Standard insurance

[deeter]

Apart from indemnity insurance, any other types viewed as necessary to a first timer? I get the impression some of it should be left to IPSE coverage.

[northernladuk]

Apart from indemnity insurance, any other types viewed as necessary to a first timer? I get the impression some of it should be left to IPSE coverage.

When you say apart from indemnity insurance, remember this can change contract by contract so you need to read it and understand what is required. A policy such as the ones from QDOS tend cover a majority of cases but make sure you read what levels are required and check.

Apart from the above you could argue nothing else is 'necessary'. They would all be recommended but would depend on personal circumstances. Something you need to assess and then read the policies you apply for and see if it covers your needs. Assuming IPSE coverage (bearing in mind there are two levels) will cover it is a bit of an assumption.

IPSE do have tax cover but there are other providers such as QDOS TLC35. Make sure you understand the small print as it might need your contract reviewing professionally to cover you.

IPSE offer other elements like Jury Cover etc. Make sure you understand these as you might want to think about extras such Health Insurance as well.

Check your car insurance includes Business use as you will be using it to travel to clients.

Check your house insurance as it might have something to say about cover of business assets like your phone and laptop.

[northernladuk]

There are also articles on what type of indemnity insurances you need as well.

[deeter]

When you say apart from indemnity insurance, remember this can change contract by contract so you need to read it and understand what is required. A policy such as the ones from QDOS tend cover a majority of cases but make sure you read what levels are required and check.

Apart from the above you could argue nothing else is 'necessary'. They would all be recommended but would depend on personal circumstances. Something you need to assess and then read the policies you apply for and see if it covers your needs. Assuming IPSE coverage (bearing in mind there are two levels) will cover it is a bit of an assumption.

Ah, apologies. I meant "recommended in people's experience", though that may still be a stupid question. The current contract only requires professional indemnity, but I'm seeing public liability pop up in discussions, and insurance firms (sales spiels...) are doing a hard sell on employer's liability too, or how a whole package "looks more professional" to HMRC. With IR35, I wasn't sure about getting it covered under IPSE membership or just bundling it in w/ the other package.

I'm mainly trying to avoid newbie mistakes, more than anything.

[Lance]

you will absolutely need public liability and professional indemnity.
Employers liability isn't a statutory requirement if you're the only person working, but some contracts insist on it and for the money it's not worth the argument.

IR35 insurance is something that attracts wide views. Personally I get IPSE+ as they will provide legal representation and IMO that's enough to make a problem go away as long as you understand IR35 and the working practices.

[deeter]

you will absolutely need public liability and professional indemnity.
Employers liability isn't a statutory requirement if you're the only person working, but some contracts insist on it and for the money it's not worth the argument.

IR35 insurance is something that attracts wide views. Personally I get IPSE+ as they will provide legal representation and IMO that's enough to make a problem go away as long as you understand IR35 and the working practices.

Solid. Thank you.

[TheCyclingProgrammer]

Public liability if you're going to be working on-site.

Employers liability if you employ anybody, have more than one director or hire anyone that can be deemed a "worker". It's cheap and normally bundled with public liability anyway.

Business contents insurance for any equipment your business owns unless already covered by your home insurance policy (many do have cover for business equipment but its usually very limited). Depending on your needs a dedicated policy from the likes of Direct Line for Business or Hiscox might be better.