Reply to: Where to buy professional indemnity and public liability insurance?

[northernladuk]

To be fair though, I could insure you for 50p per year and you'd be a very very happy customer until you had to make a claim.

Being happy that you've purchased a product and not had to use it is not a particularly useful recommendation

Totally right, more so with insurance than any other service as well. You don't pay more for a good service, you pay nore for less chance of them throwing your claim out. Thieving barstewards. I don't mean QDOS, just general insurances.

[TestMangler]

I am a happy QDOS customer as well.

To be fair though, I could insure you for 50p per year and you'd be a very very happy customer until you had to make a claim.

Being happy that you've purchased a product and not had to use it is not a particularly useful recommendation

[Maslins]

There's just a little bit of a hint there, isn't there...?

The risk is exactly the same. As are the underwriting costs, roughly speaking. So what are QDOS not covering? Time for you to do some further reading, I believe.

And when you find out, let the rest of us know...

What I heard (from an admittedly biased source, QDOS themselves) is that Hiscox rely mainly on accountant's recommendations and pay far higher commissions to referrers than QDOS, which is reflected in higher prices to end users.

Theory being client probably won't bother to get alternative quotes if their accountant recommends someone.

[Waldorf]

I am a happy QDOS customer as well.

[malvolio]

Agreed wholeheartedly. The reason I was asking was because the spread in the insurance rates is fairly varied, e.g. the same cover with QDOS and Hiscox ranges from GBP19 per month to GBP55 per month.

So I was just wondering if one was preferred over the other.

There's just a little bit of a hint there, isn't there...?

The risk is exactly the same. As are the underwriting costs, roughly speaking. So what are QDOS not covering? Time for you to do some further reading, I believe.

And when you find out, let the rest of us know...

[northernladuk]

indemnity site:forums.contractoruk.com/accounting-legal - Google Search

[insomniac]

Gonna have to do better research than this if you are going to cut it IMO. It takes you longer to log in and ask a question to which you get a flat answer with no related information than it would to use google or search these forums and get a raft of associated information as well as the answer.
You can't rely on a free forum to run your business.

Agreed wholeheartedly. The reason I was asking was because the spread in the insurance rates is fairly varied, e.g. the same cover with QDOS and Hiscox ranges from GBP19 per month to GBP55 per month.

So I was just wondering if one was preferred over the other.

[Kugel]

Why not? I do

+1 for relying on free forum to run business.

+1 for QDOS.

[SimonMac]

You can't rely on a free forum to run your business.

Why not? I do

[Scrag Meister]

+1 for QDOS.

Never had to claim, so unable to vouch for efficiency if you ever have to use it in anger.

[jaketame]

+1 for QDOS.

And another! All insurances i need for £20 a month!

[Maslins]

I have mine through QDOS who also offer the bonus of a free contract review if you take out a policy with them

+1 for QDOS.

[northernladuk]

Hello,

I am a first-time contractor and need to purchase this insurance to comply with the terms of my contract. Where does one normally purchase this insurance from?

Thank you.

Gonna have to do better research than this if you are going to cut it IMO. It takes you longer to log in and ask a question to which you get a flat answer with no related information than it would to use google or search these forums and get a raft of associated information as well as the answer.
You can't rely on a free forum to run your business.

[SimonMac]

I have mine through QDOS who also offer the bonus of a free contract review if you take out a policy with them

[Andrew at Boox]

Use Google to do a search. There's loads of brokers out there, but the most comon one I've seen used is direct with Hiscox - Hiscox UK | Business Insurance, Specialist Home Insurance & more.

Remember this can be claimed back as a business expense so if you pay for it from your personal funds, assuming you're not fully set up with your Limited Company yet, make sure your accountant puts it through the books.