Product and Public Liability Insurance

[Scottishnewbie]

Mods if this is in the wrong place I'd be grateful if you'd move please

I am in the process of setting up a business (home baking and preserves) and am at the stage where I need to get myself product and public liability.

Never having had this kind of business previously I am unsure where to find some!

Can anyone recommend (or otherwise!) an insurer who doesn't charge ridiculous fees for startups; who is easy to deal with and who can offer a decent cover ?

any comments at all will be gratefully received

thanks

[Hazel at the Hill]

If I were you, I'd find your local insurance broker (I would prefer one with a physical office locally where you can go and see them, rather than conducting business over the phone/call centres), and ask them about standard small business policies - they will deal with this all the time.

The cover on a standard policy might include elements that you don't need/already have covered on insurance elsewhere - it might include cover for your 'office' contents (in your case, kitchen) - but also your computer if you do accounts on that, for example, which will already be covered on your household ins - but it'll be cheaper to have an off the peg policy as a coverall rather than pick your way through individual risks.

I wouldn't do 'cheap' insurance - if the unthinkable happens and your kitchen has burnt down, knackering your home AND your business, you don't want to be listening to 'Greensleeves; on hold for ever and then speak to a someone in an indian call centre who you can barely understand telling you that smallprint xyz invalidates your claim.

That's why I would use a broker - they will ensure that you are covered adequately and legally, and to deal with any claims.

[Scottishnewbie]

thanks Haze, my thoughts entirely. Dont mean 'cheap' in terms of cover, more just not astronomical premiums.

didnt think about local broker though - do they not take a 'cut' as well and therefore up the premiums?

[splatcat]

Assure Uk do cover for all types, and are english LOL

[Hazel at the Hill]

didnt think about local broker though - do they not take a 'cut' as well and therefore up the premiums?

Yes, of course the broker needs to earn something out of the arrangement, but this will take the form on a commission/payment from the insurance company.

In effect, they buy the policy for you at a discount (which you wouldn't be able to secure if you went direct) and keep the discount. You should pay the same if you go direct to the insurer or through the broker.

[Scottishnewbie]

all sorted! phoned NFU as we have our buildings and contents with them and they've got a fab policy that can be added on!

Happy girlie! Just need some customers now......