Public liability insurance? Do I need it?

[Teddy Lop]

Mine was £333 through the nic for 5m PL plus 300k PI and 5k tools.

Interesting how the indemnity element used to be 100k as standard which I always felt in my guts was too low given some of the atrocious workmanship you have to tackle on a daily basis, but I had to fight them to increase it, but now that all the slum-lords have been forced to get inspected they've jumped it to 300k!

Everthings jumped in price recently in my experience, but as the saying goes its cheap compared to the cost of not having it..

 

[Risteard]

Mine really jumped this year. For £5m/€6.5m public liability and £250k (or Euro equivalent) professional indemnity and with legal expenses cover was around £1,200 this year. This includes the RECI Extension which includes the territorial extension for the south of Ireland plus specific indemnities to RECI, the ESB and the CRU and all of RECI's other requirements (e.g. no height limits on policy). But most insurers won't even quote for this.

 

[TroyatRhino]

Hi guys, it's Troy here from Rhino Trade Insurance - Happy to offer preferencial rates on your Liability & Business Insurance. Feel free to email me directly on [email protected] and I'll do everything I can to beat your renewal quotes.

 

[i=p/u]

Depends how you awnser questions, single phase, 3phase, fire alarms, giving out advice, many years you been a spark, crazy when they talk you through it in 3 mins...

300 for 6.5 million plus 100,000 indemnity. North and south ireland.

 

[banny07]

Mines around £200 for £10 million + £300k indemnity.

who with? if you don't mind.

 

[Risteard]

who with? if you don't mind.

That was with NICEIC Insurance Services. However now I'm insured through Camberford Law - around £1,200 for £5m/€6.5m with Legal Cover and Indemnity also.

 

[diamon]

Hello lads. I’m just wondering if I need Public liability insurance if I’m subbing to companies or working for agencies? I’m getting some stupid quotes. Don’t really know what I need to include.

thanks

Which policy you have bought then? i am also looking for some insurance recommendation, few people recommended me to get general liability insurance, so I am confused right now

 

[LukeD]

HISCOX has always been the best for me

 

[banny07]

I just paid `74 for 200k. PL. to simply business insurance, paid 89 for 250k personal indemnity to octopus.

 

[Dustydazzler]

Thought the cps domestic scams req £2 million PL ?

 

[banny07]

yes

 

[LukeD]

I always have used Hiscox as i feel they are big enough to be there when needed . I would never be claiming for tools etc .Just a case of 3rd party to pass on if required and let the insurance company deal with legalities (I have legal cover also )

 

[Simon47]

Having only done DIY for decades, a few years ago I got PL&PI insurance to be able to sort out the electrics at church. My last renewal was £225 inc extra taxes etc. That's to cover electrical work (not restricted in type of property), T&I (invokes the risk of PI liability), and "general handyman" which I got added for no extra. IIRC it could have been somewhat cheaper without T&I, or with electrical work restricted to specific premises (either domestic or domestic and commercial).
Had an interesting exchange with them as the policy excludes all work in or on towers and steeples - which excludes a lot of our church, including most of the electrics. Eventually they confirmed, after I insisted they send my query unaltered to the underwriters, that I was covered as long as I wasn't working "on" the tower. I'd pointed out that risk wise it was little different to working in a domestic house.

But prior to that, I had had discussions with one of their sales guys, who basically said the premium is generally based on the riskiest trade being insured. Plumbing is one of those risky trades and would have doubled the premium - not that I have a great desire to get into that anyway ?

 

[sparksfly]

OMG - Just webbing and phoning for cover. Hiscox (direct) £977 Pub & Indemnity..250k prof indemnity over £800..what ???
Octopus (Thank you Banny07) never heard of them £219... less than renewal & brokers via schemes...nice one?