Public Liability Insurance

[IMEX Sourcing Services]

Hi,

I just wanted to make sure is it complusary for all market traders to have Public Liability Insurance ? or does it depend on the market.

Also, is it only important in big shopping complexes, or does it also apply in places like sunday markets?

Thanks
Ash

 

[Jayne]

Hi,

If you are dealing with the public, Yes always. It covers you too, in case someone has an accident!

Jayne

 

[MarkPearson]

Yes it is a must have.

I do beleive it is quite cheap to get hold of

 

[IMEX Sourcing Services]

Thanks Jayne / Mark


Any ideas how much it should approximately cost? and what sort of documents are required? and how much time it takes to get it sorted?

Ash

 

[Jayne]

Hi,

I use NFU for my insurance, give them a ring. You can pay monthly and you get documents and a certificate for your public liability. Not sure what it would cost you, as we have to insure the whole bakery, shop etc and ours is quite a bit

Jayne

 

[Toon]

I have a shop and got contents, public and employers liability all in one package. It's my first year and I never had too much time to look around. It cost me over £400.

 

[MarkPearson]

Do you have a market inspector?

They generally have the insurance details.

I think when I was thinking of setting up a stall, the insurance was something between £60 to £120 for a year and that was a 6 day market

Ask the market inspector....

 

[dagr]

I have a shop and got contents, public and employers liability all in one package. It's my first year and I never had too much time to look around. It cost me over £400.

Toon, may I ask what your maximum £ cover limit is - for both public and employer's liability?

 

[AHAEvents]

Your best bet is to look at www.nmtf.co.uk insurance is included in the membership costs.

 

[fastfences]

I have a £5 mill policy with AXA for £116. Obviously the price would be different for your application, but I did heaps of shopping around and found them the best.
Cheers, Nigel

 

[dagr]

All I can say is that medical devices is not the area to be in if you want to keep insurance premiums down.

 

[fastfences]

Yeah, but it is the area if you want to make a quick Million :lol: :lol:

 

[dagr]

Millions? possible. After the military, I believe it's one of the highest margin areas for high-tech stuff (and will remain so until people start becoming immortel - like that Murhino chappie).

Quick? alas, not. Everything takes forever. (I started this reply in April 2003, and it's only now being displayed).

 

[fastfences]

Quick? alas, not. Everything takes forever. (I started this reply in April 2003, and it's only now being displayed).

Classic illustration of how far behind the French are :wink:
I'm out of here, QUICKLY!!
Cheers, Nigel

 

[IMEX Sourcing Services]

Some good advice there, Thanks a ton.

What I would like to know is, is it important that the insured person sets up the stall himself? For e.g. lets say I get the insurance on my name (& business name trading as a sole trader) and hire someone else to manage the stall. Will the insuarnce still be valid?

Ash

 

[ShiningStar]

Hi there,

There are some really good business insurance providers out there but you need to shop around to get not only a good deal but the type of insurance you need - For example I found that some companies offer all sorts of packages. There's a great website which does an online comparison. I think this is the best way to go about it? Have you tried doing anything like that? Hope this helped?