Insurance for the Self Employed and Tradesmen

Many insurers provide a bespoke ‘package’ type policy for the self-employed or tradesmen, catering specifically for all their general insurance requirements.

Initially designed for self-employed one or two man firms of contractors, these policies have developed into accommodating almost all forms of small contracting firms (often up to 8 staff including owners).

Further, non-contractors are increasingly accommodated such as management consultants, self-employed contractors and designers, and other such professionals.

Non-contractors operating a business from home are best catered for by a working from home policy. The main insurances included are:

Property Damage & Theft (Buildings, Glass, Contents, Stock etc.)
Computers (separate wide cover, some insurers)
Business Interruption – generally on an Increased Cost of Working basis
Money on the premises, in safe, in transit
Employers’ Liability
Public Liability
Products Liability (if applicable)
Legal Expenses (some insurers)
Personal Accident (some insurers)

Rowlands & Hames have access to numerous insurers competing in this market.

Hotels

At Rowlands & Hames we specialise in Insurance for Hotels. We have a wide range of policies, so we are sure to have one that meets your Hotel needs and budget perfectly.

We have a team of experienced Hotel specialists, who fully understand the risks, and pressures, faced by Hotel owners. This means they have the knowledge, and facilities, to tailor a Hotel Insurance quote to your needs.

As we have such a wide range of Hotel Insurance products to choose from, you are sure to obtain the best cover, at the lowest premium, and as we only use secure UK based insurers, you get extra peace of mind too.

Quotations

Office insurance – what is it and what does it cover?

Many insurers provide a bespoke ‘package’ type policy for office insurance, catering specifically for all their general insurance requirements.

These office insurance policies do not extend to include any ‘professional indemnity‘ exposures – these would generally be arranged separately although some insurers can now extend to include PI in the one policy.

Any non-manual work-away from the office can also be accommodated, as can businesses that facilitate employees working from homes.

Rowlands & Hames have access to numerous insurers competing in this market, contact us for more details.

Small Business Packages

Whilst many such policies can be purchased online today, these are often standard policies and cannot be arranged to suit your particular needs.

We have access to a wide range of providers’ and schemes’ products aimed specifically at typical small businesses such as:

Speak to our Commercial team to discuss your particular requirements or click on the links for more information on each product.

Hairdressers & Beauticians

Many insurers provide a bespoke ‘package’ type policy for hairdressers and beauticians, catering specifically for all their general insurance requirements.

Occupations accommodated range from the simple barbers (the least risk), full hairdressing salons, through to businesses offering various beauty treatments, plus of course any ‘mobile’ services.

A wide range of treatment risks can be accommodated – these are rated by treatment and the number of operatives permitted to provide the service. Many insurers are very selective as to acceptable treatments and it can be more appropriate to insure the treatments separately.

Care should also be taken where ‘chairs’ are rented to self-employed operatives. Care should always be taken to ensure such self-employed persons hold their own insurances so as to limit your exposure to ‘contingent’ only.

Public Houses

Many insurers provide a bespoke ‘package’ type policy for Public Houses and Bars, catering specifically for all their general insurance requirements.

Premiums reflect the business location, the type of bar/pub, city/town centre or not, food-led or wet only, types of entertainment, licensing hours, paid entrance or not, security and manned-security in place and of course claims experience.

Insurance for New Ventures and Start-Up Companies

We support Start-Up Britain!

Background

The UK’s Government is encouraging us all to take up the challenge and become entrepeneurs and start up new business ventures.

It hopes by encouraging people who may have been made redundant, have just left university or indeed just want a new challenge and direction to start-up a new business. It is hoped that such growth in the private sector will take up the challenges of a much reduced public sector, by reducing unemployment, increasing gross domestic product, increasing the UK’s balance of trade, thereby reduce the nation’s deficit.

The basics

If you establish a new business whether as a sole trader, a partnership or a limited company, arranging the appropriate insurances tends to be towards the top of your ‘to do’ list.

Certain commercial insurances are required by statute law and so mandatory such as Employers’ Liability and Road Traffic Act cover for vehicles.

However, some insurances are generally a pre-requisite of doing business with customers such as Public and Products Liability and for some firms Professional Indemnity. Customers will expect any firm they deal with to hold the basic insurances in the event of any any product causing injury or damage and in the case of Professional Indemnity, if any incorrect professional advice causing financial loss.

You’ll probably wish to hold other insurances to protect the firm’s assets and revenues for example, whereas others you’ll feel you ought to hold in order to protect your own personal position such as with Directors & Officers Liability and Management Liability.

Experience suggests the purchase of insurance for new start-up firms is very much split between ‘must have’ insurances, ‘should have’ insurances, and ‘nice to have’ insurances and a good insurance broker can guide you through the decision making and buying process, as your new business grows and funds available for insurance permit.

Independent advice at the right time

At the early stages of a new business the owner/principal/director needs to be able to talk to a professional in the knowledge that they will not try and ‘sell’ something they don’t need (at that stage at least!)

Fundamental to this is the need to fully understand your business from the start, your initial set-up is important, but also your plans for the future so we may consider future changes and growth in our recommendations. Starting small is good but any insurance programme needs flexibility to grow and develop and many changes may be required, even in the first few months. There are insurance companies that offer policies direct but remember they can usually only offer one type of product and can’t offer advice – only a broker is independent and can provide such advice.

Rowlands & Hames wish to retain you as a client for many years and it is in our best interest to provide the right level of cover, for the right premium, at the right time, throughout the development of your business.

Premiums

Premiums for the basic covers start from as low as £100 for a basic Public Liability insurance.

To assist with a new enterprise’s cashflow, payment by 10 or 12 instalments is available, occasionally even interest free.

Rowlands & Hames, who are Chartered Insurance Brokers, would be delighted to help. Please have a browse of our website gather more information about some of the products we offer. Many are specialist insurances – remember initially it may only be the basics you require. Don’t be embarrased if your business is only small or asking any question, remember every firm was once a start-up!

Please contact us to discuss your own small business – we’ll be happy to help you in whatever business sector you’re involved with.