Which insurance do I need?

[Bazdaa]

I had PI and public insurance from Hiscox but this year I went for the products coming through Iprofile because they were 50% cheaper.

I started contracting 2 years ago and all my contracts mentioned that I needed to have PI insurance.

Well perhaps if they had a link on thier website, then they might get a bit more business!!

Bazdaa

[SuperZ]

Perhaps quoting my example of knocking the MD's PC over?

Fair point, sorry, lost track of the posts. But to make point clear, I wasn`t contracdicting what ye said, just giving my opinion to original poster

[malvolio]

All mine have mentioned it somewhere but only once has an agency asked for evidence, hence why I've only had it for 12 months in 6 years of contracting.

Sigh....

Perhaps they arssumed you would honour your contract to the same extent you expect them to do...?

[gingerjedi]

I had PI and public insurance from Hiscox but this year I went for the products coming through Iprofile because they were 50% cheaper.

I started contracting 2 years ago and all my contracts mentioned that I needed to have PI insurance.

All mine have mentioned it somewhere but only once has an agency asked for evidence, hence why I've only had it for 12 months in 6 years of contracting.

[bledubd]

I had PI and public insurance from Hiscox but this year I went for the products coming through Iprofile because they were 50% cheaper.

I started contracting 2 years ago and all my contracts mentioned that I needed to have PI insurance.

[FarmerPalmer]

Put yer hand up if you`ve needed to use the insurance? I find most companies treat ya like an employee anyway. Knock the MD`s PC on the floor and you`re out on your ear rather than the company trying to claim from you.

Only get cover for what you really need - most insurance is a waste of money but some you need (like car insurance)

If they do I hope you are declaring yourself inside IR35.

[malvolio]

And what made you think my reply was in response to yours? .

Perhaps quoting my example of knocking the MD's PC over?

[SuperZ]

Thank you for the professional's viewpoint.

I said "You need PI if it's in your contract" Perhaps you should leave the advice to the grownups.

And what made you think my reply was in response to yours? I think you felt I was contradicting what you said and you unfavorably got arsey. You wouldn`t happen to be someone who always has to be right would you? I hadn`t even seen your reply


Been contracting for years, many contracts and to date have never needed such insurance or have had it at no cost to myself (now how did i do that?). As I said "only take out what you really need" - in other words only if in contract.

[malvolio]

Put yer hand up if you`ve needed to use the insurance? I find most companies treat ya like an employee anyway. Knock the MD`s PC on the floor and you`re out on your ear rather than the company trying to claim from you.

Only get cover for what you really need - most insurance is a waste of money but some you need (like car insurance)

Thank you for the professional's viewpoint.

I said "You need PI if it's in your contract" Perhaps you should leave the advice to the grownups.

[SuperZ]

Put yer hand up if you`ve needed to use the insurance? I find most companies treat ya like an employee anyway. Knock the MD`s PC on the floor and you`re out on your ear rather than the company trying to claim from you.

Only get cover for what you really need - most insurance is a waste of money but some you need (like car insurance)

[malvolio]

Hi,

I recently setup a ltd company and while I was aware that I would professional indemnity insurance. I was not aware that I would need public liability, legal cover etc!

Can anyone rec any companies that I should go to, honest opinion of what I need (rather than a sales persons), as well as how much I can expect to pay.

Have to admit I got a bit of a shock when I checked the prices on this site.

P.S. This needs to be in place by Monday morning.

Thanks in advance

Bazdaa

How much you pay in premiums is a variable, depending on both your gross income and what it is you do for a living; clearly people working on safety critical systems will have a higher risk than someone writing financial analyses. Prices start at around £200 pa but the only way to get a quote is to shop around.

The trick is to ue someone who speclialises in the freelancer. If you join the PCG (you have of course, haven't you? ) you can get a discount through Randell Dorling, and Chaunce O'Hara will usually be pretty close anyway. Both will back date cover to some extent so there's not that much need to panic.

You need PI if it's in your contract, but you should have it anyway just in case. It is invariably bundled with PLI, which you need just in case you knock the MD's PC off his desk and smash it or something. ELI isn't really necessary, unless of course you have a substitution clause in which case you will need it, but it costs damn all anyway so isn't worth arguing about.

[Bazdaa]

Hi,

I recently setup a ltd company and while I was aware that I would professional indemnity insurance. I was not aware that I would need public liability, legal cover etc!

Can anyone rec any companies that I should go to, honest opinion of what I need (rather than a sales persons), as well as how much I can expect to pay.

Have to admit I got a bit of a shock when I checked the prices on this site.

P.S. This needs to be in place by Monday morning.

Thanks in advance

Bazdaa