Professional Indemnity Insurance

[Screwdriver]

I am missing out on a few jobs around the neighbourhood (housing association stuff) that requires PI insurance. Looking at online quotes but they don't ever give you a number.

Before I make a fool of myself here, what sort of number might I be looking at for Property Maintenance/General Handyman?

S.

 

[Kayos]

I pay £12 per month for professional indemnity, are you sure you need it?

I have it for my project management business, in case I give bad advice and a wall collapses

Never been asked for it in relation to the central heating, gas or plumbing work

 

[roofman]

just don't mention naked flame or be prepared to sell the lower half of your body in soho

 

[mtt.tr]

You are after public liability insurance.

Find a proper broker

 

[Screwdriver]

Hmm. £12pm sounds very doable. I need it for any work I do for a housing association nearby. I pointed out a broken gutter which I'd typically fix for £50/£100 tops but because it's not a single flat/property it needs go go via an agency and they require PI before they put you on their books.

I typically fix gates, mend fences, painting decorating, gardening that sort of thing.

 

[roofman]

your going to need at least 5 million working on multi occupancy buildings and you wont get that for £12 a month...i currently pay £1200 a year just for liability alone (hot work)

 

[Kayos]

Hmm. £12pm sounds very doable. I need it for any work I do for a housing association nearby. I pointed out a broken gutter which I'd typically fix for £50/£100 tops but because it's not a single flat/property it needs go go via an agency and they require PI before they put you on their books.

I typically fix gates, mend fences, painting decorating, gardening that sort of thing.

My public liability is around £1400 per year for £5 million. This is very very different to my professional indemnity insurance

 

[brightspark]

dont matter what you do you need it. some prick i mean punter will trip over your screwdriver and take you to the cleaners just read the small print on what your covered for and what you arent .i cant work above 3 storys. fit aerials cant work in chemical works or -petrol stations power stations or big computer rooms . when you get it your information is all recorded on the phone and kept so if you lie you will be caught out . i pay 140 a year and that covers me for working with 3 phase in shops schools and offices etc

 

[James1979]

As Matt has said it sounds like you need Liability. Indemnity is normally to insure against bad advice or similar on your behalf.

in matts case for example, he says a tree is ok. It isn’t and squashes your house, his indemnity will pay. If he’s taking it down and squashes your house it’s his liability that’s needed.

As above, talk to a broker who deals with this stuff

 

[James1979]

Mines about £1200 for 5 mil. That’s hot works on site plus knob heads tripping over in my workshop. Marine also as long as it’s not for safety or navigation

 

[mtt.tr]

Our tree cutting insurance about 5 years ago was 2500 that was a small business

My construction insurance seemed vary fair after that.

 

[James1979]

Mate of mine pays six grand for an arb insurance. Don’t know what that’s for. He does a lot of stuff for buildings companies etc so probably 10mil I’d think. He’s got 4 blokes PAYE. Used to be loads more when he just used subbies.

dunno why they load arb work so much.

 

[hotponyshoes]

Public liability and professional indemnity are 2 completely different things.

Professional indemnity is a lot cheaper if you have a recognised professional qualification backing you up.
Ie. As a registered farrier my PI is less than £40 a year for £unlimated cover.

There are online search engines for both, just the same as car insurance, they do give prices.
They also save the details so don't get a quote then go back and change the details to make it cheaper!!

 

[mtt.tr]

Mate of mine pays six grand for an arb insurance. Don’t know what that’s for. He does a lot of stuff for buildings companies etc so probably 10mil I’d think. He’s got 4 blokes PAYE. Used to be loads more when he just used subbies.

dunno why they load arb work so much.

Yup was mental at one point ours was split so we paid 2.5k each eventually was nearer 2.5k total

 

[Screwdriver]

As Matt has said it sounds like you need Liability. Indemnity is normally to insure against bad advice or similar on your behalf.

I need the bare minimum requirement specified by this particular housing association agency in order to secure general handyman work for the shared areas. I can happily work for each and every one of them individually (so far I have worked in 4 out of the 6 flats) but if it's a shared area, I need to go via the agency. They will tell me what I need to get myself on their books.

 

[awemawson]

dunno why they load arb work so much.



Just 'cos you've no trees on Orkney

 

[Screwdriver]

Public liability and professional indemnity are 2 completely different things.

Professional indemnity is a lot cheaper if you have a recognised professional qualification backing you up.
Ie. As a registered farrier my PI is less than £40 a year for £unlimated cover.

There are online search engines for both, just the same as car insurance, they do give prices.
They also save the details so don't get a quote then go back and change the details to make it cheaper!!

Yeah I guessed as much so I will take a more cautious approach. That's why I am asking here, plus it's the weekend so I can't follow though with a phonecall. I will wait and see exactly what is needed for this agency. For example, the property has a set of wooden bins at the front falling apart. I fixed them up years ago but now that shared area is managed by an agency. Similarly, they want bicycle sheds and other groundworks done out the back.

I just need the bare minimum cover which allows me to become a registered contractor with their agency. I need to avoid any work that will bump up the premium. Someone already mentioned flames, electrical installations are out until I become registered but I'm not aiming for that. Been there, done that. I just want to do fiddly bob a job work and I am pretty sure once this agency sees my prices, I'm going to be very popular.

 

[8ob]

I am missing out on a few jobs around the neighbourhood (housing association stuff) that requires PI insurance. Looking at online quotes but they don't ever give you a number.

Before I make a fool of myself here, what sort of number might I be looking at for Property Maintenance/General Handyman?

S.

You may need to tick a few more boxes than insurances if you want in on some of the bigger housing association preferred contractors lists. Being a work safe contractor is a big step forward and won’t dent the wallet too much.

Bob

 

[roofman]

Yeah I guessed as much so I will take a more cautious approach. That's why I am asking here, plus it's the weekend so I can't follow though with a phonecall. I will wait and see exactly what is needed for this agency. For example, the property has a set of wooden bins at the front falling apart. I fixed them up years ago but now that shared area is managed by an agency. Similarly, they want bicycle sheds and other groundworks done out the back.

I just need the bare minimum cover which allows me to become a registered contractor with their agency. I need to avoid any work that will bump up the premium. Someone already mentioned flames, electrical installations are out until I become registered but I'm not aiming for that. Been there, done that. I just want to do fiddly bob a job work and I am pretty sure once this agency sees my prices, I'm going to be very popular.

your type ruins it for us "real" tradsmen trying to run companys

 

[Screwdriver]

You may need to tick a few more boxes than insurances if you want in on some of the bigger housing association preferred contractors lists. Being a work safe contractor is a big step forward and won’t dent the wallet too much.

Bob

I'm just playing at this really, it's not going to become a profession per se. I do the work I enjoy doing and I enjoy it because it makes the "client" happy. My clients are my neighbours. I would not want to do the same work for a faceless entity just for the money. If I wanted to make money for the sake of it, I'd be doing something else.