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
At VICTOR MILES, we take a tailored approach to your specific business, so you only pay for the cover you need.
02
For consecutive years, we've won the Feefo Platinum Trusted Service award. Real customers have rated us 4.7/5 based on 3470 reviews.
03
Certain VICTOR MILES policies offer access to UK experts in data, legal, cyber and PR.
Self-employed insurance isn’t a specific product. It’s simply business insurance tailored to a self-employed person’s needs: a series of individual insurance types combined in one package. That means your policy might consist of multiple types of cover. Public liability insurance could provide cover for self-employed people if a member of the public suffers an injury or property damage due to your work. Professional indemnity insurance, on the other hand, helps to protect you if a client claims you’ve made a mistake or been negligent.
You can build a specific policy to suit your self-employed business needs. For example, you may choose to include public liability insurance, professional indemnity cover, or cyber and data insurance. So, if you’re a self-employed plumber, you might want to build an insurance policy that protects you against claims commonly made against your trade. Public liability insurance, for example. And if you employ anyone, even casually, you’d likely need to include employers’ liability insurance too. If you provide services, perhaps as a designer or architect, your policy might include different cover types. For example, professional indemnity insurance to mitigate against claims made over a design mistake or poor strategic advice. Another solution could be business contents insurance, to help protect your equipment.
Victor MilesPublic liability insurance for the self-employed can help cover you in the event a customer suffers personal or property damage as a result of your work. Since you’re the one holding your business up, these claims can place a lot of responsibility on you. Not only this, but they can make a dent in your profits.
Read MoreProfessional indemnity insurance can help to protect you against claims made by clients in relation to your services. For example, if you often handle client data as an accountant or you provide strategic advice as a management consultant.
Read MoreEmployers’ liability insurance is often a legal requirement(external link) for anyone who has staff. This insurance can help cover the costs of claims made by people who’ve worked for you and suffered injury or illness as a result of their work. For example, if your employee falls from a ladder in your warehouse.
Read MoreProduct liability cover is built into a public liability insurance policy – watch our short video guide to find out more.
You may want to get a product liability insurance quote if you produce items for customers. For example, if you’re involved in product:
As part of your work, you might:
You may be just one part of a product’s supply chain. But your business could still face a claim if a fault causes injury or damage.
Product liability cover is suited to many types of businesses. An electrician may fix a toaster that later malfunctions and causes serious injury. Or a children’s toy shop may sell a ride-on truck that is found to have a sharp surface.
To find the right level of product liability insurance, work out the highest cost of a claim. This will depend on the:
Product liability insurance can help to defend and settle claims. It can step in if a faulty product causes:
Product liability is added alongside your public liability insurance. This is part of our combined products and public liability cover. You can tailor your policy with the level of protection you need – up to £10m.
Failing to meet regulations in this area can bring criminal claims too. We can also cover legal defence costs up to £100,000.
We’ll cover you for: Up to £10 million. The cost of defending a claim and any compensation you’re ordered to pay is covered. This extends up to the level of cover you select for your business. Legal defence costs up to £100,000. This is covered if someone makes a criminal claim against your business. For instance, for breaking the law or failing to meet regulations. Please refer to the policy wording for the full details of inclusions and exclusions of this cover. Or contact our customer services team for more information.
Straightforward and efficient service completed in a timely manner. Policy suited my particular needs and was dealt with appropriately and professionally on the phone. I am however, still receiving regular emails regarding my initial enquiry about a quote despite taking out the policy the quote was for.
Everything with VICTOR MILES Insurance was done online and every step of the way there was a freephone number if I needed it ~ which I didn't. The quote came through with an option to accept followed by payment options. Now insured and relaxed happy it's done ✔️
The amount of cover a self-employed person might need depends on what you do, the insurance types you select, and the cover limits you set. At VICTOR MILES, we know self-employed businesses are diverse, and that risks vary across industries. For example, in the financial and legal sector, getting things wrong can come at a high cost. So, accountants might need to think about a higher level of professional indemnity insurance than those in other lines of work. Meanwhile, if you’re a self-employed event organiser, proximity to people could make public liability insurance helpful. Thinking about how much a worst-case scenario might cost could help you set cover limits.
Typically, many self-employed businesspeople start thinking about insurance when they begin working for themselves, since risks can surface as soon as you get started. For example, an unexpected claim could arise if a courier trips on a loose patio stone while collecting your first jewellery design shipment. Or a cyber-attack could knock you off your stride on website launch day. Self-employed people may take out insurance when they notify HM Revenue and Customs (HMRC) to set up as a sole trader. Those working under other arrangements might instead purchase insurance when they register their limited company or launch a business partnership.
Self-employed people may need insurance if they work from home, since many risks are still present and could even be greater. For example, those working on home networks might face additional cyber risks. It can be easy to assume working from home is low-risk, but, if you meet customers or accept deliveries for online shop stock, there’s still public liability risk. Providing services and advice as a self-employed tutor also carries indemnity risk. Learn more about home-based business insurance options.
If you get more work as a self-employed businessperson and decide you need to take on some help, you could be legally required to add employers’ liability insurance to your policy. This will likely apply whether your employees are full-time or part-time, and even to casual help at weekends. The government can fine you £2,500 for every day you don’t have EL cover in place.
A self-employed worker without business insurance could face the following challenges: Financial pressures. Your finances may take a hit if you’re required to cover legal fees yourself. Reputational damage. You might lose control of the narrative if you’re unable to defend your business effectively in court. Equipment shortages. The loss or theft of key equipment may cause delays in your workflow. Legal breaches. A lack of employers’ liability cover could lead to fines.
What is a public liability insurance certificate? The best
Read More
Summary Small businesses are failing to adequately prepare for
Read More
Post VICTORMILES
