Hi guys, 

 

I want to make the leap this coming year and I hope to start with a show. 

 

 

Can anyone offer advice on where to start. Do I have to be set up as a business before I can get public liability insurance? 

 

I'd like to set myself up as a sole trader, however seeing as I have no official place of business I feel I've fallen at the first hurdle... 

 

 

So where do I start? Get registered as a sole trader and register the company name. 

Get public liability insurance? 

Get an accountant? 

 

The show I'd like to attend is in August 2015. 

 

 

Any and all advice gladly received. 

 

Andy

 

 

This is a good subject to raise with an insurance broker/company by this I mean a traditional one and not Budget nor Tesco.

The rules and regs vary from place to place dependent on local laws and by-laws so what may be ok in one part ok the uk may not be so in another. Some of us operate in  numerous countries and some just in their neighborhood(or lounge-chair).  A simple mistake made with no insurance in place could ruin you for life.   

 

Some advice I was given many years ago was to look for a successful small business in your locale, then ask them who their accountant is? Contact this person and make your enquiries there. He will be able to advise you wrt. The local requirements etc.

Thanks Ian, I'll do that as soon as I can. 

 

Andy

I would have a look at Ian wallace ltd they are a craft insurance and will cover makers and demonstrators but not installation . so fine if you make but not if you install. they are by far the cheapest. 

 easy to find on the net.

I agree with Owen. I went with ian wallace years ago and not found better/cheaper :)  Also, as to your sole trader base problem, you just register your postal address as the business address (even if that has to be your parents' place for the time being)

Thanks gents. I'll get my insurance from them. They are indeed much cheaper that my other quotes which is good. 

 

Andy

Show booked. Insurance on it's way. 

 

:blink:  :blink:

 

 

Now I need to:

 

1. get the finger out and make a load of stock. 

2. Rig up the hand cranked blower to a portable forge

3. Build a more mobile vice stand... 

 

 

 

*insert waving arms round like a looney smiley* 

 

Andy

You will learn about the "Cheapest Insurance", the First time you make a claim!!

You will learn that it is the most expensive Insurance because you are not covered enough.

You will learn about co-insurance.

You have coverage for $20,000.00 inventory, You carry $60,000.00 inventory. You are only covered 33%

Therefore if your loss was $20,000.00, we will only pay 33% after all the other deductions = approx 20%.

 

There is a reason why Insurance Companies have the BIGGEST Buildings!!!

 

moral of the story;

DO NOT BUY THE CHEAPEST INSURANCE!!!!!

 

Listen to what Ian said!!! Ask someone who knows how your region works, successfully.

 

Neil

I was under the impression that as long as it's a private client Ian Wallance do cover you for installing work, but they don't cover you for contract work.

Worth bearing in mind. Thanks Joel.

All the best
Andy