Setting up a business?????

[FFeathers]

Hi guys, my friend and I are planning on starting up a business selling wedding favours. We want to start small so we can carry on working whilst gaining experience and confidence. The business will be online with other revenue streams coming from bridal shops / wedding fayres.

My question is around insurance - what do i need to think about and where can I get it from? For example if we sell food products do we need to be covered in case someone gets ill? Or what if one of our items breaks and injures someone. We dont want to be open to a huge law suit!!

Any tips would be welcome

Thanks

 

[ScotComp]

Companies like Direct Line provide business insurance, in fact I believe Direct Line have a tool which recommends the best insurance product depending on your needs.

It's here www.directlineforbusiness.co.uk

 

[Simply Business]

Hello FFeathers,

There are a number of different options when it comes to business insurance that are open to you. The 3 main cover types are public liability, product liability (they are often combined into one policy) and employers liability. Public liability is designed to protect you if you visit any of your customers sites (to set up for instance) put a box down and someone trips over it and tries to sue you. Product liability is what would kick in if a food product that your business sold - go's on to make someone ill. Employers liability is a legal requirement if you have anybody working for you.

I work for a business insurance broker so if you have any queries or questions please feel free to get in touch via
http://www.simplybusiness.co.uk/social/online-customer-support
Kind Regards

Tim

 

[RBS]

I would questions if you need insurance at all - its online business. No trading premises, no customer visits.

 

[FFeathers]

Thanks guys we'll look into product liability

 

[dragonflies]

I would questions if you need insurance at all - its online business. No trading premises, no customer visits.

She will need business insurance for trading at wedding fayres at the very least.

 

[louisex1]

Hello,
I was in the same boat about 18months ago with my business.
We were selling online and at county shows etc.
The insurance quotes I was getting for public liability which is mandatory if you are selling at show were ridiculous. But I found I got all my insurances free and good rates for card transactions etc by joining the NMTF (national market trade federation - I think that's what it stands for).
Have a look as the rates are very reasonable.