Insurance Renewal Time

[10 Bears]

As usual, I've put this off too long. My renewal is next week and I have to decide who to go with for insurance. I am currently with Lycetts on £5M PL and £1M PI and to be honest, I have experienced good terms and good rates from them over the years.

 

I know some new companies have started up in the meantime (or probably not so new now) - for example, Arborisk and Tree Surgeon Insurance. Looking through other threads, lots of you rate their services. I have asked for quotes from both.

 

Here is the issue though, my work must be 90-95% consultancy, and 5-10% manual (don't tell me that adds up to 105% - I'm trying to suggest it fluctuates year on year!), so perhaps I am not best insured by companies that are predominantly focussed on the manual side of the industry?

 

So can anyone recommend other insurers, that in your opinion/experience are worth contacting for a quote?

[aspenarb]

As the premium for arb insurance is based on turnover and the number of employees would it not pay to have just a professional indemnity insurance running for the consultancy and a separate one for the arb work?

 

Bob

[10 Bears]

Hello Bob,

 

Yes, I do currently have the two separate policies in place and they are both related to proportional turnover for each category of work. Interestingly, but perhaps not surprisingly, the PL premium is considerably more then the PI, despite the fact that the PI related work is the significant majority of my turnover.

 

I've since had a few other quotes come in over the weekend/Monday morning and TBH, I cannot see any real benefit in moving away from Lycetts. In particular the newer companies I've tried (named above) were more expensive on both types of insurance then Lycetts, by the order of a few hundred pounds each. Perhpas its better the devil you know in this case.

 

Looks like I'm staying with Lycetts unless a fantastic new quote comes in from somewhere else...

 

Best regards.