Insurance For IT Contractors

From basic repairs and builds through to emergency cover, your clients call on you for your expert knowledge and professional skills.

It is important that you consider the protection you have should things go wrong. There are likely to be some insurance products you are obliged to take out due to the terms of your contract, or you may decide you wish to provide yourself with peace of mind while you are out working as an IT contractor.

Here at Erskine Murray, we work alongside a wide range of different competitive insurers for years, which enables us to offer quick quotes with a fast turnaround for your cover contracts. We take the time to understand your needs as a contractor and make sure we have good enough information so that we can recommend the right business insurance policies to suit your requirements.

IT Specialist Insurance

Whilst you are not always legally required to have insurance as an IT contractor, there are two main times when it is simply necessary to have specific insurance in place.

As a condition of your contract – some clients require you to have the relevant types of insurance in the contracts for your service, such as professional indemnity cover. Most businesses require Employers’ Liability Insurance, however, limited companies with a sole employee are exempt, if they own at least 50% of the shares in the company.

Should you be working via an umbrella company, you will be an employee of that company and in most cases will automatically be able to claim using their insurance. It is important to check with your company to be certain you have the cover in place! Not every personal service will necessarily apply to you, which could cause financial problems if you are not aware of which service applies to you. Not knowing what you are able to claim on could damage your income, even over a health issue or accident.

Insurance Cover for IT Professionals

There are a range of different insurance products which can suit an IT contractor, and Erskine Murray can help make it easy to pick out the best options to suit your new specific needs and requirements. Here are just some of the policies you may wish to include in your cover.

• Professional Indemnity Insurance: this covers you in case a client sues you for making an expensive mistake in your work. This could be due to negligence, loss of data or unintentional breach of copyright for example.
• Public Liability Insurance: essential in case a member of the public is injured, or property is damaged as a result of your actions. This could be something like damaging a computer at a client’s site.
• Employers’ Liability Insurance: in case one of your employees is injured whilst working for your company. This is a legal requirement for most UK businesses.
• Tax/IR35 Cover: this can cover the cost of professional representation should HMRC select you for a tax inspection. Depending on the cover, you may be insured for VAT, PAYE and National Insurance enquiries too.

Another insurance policy you may find useful and necessary as part of your role as an IT contractor is the cyber liability insurance. Contact us today for a quick quote, or to discuss your current or new insurance documents with our specialist business insurance brokers here at Erskine Murray.