Hello

[CrazySi]

Hi everyone

So I've written my cv, given in my notice last week and am preparing to go contracting.

I think I'm suited to contracting due to my personality, I just get so fed up of jobs after a few months so it will be nice to chop and change regularly, as well as work for myself (no more bi quarterly progress reviews arggg).

Any advice on what insurance to take out, like if I get fired really early into a contract?

Cheers
Si

[cojak]

Welcome to CUK CrazySi!

Take a look at the First Timer's guides on the right, there's information on insurance over there.

[DaveB]

Hi everyone

So I've written my cv, given in my notice last week and am preparing to go contracting.

I think I'm suited to contracting due to my personality, I just get so fed up of jobs after a few months so it will be nice to chop and change regularly, as well as work for myself (no more bi quarterly progress reviews arggg).

Any advice on what insurance to take out, like if I get fired really early into a contract?

Cheers
Si

You will need Professional Indemnity Insurance and Employers Liability Insurance, it is a good idea to get insurance for IR35.

What you wont get is insurance against being 'fired'. You are an employee of your Ltd, if the client lets you go, you are still employed. You wont find anyone to give you that sort of insurance.

[churchy80]

Hi everyone

So I've written my cv, given in my notice last week and am preparing to go contracting.

I think I'm suited to contracting due to my personality, I just get so fed up of jobs after a few months so it will be nice to chop and change regularly, as well as work for myself (no more bi quarterly progress reviews arggg).

Any advice on what insurance to take out, like if I get fired really early into a contract?

Cheers
Si

As I'm about to do the same thing would it be a good idea to go with an umbrella company first before going limited?

[northernladuk]

I think I'm suited to contracting due to my personality, I just get so fed up of jobs after a few months

Just a word of caution here. Contracting doesn't quite meet that criteria. The option of getting fed up after a few months is a benefit of permie land.

When contracting you don't want to be swapping contracts every 3 months as you will spend more time on the bench than working, if you get a 6 month or more you are still going to get fed up and you do not have the luxury of being that contracting because they can finish you in the bat of an eyelid if you are not towing the line. You will also incurr the wrath of the permies making it even more difficult.

I would argue you have to work harder and put up with a lot more crap contracting. Some contracts can be in horrible places, you get made the scapegoat, everything is your fault. You could be lucky and breeze it but it is no place for the lazy and weak. You need to grow some big shoulders at times.

[northernladuk]

As I'm about to do the same thing would it be a good idea to go with an umbrella company first before going limited?

As was mentioned by Cojak. Read the guides and also search the forum/stickes.

[MarillionFan]

As was mentioned by Cojak. Read the guides and also search the forum/stickes.

Welcome to the forum and now you've met NorthernLad. You have been warned. YouTube - ‪Random crap fighting‬‏

[Wanderer]

Any advice on what insurance to take out, like if I get fired really early into a contract?

No insurance company is going to insure you for that so contractors "self insure" by building up what we call a "war chest". You always have to maintain enough savings in the bank to cover you for 6 months of time off for holidays, sickness, pregnancy, unemployment, training etc.

Have you got 6 months worth of living costs in the bank as a war chest? If not then don't go contracting, simple as that.

Sorry to sound a bit harsh but it's a tough business and we don't want noobies coming on here crying because they got the sack with no redundancy pay. Make sure you know what you are getting yourself in for. No one will care a tulip about you when you are a contractor, you have to stand on your own.

[CrazySi]

Well its a bit late now if I haven't done the right thing as I'm already seeing out my notice.
Maybe I'm not cut out for it who knows, its something I've always wanted to try I'll regret it if I don't try. And yep I've got a warchest maybe 6 months.

I do think the biggest shock to the system will be that I will have to possibly actually get on with work in the morning rather than my 2 hour wake up period, cup of tea, surf, chat and so on.

I'll possibly go with an umbrella for the first contract see where its at then go Ltd after that. Does umbrella usually have these insurances as part of the bundle? Are there any umbrellas you would recommend, I'd prefer giving my money to a smaller non corporate one if such an umbrella exists.