled about what to do with all those extra free benefits...

[JulesG]

Right just got the qoutes in, changed the PI level to £100k instead of the £1m and I can also change the level mid-way as long as I make a no claims declaration.

PCG Plus Single: £258.50 (per annum)
PCG Combined Insurance: £170 (per annum)

Does sound like the norm???

[sathyaram_s]

In which case, I would recommend to go for the least possible PI cover. Before buying, call them and confirm that you can increse the cover level midway during the year if needed ....

Just checked my contract ... no mention of any insurance cover that I should have in place ... Mmmm strange!??!

[Mustang]

Then again, if agents were intelligent, life would be a lot simpler...

Ain't that the truth!!!

It gets so tiring having to explain something to convince an agent when they clearly don't understand the role they are trying to fill and how you are suitable to fill it.....

[JulesG]

Just checked my contract ... no mention of any insurance cover that I should have in place ... Mmmm strange!??!

[malvolio]

Hey - if you can get them to pay for it, you may as well though!

Well yeah, but it seems a bit weird to risk the gig and their commission so that they can pay money they don't have to for an insurance they will never need.

Then again, if agents were intelligent, life would be a lot simpler...

[TheFaQQer]

Why the f*** does the agent want you to have PI. Exactly how do they think you are going to be liable to them for anything at all, much less a few hundred thousand...?

Jeez, the lunatics really are running the asylum these days.

Hey - if you can get them to pay for it, you may as well though!

[malvolio]

My agency asked me to get it, apparently the client was insisting on it, talked to the client and they said the agent was talking rubbish. So told the agent I was refusing to get it and if necessary the client could terminate my contract.....

The agent paid for my insurance

Why the f*** does the agent want you to have PI. Exactly how do they think you are going to be liable to them for anything at all, much less a few hundred thousand...?

Jeez, the lunatics really are running the asylum these days.

[tay]

My agency asked me to get it, apparently the client was insisting on it, talked to the client and they said the agent was talking rubbish. So told the agent I was refusing to get it and if necessary the client could terminate my contract.....

The agent paid for my insurance

[boxman]

Yup I agree about PI cover level.

Randell Dorling's PCG cover is £100k plus £2m shared which should be more than enough. A recent client asked for £1m (non-shared) so I said not a problem but you'll have to pay for the additional £900,000. Not surprisingly they decided that the RD/PCG cover was sufficient after all.

[sathyaram_s]

Do you need 1m PI cover ? What does your contract say ? Unless you are doing very high profile work or you are responsible for the whole deliverable, you are unlikely to be successfully sued for a million, IMHO ... So, you might as well go for a lower cover if the contract doesn't specify 1 m ...

Legal expenses covers what PCG Standard membership insurance covers. So, if you intend to join PCG, you can exclude it ... I'm not sure if you need H&S cover at all ..

If you intend to join PCG, for the first year or two, you do not need PCGPlus cover ... PCG Standard willl be good enough ...

Hi All,

In the process of getting insurance cover does the following quote look sufficient have no idea how much to be insured for?!?!?

Quick Quote
Click here to read the FAQ's

Press for Further Help & Assistance.

Profession IT/Computer Contractors

Turnover £50,001 - £100,000
Number of Employees 1
Level Of CoverProfessional Indemnity Policy £1,000,000
Business Combined Policy Quote Required
Office Contents £5,000
Business Interruption £2,500
Employers Liability £5,000,000
Public Liability £1,000,000
Include Manual Work No

Include Offshore Work Not Required
PA, Sickness & Travel Policy Quote Required
Accidental Death & Permanent Disability £60,000
Accidental Temporary Total Disablement £400.00
Sickness Extension Required No
Travel Cover Business Travel

Legal Expenses £50,000
Health & Safety Policy Quote Required
Price Indication
Professional Indemnity Insurance £ 370.00
Business & Liability Insurance £ 112.00
PA, Sickness & Travel Insurance £ 174.25
Legal Expenses Insurance £ 75.00
Health & Safety Policy £25.00

Total Cost of Policies £756.25


Thanks for any advice ...

[MickeyP]

Cheers. Roger and out.