Start up help needed - business insurance

[Poppy1]

Hello,

 

I was hoping someone would be able to point me in the right direction, my partner has been working for someone for 4 years now and has all the relevant qualifications and tickets. He is hoping to try and do a bit of work for himself which he can hopefully build up into a business when he has enough custom, but he isn't very good at the business/paperwork side....... Which means I have to sort it out, I have no knowledge of business, and don't really know where to start. I have seen an accountant who has helped with some aspects but my main question is.....

 

What kind of insurance do we need? What should it cover? Does it need to be specific? And is there a certain company to go with?

 

I have looked at specialist insurance, small business insurance and also public liability, but I don't want to get the wrong one and end up in trouble/with a big bill, it all just seems a bit confusing and I want to make sure we have the right type of cover, I assume he will just be doing small jobs as it will only be him.

Any help is appreciated thank you!!

[Mick Dempsey]

You'll need public liability insurance to cover any breakages of clients property.

 

For a start that is all you will really need.

 

Arborisk on the right of your screen are insurance brokers for this sort of thing.

Edited September 10, 2016 by Mick Dempsey

[treequip]

You'll need public liability insurance to cover any breakages of clients property.

 

For a start that is all you will really need.

 

Arborisk on the right of your screen are insurance brokers for this sort of thing.

 

Beg to differ

 

Public liability is a need but since its hard to do any sort of work without some kind of help, employers liability is a must have.

[Mick Dempsey]

You may well be right, dépends on how he wants to move forward.

[treequip]

You may well be right, dépends on how he wants to move forward.

 

Well by giving the task of sorting the insurance to another he has already become an employer and the whole ELCI thing opens an eye and starts looking around.

 

Anyone who helps you is counted as an employee, paid or not.

 

The "C" in ELCI is for compulsory, I am no lover of such things but insurance is something its better to have and not need than need and not have.

[Poppy1]

Okay so mainly just liability and employers liability. Thank you I will have a look at those.

[leswold]

Poppy, at recent PL/EL insurance renewal time I was told by our broker that as we didn't use 'outside' staff, only immediate family members, we didn't need EL. Apparently there is a specific exemption for this.

PL (inc theft) advisable but I wouldn't be without it. Handy to be able to show potential customers & our commercial clients rightly insist on it.