Home – New Forums Starting your journey Public Indemnity and Professional Liability Insurance

  • This topic is empty.
Viewing 9 posts - 1 through 9 (of 9 total)
  • Author
    Posts
  • #972931
    julia.alice
    Member
    • Total posts: 22
    Up
    0
    ::

    Hi,

    I need some advice on insurance for a very small business. I honestly don’t expect to turn over more than $5000-$10,000 dollars next year, but I would like to have insurance.

    My business, Newborn Mothers, offers services to nourish new mums so they can enjoy their babies. The main thing I need insurance for is in home mother and baby massage, Ayurvedic lifestyle consultations for new mums and hall hire for group work.

    I’m qualified but it’s not a regulated industry, and I have a baby so I can only work part time establishing the business at this stage. Any idea’s?

    #1058616
    erinna
    Participant
    • Total posts: 135
    Up
    0
    ::

    Public Liability Insurance is always a good idea. Its great even for peace of mind. You never know what may happen, no matter your income, and its best to be prepared.

    Im not intimately knowledgeable about the massage or Ayurvedic industry, but a quick google came up with the following links. One thought I had was to see if it covers the use of oils and other treatments which you may offer or use, should someone have allergic reaction?

    Rural & General Insurance – Massage
    AON – Massage

    I notice as well on hte AAMT website, they promote the AON insurance – PDF here.

    And that was the other suggestion I was going to offer – check the association you are registered with. They will most likely be able to help you out as well. :)

    Hope that helps.

    #1058617
    JaneB
    Member
    • Total posts: 324
    Up
    0
    ::

    For my music business which involves hall hire I used AON. They charge me $245 a year. The previous year it was $260. They wanted to charge a friend of mine in exactly the same business $600 and we have no clue why. Another colleague was quoted $1220 for doing exactly what I do. So beware – it’s sometimes a matter of who is on the other end of the phone.

    My colleagues with few assets don’t bother insuring at all.

    Now I’ve joined up with a large group of musicians and we have negotiated public liability/prof indemnity for approx. $150 each per year.

    You may be able to join up with other like minded businesses and negotiate a reasonable premium.

    Slightly deviating from your question…at a conference not long ago the subject of insurance came up and we found that not a single person had ever made a claim in the last decade. We totalled up the premiums that we’d all paid and oh boy! are those insurance companies ever raking it in…

    #1058618
    julia.alice
    Member
    • Total posts: 22
    Up
    0
    ::

    Very interesting!! I have to say I’ve been tempted not to bother with insurance. The services I offer I consider very low risk, my advice is non medical and I would refer to a medical professional on many occasions. I need Public Liability to hire halls, but maybe I can do without professional indemnity, at least until my business is developed and generating more income.

    I’ll also get in touch with the insurers you both mentioned, just to see what fits the budget.

    #1058619
    MyGreatIdea
    Member
    • Total posts: 2,278
    Up
    0
    ::

    Insurance has always been a necessary evil :( and I don’t believe it should be dependent on your earnings. One customer is just as much a possibility for a lawsuit as a hundred customers are.

    I guess you have to decide if you are prepared to take the risk. If someone did suffer any form of injury because of your services, what are you prepared to lose over it?

    Wendy

    #1058620
    Anonymous
    Guest
    • Total posts: 11,464
    Up
    0
    ::

    Hi julia.alice,

    Personally, there’s no way I’d consider running any kind of doula service without PI, even if that service is limited to post-natal.

    A friend of mine has practised as a naturopath for nearly 20 years, and as a doula for the past 2-3 years.

    After never having had a client complain about her service or accuse her of negligence in any way, she is now constantly facing complaints and disgruntlement about her doula-ing, including a couple of threats of legal action. Sure, those are interspersed with the sheer delight of being at the birth and so forth, but it’s a frequent and significant enough problem that it’s caused her to re-think whether this is a service she wants to continue offering.

    So, for my $0.02 worth, I’d say it’s a necessity!

    Good luck, whatever you decide,
    Jayne

    #1058621
    julia.alice
    Member
    • Total posts: 22
    Up
    0
    ::

    Good point. People are particularly emotional at this time in their lives. Even those who are normally reasonable may become unreasonable around the birth if a child. We all have such high expectations for our babies and it’s usually slot harder than we’d hoped. I don’t want people taking that out on me!

    #1058622
    Alex Honey: Int Design
    Member
    • Total posts: 151
    Up
    0
    ::

    Hi
    Although insurance can seem like a un-necessary expense, the thing it does give you is some confidence, a feeling of taking care of your business and a little piece of mind.

    For those alone, I found it worthwhile

    #1058623
    Past-Member
    Member
    • Total posts: 1,815
    Up
    0
    ::

    I agree with Jayne … I would encourage you to get Professional Liability …
    http://www.bizcover.com.au/ are really good also.

    You can call them to chat if you prefer not to fill in forms.

    Cheers.

Viewing 9 posts - 1 through 9 (of 9 total)
  • You must be logged in to reply to this topic.