does this quote seem all right?

[shanky887614]

Cover Details

Public Liability limit of indemnity: £5,000,000
Main Trade: Electrical contractor (All Property Types)
Years Experience: 3 years or more
When did you last claim: Never claimed
Additional trade: Not Required
Solar Panel Work: No
Cover Start Date: 05/11/2015
Business Type and Manual Workers

Company Name: electrical
Company Location: England
Business Type: Sole Trader
Employees: 0
Trainees: 0
Clerical Staff: 0
OPTIONAL EXTENSIONS

Tools Cover: £2,000
Jury Service: Yes
Personal Accident Cover

Full name: Mr andrew
Date of birth: 06/07/1993
- Personal Accident Cover: Yes
- Declared illness or disability history: No
ABOUT YOUR BUSINESS

Business

Line1: cessna Court
Line2:
Postal Town:
County: Leicestershire
Postcode:
Staff and Financial Questions

Employ Bona Fide sub contractors: No
Promo Code:
DECLARATIONS

Eligibility Statements: I confirm that all of the statements are TRUE
COVER AND PREMIUMS

Insurer: Zurich
Insurance Cover: Tradesman Liability Insurance
Public Liability Cover: £5,000,000
Professional Indemnity Cover: £50,000
Property Damage Excess: £250.00
Public Liability Premium: £163.64
Optional Extension Excesses: Policy excesses as per standard policy
Tools Cover Premium: £71.81
Number of people with Tools Cover: 1
Jury Service Cover Premium: £12.01
No Claims Discount: £24.75
Insurance Premium: £222.71
Insurance Premium Tax: £21.16
Standard Arrangement Fee: £15.00
Total Annual Premium: £258.86
Monthly Premium Including Credit Fee: £23.30
APR: Representative 15.4% APR variable
Charge For Credit: £20.71
Total Amount Payable: £279.57
Endorsements That Apply To This Policy

 

[Marvo]

Did you put this in the Arms for privacy purposes or can I relocate it to the Insurance Forum?

Tools Cover: £2,000, Tools Cover Premium: £71.81.

Tool cover is extortionate, in well under two years of premiums you'll have paid more than the claim limit and that's not factoring in any excess on a claim.

 

[shanky887614]

yeah you can put it in insurance forum, i was half asleep at the time and wasnt sure if id scrubbed all my details.


yeah it seemed expensive to me to be honest.

when i was looking most of them wanted you to ring them to get a quote

 

[Darkwood]

Mine is several hundred but I have declared working on 3ph and also machinery control which tends to triple things, many companies forget to declare 3ph work and this can void the insurance policy if the claim is relative to 3ph work. I'd be really happy with a quote as low as that, although I'm not sure what the going rate is for 1ph work.

 

[Octopus]

Did you put this in the Arms for privacy purposes or can I relocate it to the Insurance Forum?

Tools Cover: £2,000, Tools Cover Premium: £71.81.

Tool cover is extortionate, in well under two years of premiums you'll have paid more than the claim limit and that's not factoring in any excess on a claim.

How do you work that out?

I ready the policy as being £71.81 per YEAR for tools cover!

 

[telectrix]

i pay £22/month for the same cover with the exception that i've 2m PL. ( 3 phase is inc.), witrh simply business. so i'ts comparable.

 

[shanky887614]

How do you work that out?

I ready the policy as being £71.81 per YEAR for tools cover!

yeah £70 a year to cover 2k tools

the policy covers tpn supplies

£20 a month for everything doesnt seem too bad

 

[gnselectricals]

Seems pretty good to me although I had 4K tools/materials/stock cover with van ins for £70 and cancelled that as it's nowhere near enough. Prob got 4K of hand tools lol.
Sorry to hijack but anyone know a decent insurer for tools etc looking around 8-10k cover

 

[Marvo]

How do you work that out?

I ready the policy as being £71.81 per YEAR for tools cover!

Ahh, I misread it, thought the premium was a monthly figure.

 

[andyb]

Mine is several hundred but I have declared working on 3ph and also machinery control which tends to triple things,

It shouldn't triple it Dave, I think the cost should increase by

 

[shanky887614]

got a quote from simply £900

 

[Darkwood]

It shouldn't triple it Dave, I think the cost should increase by

Who's dave? :speechless:

 

[Andy78]

I'm with simply business and my £2M PL including TP+N work comes to £80 a year. PI adds about £120 to this. I don't have tool cover. That's underwritten by Zurich.

 

[shanky887614]

I'm with simply business and my £2M PL including TP+N work comes to £80 a year. PI adds about £120 to this. I don't have tool cover. That's underwritten by Zurich.

im going to speak to them again cause my quote from simply is 800 a year lol

 

[Andy78]

im going to speak to them again cause my quote from simply is 800 a year lol

was that an online or phone quote ?

 

[shanky887614]

was that an online or phone quote ?

phone XD

 

[Andy78]

phone XD

Blimey, something's been misunderstood by the phone monkey then I reckon.

 

[andyb]

Who's dave? :speechless:

Sorry about that Darkwood.:iamwithstupid:

Can you pass it on to Dave when you see him.

 

[shanky887614]

Blimey, something's been misunderstood by the phone monkey then I reckon.

ill ring them again

 

[Andy78]

ill ring them again

Hang on a minute, I'm getting a recollection from a couple years back on the phone with simply business. They gave me a massive quote too. Turned out that when I asked for three phase work to be included they put me down for HV.

 

[shanky887614]

Hang on a minute, I'm getting a recollection from a couple years back on the phone with simply business. They gave me a massive quote too. Turned out that when I asked for three phase work to be included they put me down for HV.

thanks ill check with them

 

[Hellmooth]

I got a quote a couple of years back from simply business, £220 for £5 million PL, didn't seem too bad, but was looking at getting work through a company doing commercial work and needed £10 million, was an extra £600! Numb nuts here paid it and the work never materialised with said company, it was through someone I knew who worked for the company, they assured me it would happen.........safe to say they aren't on my Xmas card list anymore!

 

[shanky887614]

I got a quote a couple of years back from simply business, £220 for £5 million PL, didn't seem too bad, but was looking at getting work through a company doing commercial work and needed £10 million, was an extra £600! Numb nuts here paid it and the work never materialised with said company, it was through someone I knew who worked for the company, they assured me it would happen.........safe to say they aren't on my Xmas card list anymore!

? nic quote was a lot cheaper than simply

 

[Hellmooth]

I have mine through simply underwritten I'm sure by Zurich, it's £16 a month but doesn't include 3ph or tool cover

 

[Octopus]

Last December mine was £192.47

PL £2m
PI £500K
no tools

The trading activities have been authorised by out underwriting team.

• Commercial and Domestic Electrician and Portable Appliance Tester including 3 phase work

The Insurer was Maltings via Simply Business.

 

[NDG Elecs]

I am through NAPIT insurance. I think anybody can use them though.

I have
PL £2m, PI £500K and something like 6K tool and parts cover. I also do around 20% joinery work which is covered. I think it's around £28 per month.

 

[shanky887614]

I am through NAPIT insurance. I think anybody can use them though.

I have
PL £2m, PI £500K and something like 6K tool and parts cover. I also do around 20% joinery work which is covered. I think it's around £28 per month.

thats more like it ^^ ill have a look on there site tonight and probably chat to them tomorrow

 

[Octopus]

What really pxsses me off about this expense is that mine is still way below scam membership - at least the insurers would payout in the event of a claim - but what would a scam do.....

 

[NDG Elecs]

thats more like it ^^ ill have a look on there site tonight and probably chat to them tomorrow

Just looking through your OP. My policy allows certain subbys also, with caveats aplenty!
They were very thorough on the phone and took 30 mins of questions and explanations to set up.

I thought it was a fair enough price, as I have heard of separate PI policies costing £2-300 themselves.

 

[shanky887614]

Just looking through your OP. My policy allows certain subbys also, with caveats aplenty!
They were very thorough on the phone and took 30 mins of questions and explanations to set up.

I thought it was a fair enough price, as I have heard of separate PI policies costing £2-300 themselves.

ill be honest the massive quote i had was insane

 

[NDG Elecs]

ill be honest the massive quote i had was insane

If I get a chance I will try n find my policy to see what's what on it for you. Would do it now but going out to work again...bloody offices...

 

[shanky887614]

If I get a chance I will try n find my policy to see what's what on it for you. Would do it now but going out to work again...bloody offices...

not good, ill be honest im a lot happier now im back working again ^^ it gets depressing sitting at home for a month

 

[Guest77]

Cover Details

Public Liability limit of indemnity: £5,000,000
Main Trade: Electrical contractor (All Property Types)
Years Experience: 3 years or more
When did you last claim: Never claimed
Additional trade: Not Required
Solar Panel Work: No
Cover Start Date: 05/11/2015
Business Type and Manual Workers

Company Name: electrical
Company Location: England
Business Type: Sole Trader
Employees: 0
Trainees: 0
Clerical Staff: 0
OPTIONAL EXTENSIONS

Tools Cover: £2,000
Jury Service: Yes
Personal Accident Cover

Full name: Mr andrew
Date of birth: 06/07/1993
- Personal Accident Cover: Yes
- Declared illness or disability history: No
ABOUT YOUR BUSINESS

Business

Line1: cessna Court
Line2:
Postal Town:
County: Leicestershire
Postcode:
Staff and Financial Questions

Employ Bona Fide sub contractors: No
Promo Code:
DECLARATIONS

Eligibility Statements: I confirm that all of the statements are TRUE
COVER AND PREMIUMS

Insurer: Zurich
Insurance Cover: Tradesman Liability Insurance
Public Liability Cover: £5,000,000
Professional Indemnity Cover: £50,000
Property Damage Excess: £250.00
Public Liability Premium: £163.64
Optional Extension Excesses: Policy excesses as per standard policy
Tools Cover Premium: £71.81
Number of people with Tools Cover: 1
Jury Service Cover Premium: £12.01
No Claims Discount: £24.75
Insurance Premium: £222.71
Insurance Premium Tax: £21.16
Standard Arrangement Fee: £15.00
Total Annual Premium: £258.86
Monthly Premium Including Credit Fee: £23.30
APR: Representative 15.4% APR variable
Charge For Credit: £20.71
Total Amount Payable: £279.57
Endorsements That Apply To This Policy

Hi-Fella, IMO a 5,000.000 liability for under 300 notes is good value my friend, it looks fine to me mate.

 

[Leesparkykent]

not good, ill be honest im a lot happier now im back working again ^^ it gets depressing sitting at home for a month

Happy days...what you doing now for work then Shanky?

 

[shanky887614]

Happy days...what you doing now for work then Shanky?

shop fitting for brightspark69.

he hasnt posted much on here but seems sound

 

[Leesparkykent]

shop fitting for brightspark69.

he hasnt posted much on here but seems sound

Thats good then mate. I like shop fitting...enjoy the pace of the job.

 

[shanky887614]

Thats good then mate. I like shop fitting...enjoy the pace of the job.

the fitters are behind atm, so happy days ill have got all my wires in before they start studding at this rate.

 

[Guest77]

the fitters are behind atm, so happy days ill have got all my wires in before they start studding at this rate.

You mean cables or cabling?

 

[7029 dave]

I'm with simply business and my £2M PL including TP+N work comes to £80 a year. PI adds about £120 to this. I don't have tool cover. That's underwritten by Zurich.

That sounds bloody good Andy.

 

[Guest77]

That sounds bloody good Andy.

2m is cheap, once you get into the 5 mil level the price escalates.