Insurance Help

Wee-me

Hi,

I am in the process of starting a new business and was looking for some advice with regards to insurance. The business involves selling goods and services on behalf of other businesses and I take my commission from sales, as I've promoted the offer. A bit like some much larger businesses do but slightly different.

I need to be covered in case a business goes under or I need legal representation for some reason. Also, in case something goes wrong from the customer side of things.

If there's anything other type of cover or anyone has any other helpful suggestions, I'd really appreciate it!

patman99

As the absolute minimu. you would need Public Liabilty Insurance, Employers Liability Insurance and (if you have any employees) Employees Liability Insurance.

trailingspouse

Wee-me wrote: »

I need to be covered in case a business goes under or I need legal representation for some reason. Also, in case something goes wrong from the customer side of things.

I'm not too sure what you mean here.

Cover in case a business goes under - is there insurance for this? I've never come across it. You can do credit checks for a fee, which might be worth it if large sums are involved.

Cover if you need legal representation - public/products liability insurance would cover this (depending on why you needed legal representation)

Cover in case something goes wrong from the customer side of things - not really sure what you mean here, but again if large sums are involved and you are offering credit you can credit check them.

The standard insurances are Public/Products/Employers Liability (there's no such thing as Employees Liability) and you will also need to tell your Motor insurers if you are using your car for business. If you are working from home you should also tell your Home insurers (and your landlord if you're renting).

paddyrg

If you mean to insure that a client will pay their invoice, you can do this, but it isn't necessarily terribly cheap. Like 15% of invoice value kind of level.