PI Insurance

[feen]

A few months ago I started a new business venture manufacturing accessories for UTVs or off road buggies (google polaris ranger). A local dealer knew I messed about with a welder from time to time and asked me if I could make a canopy for the back of the vehicles he sells.

I came up with a prototype and have since sold a few units.

There is a fair bit of work in the pipe line and so I'm thinking about Liability and Indemnity Insurance.

The products are purely "bolt on" and only deal with storage on the vehicle. They do not effect the performance.

Can anyone advice what insurance products I should be looking at? I've done a search and found a thread from 2009 but I'm not sure what exactly I'm looking for.

Are the insurers going to ask lengthy questions about HSE, methods and coded welders?


All the best

JF

 

[Welderpaul]

I have Products Liability insurance, amongst other stuff, that isnt a very big cost a year.

I also have Professional Indemnity insurance, thats a different matter, thats 7.5k a year; covers me up to ten million.

Products liability may well cover you, we have PI for design work that you might not need.

 

[feen]

Thanks Paul,

After reading a couple of things online, I'm begining to think I don't need it. Products Liability sounds more like it.

JF

 

[Justme]

Wont your items affect the safety of the vehicle? So might need some sort of approval from the manufacturer (which is where the indemnity insurance might come in). Especially the canopy as that will be adding weight high up affecting the COG.

Either way it will be up to the insurer to decide what they want. The only reliable way you will find that out is to ask a few insurers & see what they say.

 

[snowcat]

Your Insurance will not likely to care what protocols you work too, any breach within the clauses will simply make them not liable to payout in the event of a claim.

When I work or Mft stuff for company's typically they will want to see My Insurance Certs, Anyone who subs for me is my responsibility and it is up to me to insure I meet the HSE Regs, fill in any permits, brief subcontractors and work to a Risk assessment, If I don't and something goes horribly wrong then the insurance is as good as Void.

Insurance is there to protect you when you've done everything correctly as agreed to by your client and still the unexpected happens..

It is upto you to ensure that you have the correct HSE/Codeing/Testing/training procidures, you Insurance Public and or Indemity are only a double buffer.