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

 

[Zerax]

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

Who was that with ?

 

[ElectricAvenue]

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

Hi

Can I please ask who you used? I'm looking for cover at the moment x

 

[stevethesparks]

Trade Point Insurance Services
Public & products liability £5,000,000
Professional Indemnity £100,000 Aggregate inc costs & expenses
Wiring certification £100,000
Personal Tools £1000
£27.37 per month

 

[ElectricAvenue]

What company did you use for your insurance? The cheapest I can get is £27.32 per month... Is that about right do you think? x

 

[LukeD]

10 million cover against 5 million was only another £30 with Hiscoxs . I have used them for years .can be bothered to see if i can get a better deal .They have been around and if anything went wrong .I want them to be dealing with it .Not some rubbish company that will run away in the middle of the night etc

 

[Teddy Lop]

Mine was £333 through the nic for 5m PL plus 300k PI and 5k tools.

Interesting how the indemnity element used to be 100k as standard which I always felt in my guts was too low given some of the atrocious workmanship you have to tackle on a daily basis, but I had to fight them to increase it, but now that all the slum-lords have been forced to get inspected they've jumped it to 300k!

Everthings jumped in price recently in my experience, but as the saying goes its cheap compared to the cost of not having it..

 

[Risteard]

Mine really jumped this year. For £5m/€6.5m public liability and £250k (or Euro equivalent) professional indemnity and with legal expenses cover was around £1,200 this year. This includes the RECI Extension which includes the territorial extension for the south of Ireland plus specific indemnities to RECI, the ESB and the CRU and all of RECI's other requirements (e.g. no height limits on policy). But most insurers won't even quote for this.

 

[TroyatRhino]

Hi guys, it's Troy here from Rhino Trade Insurance - Happy to offer preferencial rates on your Liability & Business Insurance. Feel free to email me directly on [email protected] and I'll do everything I can to beat your renewal quotes.

 

[i=p/u]

Depends how you awnser questions, single phase, 3phase, fire alarms, giving out advice, many years you been a spark, crazy when they talk you through it in 3 mins...

300 for 6.5 million plus 100,000 indemnity. North and south ireland.

 

[banny07]

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

who with? if you don't mind.

 

[Risteard]

who with? if you don't mind.

That was with NICEIC Insurance Services. However now I'm insured through Camberford Law - around £1,200 for £5m/€6.5m with Legal Cover and Indemnity also.

 

[diamon]

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

Which policy you have bought then? i am also looking for some insurance recommendation, few people recommended me to get general liability insurance, so I am confused right now

 

[LukeD]

HISCOX has always been the best for me

 

[banny07]

I just paid `74 for 200k. PL. to simply business insurance, paid 89 for 250k personal indemnity to octopus.

 

[Dustydazzler]

Thought the cps domestic scams req £2 million PL ?

 

[banny07]

yes

 

[LukeD]

I always have used Hiscox as i feel they are big enough to be there when needed . I would never be claiming for tools etc .Just a case of 3rd party to pass on if required and let the insurance company deal with legalities (I have legal cover also )

 

[Simon47]

Having only done DIY for decades, a few years ago I got PL&PI insurance to be able to sort out the electrics at church. My last renewal was £225 inc extra taxes etc. That's to cover electrical work (not restricted in type of property), T&I (invokes the risk of PI liability), and "general handyman" which I got added for no extra. IIRC it could have been somewhat cheaper without T&I, or with electrical work restricted to specific premises (either domestic or domestic and commercial).
Had an interesting exchange with them as the policy excludes all work in or on towers and steeples - which excludes a lot of our church, including most of the electrics. Eventually they confirmed, after I insisted they send my query unaltered to the underwriters, that I was covered as long as I wasn't working "on" the tower. I'd pointed out that risk wise it was little different to working in a domestic house.

But prior to that, I had had discussions with one of their sales guys, who basically said the premium is generally based on the riskiest trade being insured. Plumbing is one of those risky trades and would have doubled the premium - not that I have a great desire to get into that anyway ?

 

[sparksfly]

OMG - Just webbing and phoning for cover. Hiscox (direct) £977 Pub & Indemnity..250k prof indemnity over £800..what ???
Octopus (Thank you Banny07) never heard of them £219... less than renewal & brokers via schemes...nice one?