I’m meeting my bank soon to look into setting up Ltd company and an account etc, so I looked at insurances needed and 'think ’ I need mandatory Employers, even if just me, and possibly public liability .
My question is for those who are ltd- what do you put as company activity for quotes?
Most online are asking how much freight I want to insure for? I’m not after insuring someone’s else’s load. I put transport services as no option for HGV driver. They assume it’s a company with own trucks etc so does anyone have recommendations of a decent insurance I can ring to get a ball park figure before I go see my bank and what did you tell them your company did ?
Terminology I think I’m getting wrong and wondering how to get a correct quote.
Public liability . Employers liability only comes in if you employ someone even if you have a subby working for you. You need employers liability if its just you then its just public liability.
Damage waver insurance depends on the agency you’ve got to work with if your working direct then untill they ask for it don’t bother.
If your setting up a ltd the. Speek to an accountant not the bank.
You want to talk to an insurance broker, we use Trainsure, but i guess you are not setting up a driving school, so look in the magazines that relate to your industry and contact them. There are plenty of bad accountants, so don’t rely on them for good advice, what business are setting up? Traction services?
You will need both employers and public liability cover, as although it is only you working you are still a employee of the limited company which is its own legal entity.
whelmic:
You will need both employers and public liability cover, as although it is only you working you are still a employee of the limited company which is its own legal entity.
alix776:
You don’t actually need anything if its just your self in the company
My accountant advised me that, even though it’s just you, you do need to register as an employer with HMRC. Apart from that, you may want to consider freelance driver insurance, public liability is not a requirement apparently. After all we are just hired to drive their wagons, these haulage companies have wagon insurances, public liability and employers liability policies. I just switched to a LTD with 2 agencies I work with, one being part of a haulage firm, neither wanted to see anything apart from company incorporation certificate.
