Do we need Liability Insurance?

[4leggedtrends]

We have set up a web app that only sells a service. Limited company, 2 directors, no employees. Work from home. Monies dealt with via Paypal. Do we need some sort of liability Insurance? Thanks

 

[Frank the Insurance guy]

As their are 2 directors, you legally have to have hold Employers Liability cover.

Sometimes it is cheaper to have a policy that also includes public liability cover.

Most economical way to get this cover is doing it yourself online (you should be able to tick all the boxes so get a really cheap deal - google someone like Simply Business).

As for other "optional Insurance" covers - you may want to consider:
- Professional Indemnity (In case you service fails and your customer suffers financially and holds you responsible for their financial loss)
- Cyber Insurance (To help if your service is hacked and stops you trading)

There are a number of other policies - for details click on the link in my signature below.

 

[dx3webs]

We have set up a web app that only sells a service. Limited company, 2 directors, no employees. Work from home. Monies dealt with via Paypal. Do we need some sort of liability Insurance? Thanks

We have always used Hiscox .. really good rates and you get all sorts of cover for not a lot. Cyber cover definitely worth looking at.

 

[4leggedtrends]

As their are 2 directors, you legally have to have hold Employers Liability cover.

Sometimes it is cheaper to have a policy that also includes public liability cover.

Most economical way to get this cover is doing it yourself online (you should be able to tick all the boxes so get a really cheap deal - google someone like Simply Business).

As for other "optional Insurance" covers - you may want to consider:
- Professional Indemnity (In case you service fails and your customer suffers financially and holds you responsible for their financial loss)
- Cyber Insurance (To help if your service is hacked and stops you trading)

There are a number of other policies - for details click on the link in my signature below.

Thank you very much for your advice, much appreciated.

 

[4leggedtrends]

We have always used Hiscox .. really good rates and you get all sorts of cover for not a lot. Cyber cover definitely worth looking at.

Thank you - ill go have a look

 

[HFE Signs]

Being such a low risk, you should be able to get cover for a minimal fee ?

 

[4leggedtrends]

Being such a low risk, you should be able to get cover for a minimal fee ?

Thanks thats great