Small Business Insurance Discussion Area

grintricha

Hi, I'm considering a business idea which uses a slightly different business model to any company I know about.

The insurance comanies I have spoken to have been unable to offer me a policy and have recommended I speak to a specialist broker, any thoughts on who I could speak to

To further complicate matters I am considering a couple of different premises options.

thanks
Richard

mrs_marty

Hi Ive been advised I need to get product and public liability insurance for my cupcake business, any ideas where I begin?

Savvy_Sue

Generally, with a broker. However, for this one I'm pretty sure there are a few cup cake bakers over on the Up Your Income board if you took a look there and maybe asked who they insure with if they don't say?

zackary71

Sounds crazy to say i know but no sure what insurance,if any i'd need.
Basically, homeworking running ecommerce business. No stock is held as all purchases are made to order via a 3rd party supplier. If there is a quality fault, the supplier is liable and deals with it under their returns policy.
The only thing I think may be relevant is Computer Failure Insurance cover.
All opinions gratefully received.

6775HIL

Tightwadways wrote: »

Does anyone know of any insurers for public and liability insurance who allow you to pay by installments?

Thanks.

Hi,

I took out a Public Liability policy a couple of months ago and now need to cancel. I was originally quoted an additional 1500 quid for the facility to pay by instalments, which I had no choice but to accept as I didn't have a lump sum to pay for the cover. A finance company paid the full premium to the insurance company and I now have a loan that I must pay for the next 9 months - £402/mth and I can no longer afford this.

The small print in my policy states it 'Minimum and Deposit', based on annual turnover and if cancelled there is no return of premiums paid.

Can anyone tell me if they have been in a similar situation as this? I want the insurance company to send a rebate to the finance company so that I can terminate my agreement with them without them sending out a debt collector!

Thanks

paddyrg

Recommendation - Hiscox business insurance http://www.hiscox.co.uk/business-insurance/

I just got my liability insurances through them, for half the price of my previous insurer. No premium for monthly payments. Spent 30' on the phone with a UK-based advisor who wanted to make sure I wasn't OVER-insured. Same price on the phone or online. They're also known for paying out reliably. When your insurance comes up next, give them a try, seriously.

Harryo

novak99 wrote: »

If you will form an company or LLC you will not be personally liable for potential claims.

That is not correct. Director, employees or self employed persons are all personally responsible for such matters as health and safety. Also a director could personally be taken to task if matters are mis-managed such as if Public Liability Insurance was not in place, when it was Legally required.

ticklepenny_2

Do I need to be VAT registered to take out Public liability Insurance? A friend mentioned I would need to be but I dont see my turn over being anything over £10k so way under the VAT guideline. Basically I am getting a bit confused and overwhelmed. Any help is gratefully received.
x

Harryo

No need to be VAT Registered.

I use to have a separate Public Liability Insurance but I found a couple of years ago that it was much cheaper to take out a Business From Home Policy with the company which has a red phone on wheels. This covers me for ""office"" contents at home, Public Liability, Product Liability, money in transit, personal accident, assault, business legal expenses and various other things all thrown in. Have a look on their web site. I pay about £130 all in and I think that covers me for £10mill PLI. Harry

debtfreebyxmas

would anybody know roughly what to expect to pay in insurance and what type of insurance would I need to become a sole trader proving gas safe plumbing services? kind regards. Any input appreciated. commercial and domestic work would be undertaken