professional indemnity and public liability insurance

A telephone call or email to a couple of insurance companies should give you some idea.

IME the best insurance quotes are tailored to you personally.

I don't understand why you would avoid/not carry either

PI - your designs and 'any' advice perceived as provided in your knowledge area (or incidentally..)

PL - someone is knocked by/ or into something in your "office" or whist at someone else's location.... and you have an incident...


And to get an idea... talk to any of the big boys, Hiscox, AXA etc.

or just put in Professional Liability UK into google and chat to them.

(they are usually very friendly...)


You might also talk to your accountant (they are a font of knowledge)... you do have one ?

an initial chat to see if you get on with them/their rates will be free.

go talk to 2 or 3, ideally go to one specialising in 1 man/small business like yours (cf a shop or desk business)

Be ready to change if the one you choose doesn't work for you / your style.


Oh, and get a Waste Transfer License !!!

(free and no need to renew for most people,

 but without it and you get stopped carrying ANYTHING construed as waste in a business capacity....and fines can be big)
https://www.gov.uk/waste-carrier-or-broker-registration

"Registration is usually free if you only transport waste you produce yourself.

Otherwise, registration costs £154."

And, don't forget that PI insurance is ongoing. There is a legal expression that eludes me for this and some of my following comments but I'm just trying to give you the "head's up".


What I understand about PI cover is that if you take out say £100k this year (call it year 1) but next year (year 2) increase this to £200k, any claims that arise from an "incident" in year 1 or 2 will be covered for up to £200k. Great you say, but the converse works that if in year 3 you reduce your cover to £50k, any claim for an incident in years 1, 2 or 3 will be limited to £50k. Taking this to its logical conclusion suggests that if you don't renew in year 4, you have no cover for any of your previous years........................ So for retirement, I'm looking to buy a non trading policy to cover me for the next three or five years whilst not working just in case any claims arise. So far enquiries are looking at 2 x previous annual payments.........................


Regards


BOD