Why Do Web Designers Need Professional Indemnity Insurance?
In this day and age, every business has a website. A website is a crucial part of a business’s customer engagement, and therefore not any old website will do. Clients will pay a web designer good money to design something that not only works and looks good but gets them business too.
If a website design fails to convert leads, doesn’t perform the way in which the client expects or keeps crashing, they’re going to start asking questions. You may not have done anything wrong, however that doesn’t always matter. The fact that there is an allegation against you is enough and you have to do something about it that takes time and money.
That’s when web designer’s professional indemnity insurance steps in, as it pays your legal bills, argues your case and frees you up to keep running your business. This will allow you to keep your business running and not damage your reputation.
How Much Professional Indemnity Insurance Do I Need?
Professional Indemnity insurance protects your business, so you have to decide what level of cover is enough for you. You need to consider what you do, who you do it for and how much it’s worth. Think about the worst-case scenario, what could go wrong and the potential financial loss your client could incur.
Always bear in mind that you can’t have too much cover. Your legal defence can cost many tens of thousands of pounds and that’s before the compensation bill from your client arrives! Your level of cover has to be enough to cover all of this.
What Other Types of Insurance May A Web Designer Require?
Public Liability Insurance
Public Liability insurance is for when you go out and about on business or have visitors to your office. It’s for claims of physical damage to property and people.
Employers Liability Insurance
Employers Liability insurance covers your business if an employee sues it for damages. Claims are usually because they’ve suffered injuries and illnesses as a consequence of working for you. It’s a legal requirement for UK businesses with employees.
Office & Property Insurance
Office and Property insurance covers for the things in your office (furniture, plants, fixed IT equipment etc) and portable insurance covers gadgets and technical equipment away from the office (laptops, tablets, projectors etc).
Business Interruption Insurance
Business Interruption insurance means you can still work when your office is out of action. Be it a flood or fire, you’re covered for the costs of setting up elsewhere and for any los revenue in that time.
Directors & Officers Insurance
Directors & Officers insurance covers your company bosses. Anyone from regulators to shareholders to competitors can accuse you of not running a business with due care. Worse, directors are personally liable for their actions. The good thing is this insurance covers your defence costs and any compensation you have to pay.
What Can We Offer?
We can quote for all of the above insurance policies that are mentioned. If you would like to obtain a quote, you can use our online professional indemnity quote system, or alternatively contact a member of our team.
Posted by Jess Brown on September 6, 2019 in News, Professional Indemnity Insurance | Leave a comment |