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New Ltd, insurance?

  • 29-06-2007 8:44am
    #1
    mick.fr
    Closed Accounts Posts: 1,974 ✭✭✭


    Hi I am setting up a new limitedand I was wondering what is the story with the insurance?
    My company's registered activity is going to be computer sells but I will also provide IT consulting and training.
    Is an insurance mandatory and if yes (I guess it is anyway) what is the rough price ?

    Thank you in advance for your feedback


Comments

  • #2
    antoinolachtnai
    Registered Users, Registered Users 2 Posts: 9,815 ✭✭✭antoinolachtnai


    It's not mandatory.


  • #3
    JoeTurner
    Registered Users, Registered Users 2 Posts: 201 ✭✭JoeTurner


    You should think about professional liability insurance - ie will there be any worse case scenarios where a client could sue you if something goes wrong. I've just signed up with Aon Insurance for the next 12 months for my own business for a very reasonable sum (33% cheaper than other quotes).

    Also, you say you'll be doing training - will that be on your premises or on client's premises? If you're holding training courses on your own premises you'll need occupiers liability insurance....

    Good luck with the new venture

    Joe


  • #4
    PRman
    Registered Users, Registered Users 2 Posts: 269 ✭✭PRman


    Most IT people don't bother with PI Insurance as far as I know (a recruiter told me) however you will need to get Public Liability or something like that


  • #5
    deevey
    Closed Accounts Posts: 707 ✭✭✭deevey


    Proffessional Indemnity and Public Liability at the least, last thing you want is someone to sue you after tripping over your laptop bag or projector cord on site or in your office.

    Hiscocks have a few small office IT policies that might do the trick and include the above and more extra (equipment etc ..) and shouldnt cost the earth.

    Pricewise its probably gonna be based on turnover / staff / office location / etc .. there is no real "fixed price" a GOOD broker will tell you EXCATLY what you need.

    Check your P.M.


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