Consulting services can provide valuable insights, strategic guidance, pecialized
25 Wilton Road Victoria London, United Kingdom SW1V 1LW
Welcome to VICTORMILES | Business Insurance
HOW TO WORK01
VICTOR MILES customers can access discounted services through the Business Support Hub, including advice from qualified experts and tax relief resources.
02
As a contractor, you want to stay in control of your finances. Get an insurance quote and opt for easy monthly payments. Plus, we don't charge cancellation fees.
03
Our professional indemnity insurance covers a range of scenarios useful for contractors, including breach of duty of care, breach of confidence and civil liability claims.
Victor Miles
Your work may involve travelling to many places. As a contractor, having insurance in place can cover you for brushes with the unexpected, in the UK and beyond. If you’re an IT contractor, clients trust you with business-critical kit. Slip in the server room and you could damage hardware – and the owner may sue. Likewise, accountancy contractors who onboard clients at home might be liable if a light fitting were to fall and cause injury.
Read MoreYour line of work may require expensive equipment, and using this on the go could increase the risk of damage or theft. Perhaps you’re a trade contractor who uses specialist laser distance measures to get the job done, or a financial services contractor who carries your business around in a laptop bag. Delays, complaints and upfront replacement costs can all arise from equipment issues. Fortunately, you can add portable equipment insurance to your policy, which can be helpful for contractors when dealing with the cost of repair or replacement.
Read MoreYou’re an electrical contractor working on one of many construction projects. With the job in question, once the spades are in the ground it becomes apparent that your professional advice on the wiring of a new office block was poor and has led to financial losses. As a contractor, you may be liable to pay legal fees and compensation – which is where professional indemnity insurance can help. This cover can help to support you with paying the cost of compensation, should a client claim you’ve made a mistake or been negligent in your work.
Read MoreVictor MilesAt Victor Miles, we cater for a wide range of contractor professions and provide many business insurance types. Exact cover availability will depend however on the type of contract work you do. If you have any questions about cover availability in your line of work, get in touch with us . Below are some typical contractor covers.
In a contracting business, skills are what you sell. The nature of this arrangement could leave contractors vulnerable to professional indemnity risks if clients decide to take legal action. No matter how diligent you are, mistakes can happen – a lost laptop could lead to confidential information falling into the wrong hands, for instance.
Learn moreAs a contractor, you’re responsible for the work you do – but you’re unable to control claims for related injuries or property damage. You might be installing a sign on a business block when a roof tile is dislodged, falling onto a parked car. The owner may take you to court and, even if you are cleared of wrongdoing, the legal process bears a cost.
Learn moreInsurance for your all-important tools and electronic equipment could provide a lifeline for contractors. Equipment tends to sustain damage at the worst possible time, and theft can take any business by surprise. Portable equipment cover can help financial services contractors, for example, to avoid lengthy periods without their kit, such as laptops and storage hardware.
Learn moreNot sure what you need?
As a contractor, you’re not legally required to have any insurance besides employers’ liability cover. This may become a legal requirement(external link) if you hire people. However, contractors may feel they need professional indemnity and public liability insurance to help protect their finances in the event of a claim.
Contractor insurance costs start at £8.40* with Hiscox. Costs will also depend on individual factors, such as the size of your business and your place of work, as well as the cover types you add to your tailored policy. You can learn more about how much business insurance costs in our helpful guide.
Working as a contractor places you in an unusual position. For the duration of your contract, you may feel just like any other member of staff but, in legal terms, contractors and employees have different rights, responsibilities and levels of risk. How you conduct your business is your choice and responsibility, but there may be several things contractors might do to reduce the risk of facing claims. e, the WannaCry ransomware attack, which hit the NHS in 2017(external link). Out of the headlines, ordinary people can lose lots of money over mass phishing attempts. See these examples of cyber attacks.
Proof of insurance is not necessarily essential for contractors since the law doesn’t stipulate rules for most types of cover. However, some clients may request proof that you’re fully insured, and could even specify it in a contract. This could be more likely if you’re working in a place where risks to the public are heightened, such as a building site near a main road.
In business, things can go wrong at any time, so getting insurance before you start trading may provide welcome protection. You could arrive on site on your first day only to be met with an accident, theft or serious allegation. Setting up as a contractor often involves a process of networking and relationship-building. If you’re still very much in the planning stage, then it might be beneficial to start some conversations to get the ball rolling before you lay down the paperwork.
Getting a contractor insurance quote takes minutes when you apply online with VICTOR MILES. In just five minutes, you can apply by telling us more about what you do, and we’ll put together a personalised quote that’s right for your business.
The Financial Conduct Authority (FCA)(external link) instructs firms to make their policies searchable. This has applied since 2011. It lets current and former staff check for employers’ liability policies.
What is a public liability insurance certificate? The best
Read More
Summary Small businesses are failing to adequately prepare for
Read More
Post VICTORMILES
