Efficacy Cover \ Insurance!?!

[gupster]

Its just a shame its "another extra" starting your own business is getting a bit tricky now considering all the start up cost and bits like this.

Oh well something else to get my money out for less beers for me on friday

,

[copdog]

Its just a shame its "another extra" starting your own business is getting a bit tricky now considering all the start up cost and bits like this.

Oh well something else to get my money out for less beers for me on friday

,

So what does a small company require to cover fire alarm installations and be able to sleep at night,also does it make a difference if you are a sole trader or ltd company ?.

[amateurandy]

does it make a difference if you are a sole trader or ltd company ?.

It's worse if you're a sole trader as you are personally liable. So without proper insurance you can lose absolutely everything.

A limited company is exactly that, limited liability. But the directors can still be taken to the cleaners in certain circumstances.

As for what you need for specific trades you need some good advice from people experienced in that field; hopefully some on here will be able to contribute.

[Chorlton]

So what does a small company require to cover fire alarm installations and be able to sleep at night,also does it make a difference if you are a sole trader or ltd company ?.

Exactly the same as listed by the experienced members and ex-members above.

Efficacy for the failure of the actual supplied product(s) to perform it's intended task.

e.g detector does not activate, fire breaks out and a loss in incurred which could have been avoided if it had worked.

Professional indemninty for the failure of the designed system in being suitable for purpose.

e.g L1 system has no detector in loft space, fire breaks out and a loss in incurred which could have been avoided if L1 design done right.

I pay approx

[Guest Dave the alarm man]

A limited company is exactly that, limited liability.

to the value of shares sold, normally. far too many

[JK1981]

Constructaquote offers efficacy cover for Electricians as part of the Tradesman public liability insurance policy

[james.wilson]

And it doesnt exclude security etc. A lot of these policys designed fro example plumbers exclude certain things but cover the main line of buisiness, ie a plumber getting sued for a system failing to work and loss's resulting is hightly unlikly. Not saying it doesnt just be careful.

[Guest RJBsec]

There are only a very few insurers in the UK offering efficacy cover - public liability, although needed, is not sufficient for this industry