I would like to set up a art craft class for children, I need help with legal stuff. What insurance I need? What kind of permit? Where to I have to report , or register?
Answers
Hi Andrea,
Hope the business is going well!
We've just joined. We know a bit about insurance.
Some you might consider are (probably in order of relevance):
- Public Liability insurance (bundled with Employer's Liability - mandatory if you have staff at min. £5m cover [many businesses take out higher levels])
- Professional Indemnity insurance (there are several specialist providers for Children's services.)
- Office/Work insurances (which may cover any inventory, computer equipment you may need or have from theft, etc.)
- Cyber Loss Recovery (skinny cyber insurance - quite affordable and protects against a range of cyber perils, useful if you're running a website with the details of customers on it.)
I'm not sure what premises you'll be using, typically you're asked to contribute towards a rented property's buildings insurance.
In the future, when the business grows, you can look at insurances for Business Interruption insurance - which covers your turnover in the event of a series of disaster perils that, when triggered, prevent you from doing your thing - that might be a fire, flood, etc. It can be added to most combined commercial insurances.
Where to go?
You can go direct, or you can find an insurance broker at British Insurance Brokers Association. Going direct limits your choice, if you don't have time to check five options, a broker can do that for you. Plus some offer additional services.
If you're buying a couple coverages, most providers have the option to "bundle" them.
Don't forget, you always have the right to ask a broker or intermediary provider (offering you choice of more than one insurer) what commission they earn - that allows you to judge their value when you experience their services. If you don't feel they've done much, you may be able to negotiate.
You may want "advise" (where a broker will make a recommendation) or "non-advised" where they don't. Typically, the former should charge higher commissions as they run higher risk of being sued if they are giving bad advice.
Hope that helps,
Good luck!
James
Hope the business is going well!
We've just joined. We know a bit about insurance.
Some you might consider are (probably in order of relevance):
- Public Liability insurance (bundled with Employer's Liability - mandatory if you have staff at min. £5m cover [many businesses take out higher levels])
- Professional Indemnity insurance (there are several specialist providers for Children's services.)
- Office/Work insurances (which may cover any inventory, computer equipment you may need or have from theft, etc.)
- Cyber Loss Recovery (skinny cyber insurance - quite affordable and protects against a range of cyber perils, useful if you're running a website with the details of customers on it.)
I'm not sure what premises you'll be using, typically you're asked to contribute towards a rented property's buildings insurance.
In the future, when the business grows, you can look at insurances for Business Interruption insurance - which covers your turnover in the event of a series of disaster perils that, when triggered, prevent you from doing your thing - that might be a fire, flood, etc. It can be added to most combined commercial insurances.
Where to go?
You can go direct, or you can find an insurance broker at British Insurance Brokers Association. Going direct limits your choice, if you don't have time to check five options, a broker can do that for you. Plus some offer additional services.
If you're buying a couple coverages, most providers have the option to "bundle" them.
Don't forget, you always have the right to ask a broker or intermediary provider (offering you choice of more than one insurer) what commission they earn - that allows you to judge their value when you experience their services. If you don't feel they've done much, you may be able to negotiate.
You may want "advise" (where a broker will make a recommendation) or "non-advised" where they don't. Typically, the former should charge higher commissions as they run higher risk of being sued if they are giving bad advice.
Hope that helps,
Good luck!
James
Andrea, hi, a general site that is likely to be a good guide to key issues is the aw Donut - http://www.lawdonut.co.uk/
The Government License Finder is useful - https://www.gov.uk/licence-finder
and the CRB checks are now called DBS details here - https://www.gov.uk/disclosure-barring-service-check/overview
Other thoughts from members would be most welcome.
The Government License Finder is useful - https://www.gov.uk/licence-finder
and the CRB checks are now called DBS details here - https://www.gov.uk/disclosure-barring-service-check/overview
Other thoughts from members would be most welcome.