IT Contractor Insurance – Save 20% on your Premiums
Professional Indemnity insurance
An IT contractor rushes out a bad line or two of code, and his client loses a few hundred thousand pounds in revenue.
What else could go wrong in your consulting career? Bad advice, loss of data/documents? We hope you won't find out, but there are thousands of real-world reasons why freelance professionals should seriously consider buying specialised Professional Indemnity insurance. It can protect you from claims of negligence, errors, omissions or wrongful acts committed as part of your business duties. It can also help you win more business. 70% of the UK's top 10 IT contract recruitment agencies insist you have it.
Example discounted costs:
| Fee Band GBP |
Limit of Indemnity/Premium - GBP (in 000's) | Excess | ||||
| 100 | 250 | 500 | 1,000 | 2,000 | GBP | |
| £0 - 50,000 | 132 | 136 | 160 | 196 | 344 | 250 |
| £50,001 - 100,000 | 167 | 184 | 240 | 296 | 464 | 500 |
| Business Liability £5 million EL and £1 million PL £ 90.00 per annum |
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| £50,000 Legal expenses (IR35 Insurance) available for an extra £60.00 per annum |
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Business Liability insurance
If you accidentally cause loss or damage to someone else's property while on site, public liability insurance will protect you against liability. Even more serious, if your actions result in personal injury to someone else, you will also be covered. Also included is Employer's liability to protect your business from any action brought against you by any employees you may hire from time to time, for injury or illness through work related activities. A recent survey indicated 60% of employment agency T&Cs insist you protect your business with liability insurance. Employers' liability is also still considered by many to be useful as a pointer to being outside IR35.
Legal Expenses/Tax investigation insurance
Further savings can be made on Legal Expenses Insurance now just £60 for £50,000 of legal representation to defend you against any tax investigation including those on IR35, S660A & PAYE audit, corporation tax full and aspect enquiries. Jury Service £100 a day cover is also included in this policy as is dedicated helpline to contractor tax specialists, Bauer & Cottrell.
The complexities of the tax system can prove a minefield for any company and regardless of how carefully your accountants complete your tax returns, you can still end up involved in a tax dispute. HM Revenue & Customs has targets for the number of Full and Aspect Enquiries to be raised, and the amount of unpaid tax to be recovered, these targets are often exceeded. For the tax year 2004/5 HMRC conducted 38,826 Full Enquiries, 77,786 Aspect Enquiries, 29,409 Employer (PAYE) reviews. A total of 146,021 enquiries/reviews in 12mths.
Key features of these Caunce O’Hara FSA regulated schemes include
- Superior protection (AA rated scheme)
- FREE retroactive cover
- Low excesses
- Credit card or direct debit payment options Online quote, application and automatic download of policy documents
Personal Accident, Sickness & Travel Insurance
Pays out up to a maximum of £1000 per week for up to 52 weeks - after 7 days deferred period, if you are unable to work as a result of an accident or sickness. Cover can be easily organised online without the need for a medical. Discounted premiums start at just £92.48 per annum. Upgrades include travel cover for you & your family.
Health & Safety
You have a legal responsibility for the health & safety of your employees and anyone else who may be affected by your business & its activities - including customers. For just £20 per annum our discounted Health & Safety Guidance policy helps you comply with HSE regulations and implement an acceptable, safe workplace - thereby assisting in the defence of your business should it become prosecuted for a Health & Safety related incident.
Special offer to Contractor Alliance Members
Due to our strength in visitor numbers, Contractor Alliance, as part of Contractor UK, is now able to offer a fantastic 20% saving on normal scheme prices for all of the above insurance products for members of Contractor Alliance.
Prices for Professional Indemnity are dependent on the fee income bracket of the company (last year's fees). Cover for those in higher fee brackets is available. Insurance Premium Tax of 5% is included in the above premiums.
Join today & save £££'s. Joining the scheme couldn't be easier, members simply apply online in minutes for immediate cover. Please note your discount will be deducted just before you pay.
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