Public Liability Insurance

[Wicksygas]

Does anyone have any views, good or bad, on PLI providers?

Do your policies include an Insurance Backed Warranty or is this a separate requirement?

 

[PrenticeBoyofDerry]

PLI:
Never had a claim, so I am neutral on this.
Warranties:
If you are registered with a scheme provider, they will offer this service.

 

[ericmark]

Also never claimed but remember my son found some would not cover inspection and testing and want professional Indemnity Insurance but others allowed one to do inspection and testing so worth checking.

 

[sparkticus]

I can't add much to what has been written. Have never made a claim so I don't know if it is really worth the money as such. It's mandatory if you run your own company/sole trader/self employed etc so from that point of view I see it as another business expense and offset it against tax. The one important thing to remember is the cost is a function of what you declare that you do in terms of scope and type of work. You can make it very low cost but if you need to make a claim on something outside of the scope then you are sunk and would be in a situation where you essentially did not have PL leaving you fully exposed!! That could be something a simple as being covered for single phase work but not for three phase or being covered for heights below 4 meters only so you must fill out the forms very accurately and review your PI regularly to ensure it more than fits what you do as a business.

Insurance backed warranty is provided (very cost effectively) by scheme providers (NICEIC, NAPIT, ELECSA etc) and is optional when you sign up though you would be "encouraged" to sign up for it. The cost is usually a small fixed fee per each job submission.

I notice (from your user name) that you may be involved with GAS? (yes nothing gets by me ) If so then you should talk to GAS SAFE or whatever scheme you may be with about insurance backed warranty.

 

[Wicksygas]

Thanks for your excellent advice, much appreciated.

i'm not involved with Gas, Its a football related nickname. Noticing your location, you may know who!!

 

[Spark123]

Also never claimed but remember my son found some would not cover inspection and testing and want professional Indemnity Insurance but others allowed one to do inspection and testing so worth checking.

Pretty useless policy for an electrician as we have to inspect and test before putting into service to comply with the regs

 

[PrenticeBoyofDerry]

i'm not involved with Gas, Its a football related nickname. Noticing your location, you may know who!!

So your one of The Pirates then?

 

[Taylortwocities]

Time for a quick poll then.

Has anyone had to claim on their PLI or PII? If so, what was the outcome?

 

[sparkticus]

Time for a quick poll then.

Has anyone had to claim on their PLI or PII? If so, what was the outcome?

Sparkticus PL/PI claims 19 years = 0

 

[EFLImpudence]

Nope