Do you have just Professional Indemnity insurance or Public Liability too?

[Contreras]

As I have said, it adds credibility to your trading activities but thank you for the enlightenment. I really believed PL was compulsory although EL is not required until the moment you employ another person, spouse as an employee will trigger it.

Some will have you believe that not having EL insurance invalidates your RoS clause.

(More IR35 FUD, IMHO, but there you go...)

[Taita]

For most of us who don't have employees other than ourselves and don't have our own premises, there is no insurance required by law according to Business Link.

In practice, the client/agency will generally require that you have certain insurances in place as a condition of doing business so just get whatever they require. It's also a pointer to being outside IR35.

As I have said, it adds credibility to your trading activities but thank you for the enlightenment. I really believed PL was compulsory although EL is not required until the moment you employ another person, spouse as an employee will trigger it.

[Durbs]

Has anyone actually ever needed to claim on their insurance as a contractor? I've never heard of anyone.

Nope. Never come across anyone who has had to use it.

Realistically, for what PL covers me for and what I do as a contractor, it'd be a bizarre scenario where i'd actually need it.

[tractor]

As a contractor I've never ever had either form of insurance in 15 years. As a retailer I would always have PL.

Has anyone actually ever needed to claim on their insurance as a contractor? I've never heard of anyone.

The first contract that demanded PI from me was in 2005 I think so I had to get a quote and went with Randall Dorling. One of the conditions was that the amount insured was £x plus £y from a 'shared' pot. When I asked how this worked, I also asked how much of that shared pot was 'at risk' right now. Turned out about 20% of a million so you should be careful and always ask those questions at renewal stage. I am quite sure ins co's would continue selling that same insurance even if the at risk was 500% lol

So in short, at least one person must have had a claim!

[Scrag Meister]

As per the thread title, I've only ever had PI cover in all my years as a contractor but for a current gig they insist on Public Liability too.

what does everyone have, either or both?

Both, from QDOS.

[MarillionFan]

As per the thread title, I've only ever had PI cover in all my years as a contractor but for a current gig they insist on Public Liability too.

what does everyone have, either or both?

As a contractor I've never ever had either form of insurance in 15 years. As a retailer I would always have PL.

Has anyone actually ever needed to claim on their insurance as a contractor? I've never heard of anyone.

[Wanderer]

I thought it was a legal requirement for all trading companies to have PLI.

For most of us who don't have employees other than ourselves and don't have our own premises, there is no insurance required by law according to Business Link.

In practice, the client/agency will generally require that you have certain insurances in place as a condition of doing business so just get whatever they require. It's also a pointer to being outside IR35.

[Optimus]

As per the thread title, I've only ever had PI cover in all my years as a contractor but for a current gig they insist on Public Liability too.

what does everyone have, either or both?

PI cover is more expensive of the two in any case and for a few more £s a month, it makes sense to go with PI+PLI. Hiscox do both for me.

[Taita]

No, its not. Probably handy to have but not required.

But it does add a little to the credibility of your company as a trading organisation.

[Durbs]

I thought it was a legal requirement for all trading companies to have PLI.

No, its not. Probably handy to have but not required.

[Durbs]

Seems QDOS do both for around 240 quid it's a bit of a no brainer.

Just phoned my insurers and turned out it was only an extra £4/month to take out PL as well.

Not really a no-brainer though, I've only had PI since 2003 and have never been asked for anything beyond this, its always just PI cover I've needed to supply and that was the recommendation when I started contracting.

Well at least its saved me £4/month for 9 years

I'm with Hiscox and have had to phone them twice today, both times I've instantly got in touch with a pleasant 'real' person and they've sorted me out with no fuss so they get a

[Taita]

Seems QDOS do both for around 240 quid it's a bit of a no brainer.

Agree with northern lad uk.
I thought it was a legal requirement for all trading companies to have PLI.

[northernladuk]

As per the thread title, I've only ever had PI cover in all my years as a contractor but for a current gig they insist on Public Liability too.

what does everyone have, either or both?

Seems QDOS do both for around 240 quid it's a bit of a no brainer.

[Durbs]

As per the thread title, I've only ever had PI cover in all my years as a contractor but for a current gig they insist on Public Liability too.

what does everyone have, either or both?