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XS Developments
21-02-2006, 01:48 PM
Hi,

Does anyone have any recommendations, experience, comments, thoughts on professional indemnity insurance.

I resigned from my 9-5 job yesterday <gulp> and now need to put this in place amongst many other things.

Thanks,

Jim

JamieM
21-02-2006, 02:16 PM
Hi Jim,

Best to give a local insurance broker a call.

XS Developments
21-02-2006, 03:55 PM
Originally posted by JamieM
Best to give a local insurance broker a call.


No sh*t ! - really? I hadn't thought of that. hee hee ;-) ;-) (only teasing)

Seriously, the sort of thing I was hoping to find out where experiences people have had, as well as any clear recommendations or problematic "experiences".

Also, ballpark figures would be nice - insurances are the sort of thing that can range from reaonable, to extortionate.

Thanks,
Jim

InnoCreate
21-02-2006, 04:27 PM
Hi XS,
Expect to pay around 500 to 1000 a year for this. I looked into this a few years ago but didn't take it out in the end. It's something no ones ever asked me if i have (well one person this week! lol but thats in 6 years) so for the time being it doesn't seem worth the expense.
I legal insurance etc anyway.

JamieM
21-02-2006, 04:31 PM
Sorry if my answer was a bit short Jim.

The thing is every business is different and there are so many variables in quoting for commercial insurance. One business could be paying 3,000 for PI whilst another is paying 300.

My clear recommendation is to seek professional advice which you will get from a broker - who will also obtain many different quotes for you. Don't try and get quotes directly from an insurance company unless you know what you are doing.

SBar
21-02-2006, 05:33 PM
Also note that PI may just apply to UK/EU and not to the US.

Try hiscoxonline.com for a quote