Commercial Insurance for new business

poolsupporter

Hi guys, I wonder if anyone can help please. My partner is starting up a dog grooming business after recently qualifying. Does anyone have hints or tips on the type of insurance she will need and the best providers to go to. any help would be very much appreciated, thank you.

peteb2

Get her to go to a good broker who will do the leg work, she won't get it directly from an insurers. Bare minimum is public/products liability.

poolsupporter

Thanks for that, we'l go for a broker and see what they will do for us.

Liam McPoyle

I work in an insurance company and deal regularly enough with risks of this nature.

Below is what you need to worry about.


Limit of indemnity (Public Liability Cover) - €2.6 million or €6.5 million are the 2 standard limits, for a start up €2.6 million is perfectly fine.

Property damage / theft - Will cover for damage or theft of the equipment used on a daily basis be needed.

Treatment cover - Basically if something were to happen to the dog ie a reaction to a shampoo, will this be covered.

Employers liability - Only a consideration if she is going to have a paid employee.

Consequential loss - This is cover for loss of profit should she be unable to trade as a result of an insured peril. For example, if there was a fire and her equipment got damaged. This shouldn't be a concern for a start up business.

They are the main things she needs to get or consider getting.

I work for FBD in a different section so dont deal with the public but Id recommend you ring your nearest FBD branch office.

You will be able to get the main things which would be property damage cover, public liability for €2.6 million which includes the treatment risk cover for approx €450 to €500.

poolsupporter

Coleman Slawski wrote: »

I work in an insurance company and deal regularly enough with risks of this nature.

Below is what you need to worry about.


Limit of indemnity (Public Liability Cover) - €2.6 million or €6.5 million are the 2 standard limits, for a start up €2.6 million is perfectly fine.

Property damage / theft - Will cover for damage or theft of the equipment used on a daily basis be needed.

Treatment cover - Basically if something were to happen to the dog ie a reaction to a shampoo, will this be covered.

Employers liability - Only a consideration if she is going to have a paid employee.

Consequential loss - This is cover for loss of profit should she be unable to trade as a result of an insured peril. For example, if there was a fire and her equipment got damaged. This shouldn't be a concern for a start up business.

They are the main things she needs to get or consider getting.

I work for FBD in a different section so dont deal with the public but Id recommend you ring your nearest FBD branch office.

You will be able to get the main things which would be property damage cover, public liability for €2.6 million which includes the treatment risk cover for approx €450 to €500.

Thats a smashing answer, I cant thank you enough for such an explanation. Thats nicely detailed and simple for us newbies to understand, thank you very much. If we go with FBD I hope you see a piece of the commission somewhere along the line

Liam McPoyle

Ha ha ha, I work behind the scenes in head office so no commission for me!



All joking aside though, its an excellent level of cover so if ye do go with it then your partner will be well covered.

Let us know how you fare out.

oldyouth

Mr Slawski has given perfectly good advice. Just to add in my opinion. An awful lot of occupations have national trade associations and very often, they have arranged specific insurance schemes with cover tailored to that industry. A quick search on Google and I see that there is is an Irish Professional Dog Groomer Association http://ipdga.com/?page_id=680 and under their classified listing is a link to Gogan Insurance who seem to have a scheme. Might be worth a call

poolsupporter

Coleman Slawski wrote: »

I work in an insurance company and deal regularly enough with risks of this nature.

Below is what you need to worry about.


Limit of indemnity (Public Liability Cover) - €2.6 million or €6.5 million are the 2 standard limits, for a start up €2.6 million is perfectly fine.

Property damage / theft - Will cover for damage or theft of the equipment used on a daily basis be needed.

Treatment cover - Basically if something were to happen to the dog ie a reaction to a shampoo, will this be covered.

Employers liability - Only a consideration if she is going to have a paid employee.

Consequential loss - This is cover for loss of profit should she be unable to trade as a result of an insured peril. For example, if there was a fire and her equipment got damaged. This shouldn't be a concern for a start up business.

They are the main things she needs to get or consider getting.

I work for FBD in a different section so dont deal with the public but Id recommend you ring your nearest FBD branch office.

You will be able to get the main things which would be property damage cover, public liability for €2.6 million which includes the treatment risk cover for approx €450 to €500.

Im afraid the FBD quote came in at €600 just for public liability when i added in the extras we ended up at €1400. Will keep shopping and have a look at the suggestion from oldyouth. Thanks anyway

poolsupporter

oldyouth wrote: »

Mr Slawski has given perfectly good advice. Just to add in my opinion. An awful lot of occupations have national trade associations and very often, they have arranged specific insurance schemes with cover tailored to that industry. A quick search on Google and I see that there is is an Irish Professional Dog Groomer Association and under their classified listing is a link to Gogan Insurance who seem to have a scheme. Might be worth a call

Thanks for this il give it a go as the FBD public liability alone was quoted at €600. Thanks