Business legal cover

Re: Business legal cover

Neal Palk — Tue, 13 Aug 2013 16:49:05 GMT

Legal cover is usually covered in the relevant liability - employers liability, professional indemnity, business interruption etc so not needed as a (chargeable!) add-on. The premium will of course vary based on employee numbers, premises location, perceived risk etc but I pay c£600 p.a and that's with an explosive's licence!.........

Re: Business legal cover

Alan Tevendale — Tue, 13 Aug 2013 13:51:08 GMT

VDS for professional cover, Hiscox for employers liability and also use Citation for professional advcie/cover on employment law.

Re: Business legal cover

Bob Russell — Tue, 13 Aug 2013 12:04:30 GMT

I thought I had written a reply (hectic day yesterday!). Lloyd & White have done our insurance for many years and seem to know their stuff and are linked to some pretty good BVA discounts.

We have had odd claims over the years and found them efficient. Premiums cannot be beaten locally so worth getting them to quote. Try not to get drawn in to the gold plated stuff (including pensions) until the business is up and running. Cash flow is king and you need to be selective in your spending habits especially at the start.

Re: Business legal cover

dan forster — Mon, 12 Aug 2013 19:48:37 GMT

Yes VDS cover in place.

Thank you for prompt reply, I'll look into the finer points of the business legal cover.

Re: Business legal cover

Evelyn Barbour-Hill — Mon, 12 Aug 2013 19:00:08 GMT

I take it you have VDS professional indemnity. That includes legal cover defending yourself against negligence claims (or at the DC).

This isn't exactly legal cover, but you definitely want insurance against the costs of an HMRC enquiry. Without that you might not be able to afford the accountants' fees defending yourself against the tax inspector (whose mission is not to check that you are doing everything properly, but to extract more tax if he possibly can.)

I would have thought that anything called "business legal cover"as part of your insurance package ought to cover everything you are likely to need. I guess you need to read the fine print though.