Insurance Needs

[richardthatcher]

Afternoon Guys,

We started our business in 2009 and I just went out and got any old liability insurance to cover us. (mainly if we damage ones property)

We are now coming to the end of that insurance policy and I just wanted to ask the question of what type of insurance should we now get can we just carry on with liability insurance or cause of the trade would you recommend that we get some specific type of insurance to cover us more.

I have heard of insurance to cover us on faulty equipment and someone trying to sue us cause of the equipment was not working at the time or something along those lines. (my personnel opinion on that is that the end user should check the equipment everyday and call us out if it is not operating correctly, if they knew it was faulty and they had an event then how can we be held liable for it.)

We are not under any trading certificate like NSI/SSIAB at the moment but after xmas plan to start choosing which one and get the ball rolling but would they request that we have some minimum insurance policy in place? If they did would it be worth getting it now so that we are not tired into a year with some insurance that does not cover the needs of this.

Many Thanks,

Richard