Monday in a week I am starting off with my Limited Company at a new agency. They’ve send me T&C’s in which it says contractor has to have Employers Liability Insurance, Public Liability Insurance and professional indemnity Insurance as well as all other relevant Insurances, and provide proof on request.
Is this reasonable and do I need to take out those Insurances?
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I would suggest that regardless of the legal requirement, if you DONT have it you could potentially be wide open to a claim against you.
How much is the cover out of interest?
eagerbeaver:
I would suggest that regardless of the legal requirement, if you DONT have it you could potentially be wide open to a claim against you.How much is the cover out of interest?
I don’t know yet, will let you know when I do. But will I need all three, and are there any others I should consider? What are the differences cause it all sounds the same to me
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Monday in a week I am starting off with my Limited Company at a new agency. They’ve send me T&C’s in which it says contractor has to have Employers Liability Insurance, Public Liability Insurance and professional indemnity Insurance as well as all other relevant Insurances, and provide proof on request.
I have been working as a bus driver using a my own limited company, and taking work from mainly agency’s but also some work directly with companies. The most insurance which I have been asked for it Public Liability Insurance, but I was say that unless you are going to employee someone. Then in terms of professional indemnity insurance I personally haven’t take it, but can see the benefits of taking it out.
Different incidents are often covered by different policies. For example; you are delivering on the street, and one of your back doors swings open in the wind and hits a passer by. Without public liability you are in trouble.
Other potential examples could be damaging a clients smoke shelter whilst reversing, or a shot load of alcohol (very expensive). A quick Google search will give you the ’ basic differences ’ in insurance types, but as with ALL types of insurance-private and commercial, it is IMPERATIVE that you fully understand the clauses and t&c’s.
I would say for definite you don’t not need any of the insurances they are asking you to get they are trying to make you take the risk is this for an agency by any chance.
The simple phrase is I’ve no o license I cant insure a truck. Don’t be take. In by a £1-2 increase in the hourly rate
eagerbeaver:
Different incidents are often covered by different policies. For example; you are delivering on the street, and one of your back doors swings open in the wind and hits a passer by. Without public liability you are in trouble.Other potential examples could be damaging a clients smoke shelter whilst reversing, or a shot load of alcohol (very expensive). A quick Google search will give you the ’ basic differences ’ in insurance types, but as with ALL types of insurance-private and commercial, it is IMPERATIVE that you fully understand the clauses and t&c’s.
Sorry wrong even se or ltd you are covered by the company you are engaged by the agency is trying to make you take there risk. Public liability would be an idea but isn’t essential
Thank you all for your comments. Google says as Ltd you HAVE to take out Employers Liability Insurance, my Ltd only employs me though…to me it does makes sense to have public liability insurance as you all point out. Confusing.
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No you don’t you only need employers liability if you employ someone other than your self is the wife to do the books banking etc
I have just found out as I am a HIAB driver I need specialist public liability insurance which is going to be expensive. Great. [DISAPPOINTED BUT RELIEVED FACE]
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Was that from a specialist insurance agent.
No. I can’t find one so far [PENSIVE FACE]
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Yoni:
Thank you all for your comments. Google says as Ltd you HAVE to take out Employers Liability Insurance, my Ltd only employs me though…to me it does makes sense to have public liability insurance as you all point out. Confusing.Sent from my D5803 using Tapatalk
I don’t think you need Employers’ Liability insurance, and it would be redundant anyway - if you were to make a claim, you would have to prove the company was negligent - and that would be yourself, so it’d be deemed as your own fault.
Yoni:
No. I can’t find one so far [PENSIVE FACE]
Not to sure if I am allowed to drop company names in, but I have used A-Plan and they managed to sort out public liability insurance for me to drive buses and recently added class 2 onto it, and all seems reasonable priced to me. Although I am not covered if I go airside at airports or going to power stations.
if anyone wants me to edit this to remove the company names let me know
eagerbeaver:
I would suggest that regardless of the legal requirement, if you DONT have it you could potentially be wide open to a claim against you.How much is the cover out of interest?
Got a quote today, esspecialy for HIAB, £536.60 a year, cover for 1 million. That’s £53.20 for 10 months.
I haven’t found any other brokers who were willing to give me a quote.
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Christ on a bike!! That isn’t cheap.
Update: they took the quote down to £168 a yr. Happy days!
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