Insurance

[Phill Fenton]

How long is a piece of string?

Unfortunately, we only discover how good an insurance company is when we come to make a claim 😕

And in my (limited) experience, I have to say – treat with trepidation. They are a business just like any other business, out to make maximum profits for minimum costs. In truth, we would probably be better off without them!! Put your annual premiums under a matress and use the money saved to pay out in the rare occurence you have to settle a claim.

Probably best to trade as a limited company – then if you ever you get hit with a massive claim you cannot afford – just fold the company 😕

[Martin Pearson]

Be careful if you are looking elsewhere for insurance, been a couple of threads on the forum by people who found out that their insurance didn’t cover them when they thought it did. Your Sign Elite quote might be more than you would like to pay but at least it is tailored to the industry.
Don’t listen to what sales staff tell you, make sure anything you ask about is in writing.

[Graham Shand]

It’s a pity the sign makers do not have a union ( woo ) the reason I mention this is because unions like Bectu offer all members in the free lance division public liablity insurance up to 5 million, now given the fact that there are a lot of members of this forum, I don’t think it is beyond the ken of some enterprising chap, to talke all these memebrs along to an enterprising insurance agaent and cut a deal, bespoke for sign makers, and they would not be on any comparsion web sites, free pen anyone. It could solve a lot of issues , save a lot of time, save us all a lot of hassle not to mention money. just my two pence worth

[Lee Attewell]

Why don’t you see an insurance broker? They will look closely at your business and will advise the best policy for you.

They’re also independent and work for you not the insurer.

Mine is worth her weight in gold. I have never needed to call the insurance company directly with a claim. I just ring Jody and she does the lot.

Saved me about three grand this year on Workers Comprehensive Insurance as well

[NeilRoss]

quote Phill Fenton:

Probably best to trade as a limited company – then if you ever you get hit with a massive claim you cannot afford – just fold the company 😕

Beware. This may work in some situations but I think you’ll find that company directors are legally personally responsible for ensuring the company is managed legally and this includes arranging suitable insurance cover. If the claim is going to be massive there’s more chance that the claimant would pursue it to the full extent of the law.

[David Hammond]

I went with Blackstone.

I know the insurance broker who works there. They came and viewed my premises, what I actually do as a business, my machinery, and put together a very competitive quote, with much better cover than an off the shelf policy.

[Nikolas Cooper]

Thanks for the replies if given me something to think about.

[Phill Fenton]

quote NeilRoss:

quote Phill Fenton:

Probably best to trade as a limited company – then if you ever you get hit with a massive claim you cannot afford – just fold the company 😕

Beware. This may work in some situations but I think you’ll find that company directors are legally personally responsible for ensuring the company is managed legally and this includes arranging suitable insurance cover. If the claim is going to be massive there’s more chance that the claimant would pursue it to the full extent of the law.

Your right Neil, and my original post was made in a moment of anguish and despair at the cynical way that many insurance companies seem to operate these days. When my van was written off by a wayward driver a couple of years ago my wife was pursued endlessly by the ambulance chasers who had been sold her contact details (presumably by our insurer) urging her to make a personal injury claim. And despite the fact she was absolved of any blame for the accident and the other party was held 100% responsible, we were very badly treated by our insurer who should have been acting on our behalf..

..there you go, you’ve gone and wound me up again 😕

[NeilRoss]

quote Phill Fenton:

quote NeilRoss:

quote Phill Fenton:

Probably best to trade as a limited company – then if you ever you get hit with a massive claim you cannot afford – just fold the company 😕

Beware. This may work in some situations but I think you’ll find that company directors are legally personally responsible for ensuring the company is managed legally and this includes arranging suitable insurance cover. If the claim is going to be massive there’s more chance that the claimant would pursue it to the full extent of the law.

Your right Neil, and my original post was made in a moment of anguish and despair at the cynical way that many insurance companies seem to operate these days. When my van was written off by a wayward driver a couple of years ago my wife was pursued endlessly by the ambulance chasers who had been sold her contact details (presumably by our insurer) urging her to make a personal injury claim. And despite the fact she was absolved of any blame for the accident and the other party was held 100% responsible, we were very badly treated by our insurer who should have been acting on our behalf..

..there you go, you’ve gone and wound me up again 😕

Amen to that! 😉

I was pretty sure you were talking in jest Phill, so the reply wasn’t aimed at you, but just a heads up to possibly somebody less experienced and maybe just starting out, that might have got themselves into a hole.

I’m not too surprised to hear your experience of the insurers though. Seems the entire financial sector are all entangled in cosy trade-off arrangements these days.

… now where did I leave that soap box? … 🙄

[Stafford Cox]

Try speaking to Keith at Atlantic. He seems to be very agreeable on price and has a whole host of Freelance guys on his books