Insurance for the Self-Employed - with ConstructaQuote.com 

Whether you run your business from home or premises it is important that you think through what insurances are required to protect your business properly. The alternative could be very costly financially and could conceivably cost you your home, livelihood and much more.

UKES has teamed up with ConstructaQuote.com, an insurance comparative web site that specialises in business insurance, to provide you with a quick and easy method to get information about the various types of Insurance you might require and a quote for the business insurances that you need. The main types of insurance have been split into 2 distinct areas: -

• Insurances for Home-based small businesses
• Insurances for Businesses based from premises

Insurance for Home-based Small Businesses

Before you start consider the Insurance Policies you probably already have that could be affected as a result of you becoming self employed and starting a home-based business.

• Buildings and Contents Insurance - You must notify the Insurance Company who hold your Buildings and Contents Insurance to let them know about your change of circumstance, that you are now running a small business from your home. Be aware that many Contents Policies do not cover business contents and your insurers may charge you an additional premium to factor in this risk. It will almost certainly be the same for your Buildings Insurance so let them know.
• Car Insurance - Most insurers cover business driving by the policy holder but you need to check that it is included.  Make sure your Car Insurance includes contents cover for samples, laptop etc. The last thing you want is for you to make a claim and be told by your insurers "sorry but your policy doesn't cover you for that".

The next decision to make is what Insurances are necessary for the protection of your business and your customers.

Public Liability Insurance - Protects you against claims from third parties, your customers or suppliers, as a result of damage to them or their property.  You will need to let your insurers know if you work from home. - For any occupation in the Construction Industry, click here to >> GET A QUOTE or for any other industry click here to >> GET A QUOTE 

Professional Indemnity Insurance - This covers you if you give professional advice and could be sued by a client for negligence as a result of services you have provided to that client.  This insurance could cover a negligent act, loss of data or documents entrusted to you, unintentional infringement of intellectual property rights, unintentional breach of confidence, unintentional libel or slander and dishonesty. - GET A QUOTE

Employers Liability Insurance - Covers your responsibility to an employee in case of injury or illness at work. You need to display the Certificate of Insurance at your workplace where your employee(s) can see it. - GET A QUOTE 

N.B. If you would like to download a useful Business information Factsheet that covers the subject of Insurance in more depth - CLICK HERE.

Insurance for Businesses based from Premises

It does not matter whether your premises are rented or bought you need to give yourself the peace of mind that your business will not be affected by any 'disaster' that might come along.

Office Insurance – Although not mandatory you should consider this insurance compulsory if you want to protect your business properly.  This will cover you against events such as fire, flood, burglary, malicious assault, accidents caused by a member of the public tripping over in your premises and extras like Glass cover and Money cover.  You can normally pick and choose which parts of the Insurance you want to cover and remember Business Interruption cover if you are unable to trade because of any of the above mentioned 'incidents'.  You can usually bolt on the Public or Public & Products Liability Insurance as well (see above). N.B. You can get insurance to cover absolutely every sort of risk you can imagine but ask yourself if it is really necessary, if it is cover it! - GET A QUOTE

Shop, Restaurants and Pubs Insurance - If you run one of these establishments you will have far more actual contact with the public, buying or otherwise!  In the modern world where every one sues at the drop of a hat, your business is exposed to a far greater extent than with Office Insurance (see above).  This Insurance is again a 'pick and mix' policy and can cover Buildings insurance, Contents/Fixtures & Fittings, Stock, Public (and Products) Liability & Employers Liability (see above), Glass, Money, Malicious assault, Business Interruption and even Goods in Transit.  Think about what is important to protect you and your business. - GET A QUOTE