Back to top

About us

Since 1995, we’ve been providing A1 accountancy services to our clients, steered by our watertight values and principles.

About

Services

With three comprehensive packages and a number of add-ons, we can equip you with everything you need to help you ride the waves of contracting.

Services
Close

Search

Whatever you’re searching for, our scope of industry knowledge and resources can help.

Contractor Insurance – Why do I need it?

As a contractor we are sure you know there are a few extra things you need to think compared to being in permanent employment, one of these things is insurance. Dependent upon what industry sector you are in, and the level of cover your contract requires you have you may need different types of insurance. […]

By Laura Nixon on 19 Feb 2016
Read time: 2 minutes

Close

Form a company

We will never share your data with anyone without your permission. Read our Privacy policy to see how we use your data.

Close

Request a Callback

From time to time we would like to contact you with news and updates about our services. Please review our privacy policy to see how we use your data.

As a contractor we are sure you know there are a few extra things you need to think compared to being in permanent employment, one of these things is insurance.

Dependent upon what industry sector you are in, and the level of cover your contract requires you have you may need different types of insurance. Here are a few examples of the different types of contractor insurance you may need.

Insurance is very important when it comes to contracting as anyone who works for themselves could be at risk when working for clients, if any mistakes are made. It is a vital part of working for yourself as you are ultimately responsible for anything that happens, whether you are a director of a Limited Company, a freelancer or the owner of a small business. Having the right insurance for your situation and contract provides you with:

Protection for your clients

If a mistake is made where either you or someone who works for you makes a mistake and it ends up either costing the client money or losing them money, then Professional Indemnity Insurance would come into play.

This type of insurance will cover the claims brought against you and your Limited Company and it also includes compensation and legal costs. For some industries, this is a mandatory requirement before any work is to take place.

Protection for yourself & your Limited Company

There are two types of limited liability insurance: public and employers. This type of insurance is a legal requirement for most businesses with employee’s in the UK, and it covers a wide range, from:

  • Protection when dealing with the public
  • Protection when clients visit your office (if required)
  • Protection when you or an employee visit a business premises

Although, even if you do not carry out any of the above, you may still need public liability insurance to cover yourself and your Limited Company if a client’s property is damaged.

As a director of a Limited Company, the three main insurances which should cover you against any negligence in a variety of circumstances are; Professional Indemnity Insurance, Public Liability and Employers Liability insurance. All of these insurances can be bought from our partner Hiscox.

Hiscox offers a wide range of business insurances that are flexible to your needs as a contractor. They are a worldwide specialist insurer for contractors and small businesses. Below you can find an illustrated guide to how to decide what insurance is right for your business.

 

Contact

We will never share your data with anyone without your permission. Read our Privacy policy to see how we use your data.