Contractor Insurance

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Choosing the right contractor insurance provider is crucial, along with the level of business insurance they provide. With so many products to choose from, knowing which one is right for you is not always easy.

What contractor insurance do I need?

SJD Accountancy is proud to work with Hiscox and offer our clients a 15% discount when they purchase a business insurance product through Hiscox.

Prices start from just £25 a month (plus insurance premium tax), quotes are available by phone on 0800 2800 358 or online by visiting for terms and conditions.   

See below for their full range of products and whether they might be the right choice for you and your business:

Employers’ liability insurance

If you have more than one employee, it is a legal requirement to take out cover. Employers’ liability insurance protects against the cost of compensation as a result of employee injury or illness. You should have a minimum of £5 million in cover and you could incur a fine of up to £2,500 a day for every day you are uninsured.

You will also need to take out an insurance policy if you have short-term or casual workers.

Hiscox Business HR insurance

As a limited company director, juggling administration, paperwork and the daily running of your business can be a challenge. Employment advice packages provide access to contracts and policies to help effectively manage staff.

Personal accident insurance

If the injury is more serious and causes permanent disability or death, your business could receive a lump sum payment from your personal accident policy. You can also offer protection against the same happening to a member of staff. If you or a key employee is unable to work, Hiscox will pay a weekly amount to your business.

Personal accident insurance will ensure that your business is protected in the event that you suffer an accidental injury which leaves you unable to work.

Buildings insurance

If you own an office, you should consider buildings insurance to cover risks such as fire water damage. This insurance does not cover you against the actual contents of your office.

Office contents insurance

Contents insurance can cover against risks like the loss, damage or theft of your property. Equipment such as computers, office furniture and documents will be protected in your premises and includes employees working in a home office.

Office Insurance

Hiscox can provide protection for your home or office-based business against the cost of replacing or repairing your business equipment if it is accidentally damaged, lost or stolen.

Optional add-ons to this cover include:

  • Portable equipment cover: This covers equipment taken outside of the office space e.g. laptops and phones
  • Equipment breakdown: This includes cover for the sudden electrical or mechanical breakdown of your office equipment.

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Professional indemnity insurance

Professional indemnity insurance (also known as PI insurance) can help to protect you in the event that any claims are made against you by a client as a result of the work you have done for them.

Hiscox PI insurance provides cover for compensation in the event you need to pay to correct a mistake. The insurance also provides cover for legal costs due to negligence.

Any business providing a professional service is vulnerable to claims of negligence if your clients have lost money. Professional indemnity insurance protects your business against the cost of settling or defending a client’s claim that there is a problem with your work.

Hiscox Professional Indemnity Insurance includes cover for:

  • Breach of contract: One of the most common insurance claims for IT contractors, covered as standard by Hiscox. This could include failing to deliver specified software features or the late delivery of a project.
  • Infringement of intellectual property rights: For example infringement of copyright or trademark, cyber-squatting violations or any act of passing-off.

Cyber and data risks insurance

Computers are an integral aspect of the running of any company. This is why it is so important to protect your IT systems. Cyber and data insurance can protect and support against data breaches, malicious hackers or any information which could be lost or misused as a result of a cyber-attack.

Limited company public liability insurance

Public liabilities insurance covers risks such as a client or member of the public injuring themselves at your premises, or accidental damage to your property.

You should consider public liability insurance if you:

  • Deal with members of the public
  • Have clients visiting your business premises
  • Visit your clients’ premises

Business insurance from Hiscox

SJD is proud to be working with Hiscox and offer our clients a 15% discount when they purchase insurance. All products are available online at or over the phone on 0800 2800 358.


What do I need IT contractor insurance for?

You may need cyber and data risks insurance as an IT contractor. This covers you against data breaches, malicious hackers and lost or misused information – which is vital cover for anyone holding data or performing IT assignments. However, as a limited company director you should also always consider Professional Indemnity Insurance, Public Liability and Employers Liability, depending on your circumstances.

What are the most common contractor insurance requirements?

Professional indemnity insurance is essential with most contracts and will cover you for professional negligence and compensation claims, initiated by a client. Legal costs for negligence are also often covered in professional indemnity insurances. Employers liability insurance protects against the cost of compensation as a result of employee injury or illness. Public liability insurance is also useful and will typically cover you for any injury to the public or damage to their property.

What is engineering contractor insurance?

Engineering contractor insurance is simply Professional Indemnity, Public Liability and Employer’s Liability insurance tailored to contractors in the engineering sector. Professional indemnity may prove to be useful in cases of a miscalculated design, whereas public liability insurance would be adept to cover you in the flawed execution of a design or product.

What is the difference between professional indemnity and public liability insurance?

Professional indemnity insurance covers you against claims a client may make against your business, whether they are for negligence or as a result of the work you have done. Public liability insurance covers you in the event of a member of the public being injured This is recommended for contractors working on site (own site or client site) or dealing with members of the public.

Do sub-contractors need insurance?

If you are the employer of sub-contractors (known as a principal contractor), you are legally required to have employer’s liability insurance. If you are a sub-contractor, you will require your own public liability insurance cover.

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