PL insurance starting out

[scottythepinetree]

This may have been asked before but my search keeps bringing up loads of irrelevant threads. About to make the big leap and go out on my own (well in partnership with a guy I've worked with for years which should save in employers liability). Have enquired with a couple of insurance companies about cover. Might seem a simple enough question but has me stumped. What do you put down for turnover on the question form if you are just starting out and don't have a turnover to speak of as yet? Do you estimate a projected turnover?

 

Will be freehold when we start out so haven't been overly concerned with turnover up until now. Any thought?

 

Also any other advice for someone starting up would be greatly appreciated. Have been in this industry nearly 10 years so know how to price jobs, deal with customers, and of course actually do the jobs. Basically, have spent the last 10 years working for other people exactly as though I were working for myself but anything you can think of that may have caught you unawares when starting out from a business perspective is the kind of wisdom I'm after.

[Rupe]

Yes, just estimate it for your first year. Don't worry about accuracy. They have bands like 30-50K 50-80K 80-100K or whatever so just guess and whatever band you end up in will be the mark they use for now.

 

It will be adjusted in the second year, so if you underestimate you will get charged a bit more next year when they get the actual figures and vice versa.

 

The main thing is not to put down too much for climbing. If you estimate trunover of 75K per year doing tree work, don't go and put 75K a year down as climbing!!

 

If one of you is on the ground that 50% climbing. The climber helps clear up at the end of the day so that 40% climbing. Plus any work you do at ground level, usually lots more than you think bring the actual time climbing down to maybe 25% or turnover??

 

Try and keep a record throughout the year of what each job consisted of, climbing, ground work etc so that next year you can give them more accurate figures.

 

Don't give it too much concern.

[scottythepinetree]

Cheers for that. Helps no end. Wasn't sure what to expect from the insurers when I enquired, some of them go into massive detail. Nice to know how they break it down with regard to the turnover bracket. Thought there would be a simple answer.

[Highland Forestry]

Give Cameron a ring at Trust Insurance - 01604 492644

He should be able to help you out if you explain the situation to him.