PI Insurance

[Welderpaul]

Anyone recommend a decent company to get professional indemnity insurance with?

 

[madkayaker]

what you broken?

 

[Drains]

Anyone recommend a decent company to get professional indemnity insurance with?

Why'd you need it Paul, over and above public liability etc?

I ask, cos the insurance thing is a black art to me, and professional indemnity has been coming up in conversation...

Sounds like the lawyers and insurance companies are in cahoots again.

 

[Shox Dr]

that's one thing I dont miss about been SE. I had to have Public, Employers, and Product. Cost me an arm and a leg

 

[Welderpaul]

It's for design work. In case i drop a gonad and design something that doesnt live up to it's expectations. Basicaly provides an insurance backed warranty to the client. It's something i've been asked to get prior to doing some design work.
Got a few online quotes - prices don't seem 'that' bad...just wondered who would be best to go with.
I have product liability amongst other things, wonder if this would be ok???

 

[Shox Dr]

The one thing I wouldn't be doing is assuming anything. If your insurance doesn't cover you for what you think it does, then you might as well not pay it. I've lost over 35k because I thought I had the correct insurance.

 

[Shox Dr]

I would also be making sure I had a good contract, stating any work you do, is carried out under the control of the client, to their spec, and design. It might not cover you but will make the client think twice about asking you to design any old thing

 

[Paul.]

Have a look here Paul, PI insurance can be more expensive than all your other insurances, any structural design work I do now is checked out by chartered engineers who have their own insurance, and submitted to the customer for design approval before starting work.

 

[drivewasher]

My eldest son has a business training folk to find cables aetc underground.
He was telling me this weekend that he has to have PI insurance and it costs well over £2,000 per year

 

[Drains]

Have a look here Paul, PI insurance can be more expensive than all your other insurances, any structural design work I do now is checked out by chartered engineers who have their own insurance, and submitted to the customer for design approval before starting work.

Definitely a good way to go. I have a tame structural engineer who's passed his professional eye over a number of structural and critical jobs over the years.

Takes the stress out of a job, and you can still build it into the price, whilst keeping it looking professional.

Mind you Paul, with your radical growth in turnover you'll be needing a drawing office soon, complete with engineers and coffee machine lurkers. Get the insurance mate.

 

[MrFluffy]

I get my PI and PL insurance from a membership of the professional contractors guild affiliate under one of their schemes and it is screamingly cheap as a result.
Might be worth a enquiry? theres other significant benefits to membership too (ir35 and other tax law legal representation, vetted credit recovery agency affiliate schemes etc)
http://www.pcg.org.uk

 

[English Steve]

I got my business insurance through here, as previously suggested in another thread (GavUK I think). I don't currently use PI insurance, but they do offer it. May be worth getting a quote.
As MrFluffy said, membership of one of the Professional bodies will usually gain you access to good insurance quotes.

P.S When you do open your drawing office Paul, put my name down for an interview!