How much is 5m liabilty

Ive just been quoted £5365 for 3 employees , Surely thats not right?
 
That is steep, unless you have a huge turnover.
 
Ive not started the company up yet and for the first year i said 30.000
 
Nah, that is a rip off, even at 300k. Use it as a starting point but you should be able to nearly half that.

The other problem might be a new company so no real way of gauging the risk. Our insurance history is we started for the first couple of years fairly cheap although it did go up quite steeply year on year before rising to a level that would have choked a donkey and put many a man to the wall until it finally started going down some time around year 8.

It's a fickle business but good luck.
 
I got 5m public liability and employers liability for me and one more and it cost me £2000
 
Who was that with, because they will only insure me if ive bin a sole trader longer than 5 years or a limited company but ive not set it up yet ??
 
When the paper put away woman (mrs) comes home I'll get her to dig it out
 
I recently renewed mine for myself (director of ltd company) and 2 lads for fraction over £2300. That is for £5M PL & £10 EL was with Inter Hannover.

That was with Anglia Insurance Services who are/were on the forum. Ask for Mark Cookney - 01376536063.

When I first went looking for this I was told to work on a rough basis of £800 per man.

Hope this helps.
 
Did you get your insurance sorted then? would be interested to know what quote you got?

I went with northern alliance based up in wakefield. Can always give them a try. 01924 232910 ask for Jaye Ridley
 
Depending on how many staff you have you may be able to get a percapita insurance policy which is rated on the number of employees rather than turnover.

If you take this kind of policy make sure you alert your insurers to staff changes etc.

Not the best way of covering your business, but it can work out cheap as chips!
 
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