PI insurance recommendation required
Discussion
we don't do car and home if we can help it, we are pretty much all commercial
www.commercialpropertyinsurance.co.uk
www.lockyers.co.uk
i'm out and about tomorrow but if you email me before 11am I can get one of my team onto it.....with ph rates of course.
www.commercialpropertyinsurance.co.uk
www.lockyers.co.uk
i'm out and about tomorrow but if you email me before 11am I can get one of my team onto it.....with ph rates of course.
I'm from your neck of the woods originally and remember my dad insuring his cars via lockyers.shirt said:
can anyone recommend a decent policy?
first time contractor (ltd. co. being incorporated tomorrow) so i've no idea what level of cover I require and what constitutes a good policy.
there's just me to cover and I'd like to keep it below £150/yr if possible.
Surely the level of cover is what is in your contract. It's the first thing I always check, and then usually tell the client that unless they reduce it to 100k then my rates are going to go up. I've never had a client not agree to this yet.first time contractor (ltd. co. being incorporated tomorrow) so i've no idea what level of cover I require and what constitutes a good policy.
there's just me to cover and I'd like to keep it below £150/yr if possible.
I'd also recommend looking at (and maybe joining) the Professional Contractors Group - lots of good advice and recommendations on there.
spikeyhead said:
shirt said:
can anyone recommend a decent policy?
first time contractor (ltd. co. being incorporated tomorrow) so i've no idea what level of cover I require and what constitutes a good policy.
there's just me to cover and I'd like to keep it below £150/yr if possible.
Surely the level of cover is what is in your contract. It's the first thing I always check, and then usually tell the client that unless they reduce it to 100k then my rates are going to go up. I've never had a client not agree to this yet.first time contractor (ltd. co. being incorporated tomorrow) so i've no idea what level of cover I require and what constitutes a good policy.
there's just me to cover and I'd like to keep it below £150/yr if possible.
ewenm said:
I'd also recommend looking at (and maybe joining) the Professional Contractors Group - lots of good advice and recommendations on there.
One of the PCG recommended brokers (if that's the right phrase) is Randell Dorling, who have very reasonable rates for PI cover, which is currently underwritten by RSA. I believe that Caunce O'Hara have a similar arrangement. Either one of these brokers should be able to give you guidance on what you should expect to pay.As far as a limit of indemnity is concerned, there are 3 factors:
1) What is your income?
2) What is the total contract value of the project you're involved in?
3) What are you being asked to carry by your client (hopefully this is negotiable!)
I have used Caunce O'Hara in the past and use Hiscox now. There are more requirements than just PI insurance if you set up a limited company, for example you need 3rd party cover as well. I go for a full 'suite' from Hiscox, covers me for the 3rd party (general liability up to £1 million), Employers liability up to £5 million, PI up to £1 million, commercial legal protection (up to £100K) and office contents cover for things like PCs, laptops etc. including away from location. All in it costs me just under £600/year.
If you put yourself on the payroll (even if nobody else) then you will probably still need employers liability as you are also an employee (as well as a director).
Hope this helps.
If you put yourself on the payroll (even if nobody else) then you will probably still need employers liability as you are also an employee (as well as a director).
Hope this helps.
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