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Product And/Or Public Liability Insurance For Home Business

Later on this year I hope to start a small mail order business from home marketing jewellery and watches in the under £30 range. So at the moment I'm considering what insurance to take out.

I would be a sole trader, not VAT registered (because of expected turnover), and with *no* employees. At the moment I'm considering product and public liability insurance, and was wondering what your thoughts on this might be.

I do not think I would require public liability insurance, as I would not be selling at markets/shops or in similar ways. It would all be mail order. Also, the delivery person who would call would never be in my house or on any property belonging to my house, as it fronts directly onto a public road i.e. there is no front path or garden belonging to the house. Does anyone have any thoughts about this?

Also, would it be sensible to take out product liability insurance for the marketing of jewellery and watches by mail order? If so, is there anything I should specifically look for in such a policy?

Is there any other insurance which it would be wise to take out, other than insuring the actual stock?

Thanks. Jessica

Reply to
Jessica
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Caunce O'Hara - you can find information/link on

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They offer a variety of insurance services for small businesses.

Reply to
John Smith

What about workmen ? Check your business property insurance and see how far it covers your liability to any third parties on the premises.

As with any insurance, define the worst that can happen and what the financial liability is likely to be. Then decide if you can self insure, or have insurance with a high excess to reduce premiums.

If you enter into any longstanding contracts then you need to counter anything that could stop you fulfilling the contract, such as illness (look into health insurance and annual checkups) requiring a temporary or permanent replacement (look into keyman insurance).

It's worth checking industry associations, as they often offer good deals on insurance to their members represented industries.

I assume you're aware of the following -

hth

Daytona

Reply to
gspark

Also if you look around on the web you may find other people who are in a similar area, and if you aren't a direct competitor they may well be willing to give you some free advice.

Reply to
Stephen Burke

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