So what's reasonable? What do you guys pay? For public liability to £5m, a bit of personal accident cover, tools and equipment to £10k? I have a real problem with this at the moment. Any comparisons from other one man one van traders would be welcome.
Bill
What do you do?
Have you tried
TV aerials, etc.
Bill
I'll be contacting them.
Bill
£2m PL around £100. I've got Indemnity too, which adds around £75. Never bothered with tool/materials insurance as it is rare to have stuff stolen, and Festool replace anyway for £100 if it is stolen. Most of my other kit is worth £100-200 a piece new, if it does disappear, then I'll just go on ebay for another. I'd be stuffed if the van was stolen with everything in (well actually, not so bad now, as I only keep a small amount of stuff with me at all times, other bits get taken out of the house as needed.
Clambering on rooves - dangerous insurance territory
I use Just Insurance, I'm not exactly what you'd call a tradesman, but you might find them useful
I have their small business insurance
No van, and more desk based, but about 130+IPT for PI (£250K), then £270 for £10m Employer liability, £2m Public / Product liability and a few other bits like £15K for office kit kept at home.
IAll I know is that a major factor in deciding to retire completely was that PL insurance was doubling in cost year on year, plus the ridiculous (for me) requirement that the insurance documentation should be kept for (was it?) 90 years.
Thanks to all (helpful) relies so far. This is very interesting.
Bill
Even even exactly the same one ;-) (as happened recently to my boss and his stolen camera).
Yup, I have a friend who got forced out of his business by the insurance costs. He ran a small pile driving business (small business and small augured piles!). They used to do specialist jobs like piles for underpinning existing properties etc, where there piling rig was small enough to drive through a front door. When they started, the insurance was a couple of k per year and carried on that was for about 4 or 5 years. Then the next year they were asking 19k, 45k the year after, then finally 90k (they never had a claim). Got to the point where they would be working half the year for the insurers and half for the tax man.
HomeOwnersHub website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.