Business Insurance

When you set up a Limited Company with either our Express Service or our Liberty Service, for a small extra fee you also benefit from a range of business insurances to ensure that your business is fully covered.

The Plus Insurance Option

It’s essential to make sure you are fully covered by obligatory insurances such as Professional Indemnity, Public Liability and Employers Liability Insurance.

For only an extra £25 per month, you can add JSA’s Business Insurance to your Express or Liberty limited company package. These offer great flexibility and savings on the large premiums often charged for policies offered directly by providers.

JSA’s Plus Insurance Option provides:

£2 million Professional Indemnity Insurance*
£5 million Public Liability Insurance, and
£10 million Employers Liability insurance

* subject to restrictions in certain professions

JSA’s other Limited Company Services and Umbrella Company Services include these insurances as standard.

What is Professional Indemnity Insurance?

Professional Indemnity (PI) is generally the least understood category of contractor insurance.

It’s important to remember that a mistake in your work may prove to be very costly. As a contractor, you carry a responsibility to your clients. They have legal recourse to take action against you and your company for any financial loss. Although the chance of a successful claim against you is small, the chance of a client making a claim is much higher.

If for no other reason, having the protection of Professional Indemnity will at least pay for the expensive legal costs of defending such a claim. If a claim against you should prove to be successful, then the damages awarded against you could potentially be crippling.

As a Director of your own Limited Company, there is also the risk that damages may be awarded against you personally, as well as your company.

What is Public Liability Insurance?

This type of insurance will protect you against your legal liability if you accidentally cause damage or loss to someone else’s property. For example, its all too easy to knock a laptop off a desk, or spill coffee over a computer.

Even more serious, this type of policy covers you against claims of personal injury, should your actions cause someone else to suffer. For example, if you leave your case in a location where someone can trip over it and injure themselves.

Many agencies insist that this type of insurance is in place before allowing you onto their client’s site. This obligation is often included within the terms and conditions of your contract with them. It is imperative that you cover this risk with the correct insurance, especially if you have accepted the responsibility to do so in writing.

This class of insurance is both sensible to have and relatively inexpensive when compared to the potential risks. It also normally comes together with Employers Liability Insurance, which you may also need.

What is Employers Liability Insurance?

This insurance is arranged to protect employers against claims for injury or illness caused through work related activities brought by their employees.

For most contractors operating as a Limited Company, they are the only employee of the company, and an individual cannot take legal action against themselves.

As a JSA client operating as a Limited Company, we can extend our existing policy to include your company at no additional cost, so ensuring that you are covered for every eventuality.