Contractor insurances - our recommendation

As with all other service providers we recommend these insurance brokers have an excellent reputation amongst contractors. In our opinion they offer the best service and products at extremely competetive prices. Don't just take our word for that - no doubt just above you will see some advertisements for competitors - it is a mark of our confidence in the providers we introduce that we allow that to happen!

• Employers Liability - All contractors operating their own limited company are required by law to have this insurance. There is not much chance of the average contractor ever actually making a claim on this. Our preferred insurer bundles it in a package named Business Liability which also includes Public Liability, Business Equipment, and Business Disruption insurances which are all very reassuring to have. This means that you are not just paying for a piece of paper to satisfy the beaurocrats.
  The basic policy costs £112 and covers
  • £5 million Employers Liability
    £10,000,000 available for extra £52.50pa
  • £1 million Public Liability
    £2,000,000 available for extra £26.25pa
    £5,000,000 available for extra £52.50pa
  • £5,000 equipment cover 'all risks'
    You can easily increase the cover at only £5 per £1000 or include some cover away from the office £10 per £1000 UK, £20 per £1000 EU or £30 per £1000 Worldwide
• Personal Accident & Sickness - Without the cushion provided by a permanent employer you may sleep a little easier knowing that should your suffer injury or have health problems your major regular expenses are covered by insurance.
  
  

  Personal Accident and Sickness Cover Premium Rates

  	Accidental Death & Disablement Benefit	Temporary Total Disability Benefit	Personal Accident Premium	Sickness Benefit (Optional)	Sickness Premium
  Option 1	£20,000	£150.00 p/w	£32.50	£150 p/w	£75.00
  Option 2	£40,000	£300.00 p/w	£62.50	£300 p/w	£150.00
  Option 3	£60,000	£450.00 p/w	£97.50	£300 p/w	£150.00
  Option 4	£80,000	£500.00 p/w	£150.00	£300 p/w	£150.00
  Option 5	£100,000	£500.00 p/w	£175.00	£300 p/w	£150.00

  
  
  

  Business Travel Cover

  Benefits	Accidental Death & Disablement Benefit
  Medical Expenses	£1m
  Personal Effects	£2,000
  Business Equipment	£2,000
  Money	£1,000
  Personal Liability	£1m
  Replacement Expenses	£2,500
  Repatriation	Unlimited
  Completion of Journey Expenses	£1,000
  Cancellation/Curtailment	£5,000
  Hospital Expenses	£25 a day
  Delayed Departure	£200
  Premium	£57.50

  
  
  

  Holiday Travel Cover

  An extension to the Business Travel Cover is available for annual travel insurance that will provide cover for holidays taken by you, your spouse and your dependent children.
  Premium	£32.50

  
  Combined Business Policy wording policy
  
  
  
  
• Professional Indemnity - Increasingly agencies and clients are insisting that contractors have this cover. If you should get sued for some problem you have caused and have no PI insurance you could be waving goodbye to your house.
  The Professional Indemnity prices are as follows - prices are per annum. NOTE - prices are dependent on the fee income bracket of the company (last years fees). For start-up companies, please use a 12 month projected figure.
  
  

  Fee Band GBP	Limit of Indemnity/Premium - GBP					Excess
  	100,000	250,000	500,000	1,000,000	2,000,000	GBP
  £0 - 50,000	165	170	200	245	430	250
  £50,001 - 100,000	208	230	300	370	580	500
  £100,001 - 150,000	260	328	390	546	720	500
  £150,001 - 200,000	312	390	468	656	860	500
  £200,001 - 250,000	390	488	585	820	1,075	500
  £250,001 - 300,000	468	585	702	984	1,290	500
  £300,001 - 400,000	515	643	772	1,083	1,419	500
  £400,001 - 500,000	576	708	850	1,191	1,560	500
  £50,000 Legal Expenses cover available for an extra £75.00 per annum

  
  Professional Indemnity Policy wording policy
  
  

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