Personal Liability Insurance for Contractors

gazhawkins

Does anyone know if Personal Liability Insurance is a legal requirement for Ltd. Co. Contractors?

If it is, does anyone know any good personal liability insurers who offer keen rates?

courtjester

I suspect you mean *Public Liability* insurance and no it's not legally required, although as a contractor you likely work in situations where you could do something which could cause a massive third party loss (like start a fire or cause injury to one or more people), hence it is pretty sensible to take this out.

You are legally obliged to have Employers Liability cover (for injury to staff during their work) if you employ anyone and that could include yourself if you are the only employee of the company.

Your best bet is probably to contact a local insurance broker as your cover cost will depend largely on the type of business activity.

gazhawkins

You're spot on courtjester - that's exactly what I meant.

If anyone knows where the best deals for public liability insurance are, I'd be please to hear about it.

ccqueen

Hi,

You need to call a local broker for a quote and it will depend upon the trade you do.

Companies like Axa and Norwich Union do contractors cover for small businesses and these can be obtained over the phone as most brokers have access to an online quote facility. (i am a sales rep for an insurance brokers)

Good Luck and if you have problems PM me and i will give you a number for either someone in my company or a friends company.

maclean2

https://www.portwood.co.uk
will quote on line for many trades.

shays_mum

Have used insuredrisks.co.uk in the past, no probs. I just play one agent off against another, have got my friends insurance dropped from £920 to £850, that's just one agent, am still hunting.
One tip, make sure you renew on the day the insurance expires, so you get the great rates for NEW insurance & not the crappy renewal rates that all the agents will try & fob off on you.
HTH, goodluck

gazhawkins

Thanks Shay's Mum... 900 quid for personal liability insurance?

We're not talking every branch of HSBC here - just little old me!

Jeez - I've nearly fallen off my chair.

Can't be THAT much, surely?

shays_mum

gazhawkins wrote: »

Thanks Shay's Mum... 900 quid for personal liability insurance?

We're not talking every branch of HSBC here - just little old me!

Jeez - I've nearly fallen off my chair.

Can't be THAT much, surely?

You better believe it, my mates in a high risk category, he installs lifts, hence the high price! That's why i have no qualms playing one agent off against another Goodluck x

dcispv

installing lifts is sooo risky, a friend of a friend used a lift at his work every day and one day pressed the button for the lift to come, stepped in to the lift and the lift wasnt there and he fell down a lift shaft! he got paid out millions and that would have been all on someone's liability insurance I'm sure.

mattymoo

What trade are you in Gaz? Also what part of the country.

re the legality of PL cover. It is not a legal requirement but insurers and risk managers do encourage their clients (businesses, property owners, local authorities etc) to manage their contractors. As part of this process they are asked to submit risk assessments, method statements and evidence of PL insurance. If you want to work in that sector your going to need the cover.

I work for a Lloyd's syndicate that specialises in high risk contractors cover. Not touting for business but I might be able to point you in the right direction.


dcispv - claim would have gone against the building occupier / owner or lift maintenance contractor. Doubt it was millions though unless your friend was left completely paralysed as a result.

dacouch

Matty...Holy thread revival!