Public Liability Insurance

[TEO]

Hi everyone,

Very boring topic, at least to my mind but hoping to benefit from the breadth of the forum's knowledge.

I've never had a claim but I'm coming up to renewal time for my public liability insurance and I'm wondering what other people's experience has been with their insurers? I've never spent much time on this in the past but the recent experience of a friend has concentrated the mind.

Are there particular companies that are best avoided?

Are there brokers or insurers that you would recommend?

Are there exclusions and small printy bits that one needs to be aware of?

I'm not a member of any trade associations or guilds (don't think they'd have me!) but have any members found these organisations to be of any help in getting good value insurance etc?

I'd be grateful for ant help you have to offer.

Cheers,

Toby

ps. Mods, not sure if this is in the right place, if not please put it wherever you think is most suitable.

 

[ProShop]

P L Ins has changed a fair bit in the last year or so, lots more exclusions & conditions are appearing in the renewals. So the best advice I can give you is to ask plenty of questions and read all the small print before you part with any money. FWIW it's gone up a fair bit as well.

 

[promhandicam]

I'm not a member of any trade associations or guilds (don't think they'd have me!) but have any members found these organisations to be of any help in getting good value insurance etc?

FWIW, The Guild of 'Master' Craftsman will take anyone with the ability to read off their credit card details.

 

[paultnl]

Might be worth looking at the Federation of Small Business (FSB) they have a lot of good deals and free legal cover should you ever need it.

 

[Tusses]

it makes a huge difference what you actually do.

Do you make and sell a product that the customer buys and takes away (or post it)

or do you make and fit stuff in customers houses / businesses etc ?

 

[tomatwark]

I'm not a member of any trade associations or guilds (don't think they'd have me!) but have any members found these organisations to be of any help in getting good value insurance etc?

FWIW, The Guild of 'Master' Craftsman will take anyone with the ability to read off their credit card details.

This is why I will not join.

 

[Tusses]

LOL ... I was in it about 10 yrs ago, before I knew any better. I only stayed the year !

 

[brianhr]

Try Darwin Clayton. My son uses them for his locksmith business.

 

[Anonymous]

liverpool victoria are pretty good too

 

[TEO]

Thanks everyone, lots of useful stuff there.

it makes a huge difference what you actually do.

Do you make and sell a product that the customer buys and takes away (or post it)

or do you make and fit stuff in customers houses / businesses etc ?

Both really, pretty much an equal split between the two.

Cheers all,
T

 

[kostello]

i use a broker in cookham called CIC.

they have department that just deals in business insurance.

i've always had really good service and rates....

just saying

edit for spelling

 

[TEO]

i use a broker in cookham called CIC.

they have department that just deals in business insurance.

i've always had really good service and rates....

just saying

edit for spelling

Thanks good to hear these things, I'm going to have another ring round on Monday so the more suggestions the merrier.
Cheers,
T

 

[Jake]

For business, I'd always use a broker (and it's not a bad idea generally, as effectively they provide you with an expert voice/representative for very little extra cost, and potentially another target if the insurer refuses to pay). But never trust them too much, as although they are your agent, there is a massive tension as in reality their insurers are more important to them than an individual customer. Ask them what the claims policy is of the insurer they are proposing. Insurers all claim to be in the business of paying claims, but in reality they vary widely, from "within reasonable limits our business is to be known to pay good claims" to "we'll do more or less anything to avoid paying out anything to anyone ever if it will or might save us money". You may have to read between the lines of the reply you get, as the broker may wish to avoid being too frank. If they are any good and you listen with care, you'll get the message anyway.

 

[Modernist]

For business, I'd always use a broker (and it's not a bad idea generally, as effectively they provide you with an expert voice/representative for very little extra cost, and potentially another target if the insurer refuses to pay). But never trust them too much, as although they are your agent, there is a massive tension as in reality their insurers are more important to them than an individual customer. Ask them what the claims policy is of the insurer they are proposing. Insurers all claim to be in the business of paying claims, but in reality they vary widely, from "within reasonable limits our business is to be known to pay good claims" to "we'll do more or less anything to avoid paying out anything to anyone ever if it will or might save us money". You may have to read between the lines of the reply you get, as the broker may wish to avoid being too frank. If they are any good and you listen with care, you'll get the message anyway.

Very true. The problem is how does the average small business find a good broker? The only answer is personal recommendation so you need to speak to others in the same situation, or better still those who have been in business some time.

 

[Anonymous]

The broker i use is A Plan Insurance, i use them for my commercial/PL/Van insurance. (Commercial/PL insurance is with Liverpool victoria and my Van insurance is with Aegeas all through my broker)