Public liability insurance? Do I need it?

[John Matrix]

Hello lads. I’m just wondering if I need Public liability insurance if I’m subbing to companies or working for agencies? I’m getting some stupid quotes. Don’t really know what I need to include.

thanks

 

[Pete999]

Hello lads. I’m just wondering if I need Public liability insurance if I’m subbing to companies or working for agencies? I’m getting some stupid quotes. Don’t really know what I need to include.

thanks

What do you mean by "stupid quotes" John?

 

[John Matrix]

What do you mean by "stupid quotes" John?

Hi mate. I have a friend who has public liability and tools cover for 180 pound per year. I’m getting quotes of 400 per year. But I’m not sure if I’m selecting things that I don’t need to include. Such as legal expenses and it’s asking me if I work in Hospitals

 

[telectrix]

i pay £9 odd a month for 2mill. + £2500 tools.

 

[John Matrix]

i pay £9 odd a month for 2mill. + £2500 tools.

That’s moore like it lol

 

[Dustydazzler]

Yes Yes Yes you need some form of public liability even if you are a subby

I pay about 200 quid a year for 2 million cover

I was forced to use it once on a dispute over a damaged party wall where the neighbour accused me of blowing the plaster on their wall when i chased on some sockets and switches on a job. These were old Victorian terrace with no cavity. just back to back brick walls...

My insurance company paid for them to have the whole room replastered and redecorated at a cost of 5 grand. i paid 50 excess.

so yes get yourself some insurance , it was the best 200 quid i ever spent that particular year

 

[Midwest]

Not sure works quite the same as car insurance and no claims bonus, but if you’ve not had any PL insurance before, you are an unknown risk. So premiums could be little higher.

I used one of those compare web sites for my first year of insurance.

 

[James]

If you think that you MIGHT NEED IT, then get it.

it is a small price to pay for a huge benefit (if you ever need it)

p.s. if you don't have it and there is a serious issue that can be claimed against you, it is possible to loose everything. that could include your house if you own one.

 

[volt99]

I looked around for average prices and apparently the cost of liability insurance for an electrician in the UK starts at around £85 to £100 for basic coverage. So your quote of £400 does seem steep.. but of course the prices depend a lot on your individual situation. My source was this article

 

[telectrix]

but don't tell them you do any plumbing. most of the flooding we have seen on the news is not caused by climate change and swollen rivers. it's caused by wet pants. that's wht their premiums are so high.

wet-pants fitted a new shower in No' 47. ( and he fed it from the upstairs lighting circuit).

at least the Fire Brigade had plenty of water to put the fire out.

 

[Zerax]

I think the word "blowtorch" tends to scare 'em too... so something else not to mention.

 

[Rockingit]

I literally just renewed mine earlier today - £208 for £5m, ELI, PI and £5k tools...... there's deals to be had - learn to haggle!

 

[Risteard]

Mines around £200 for £10 million + £300k indemnity.

 

[Dartlec]

Mine's currently a little under £100 with Directline Business for £2m no extras.

Might be worth trying Rhino Trade Insurance, just had a good quote from them for Professional Indemnity and you can use the code BUNDY10 for 10% off (Nick Bundy on Youtube's code)

 

[cloverman]

Most definitely needed ! I paid around £200 for £5M PL plus £1M Indemnity