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Liability Insurance

James Ellis
Ranch Hand

Joined: Oct 14, 2004
Posts: 205
I have my own LLC "Ellis Consulting LLC" and I've been successfully doing IT contracting for 3 years.

This morning during an interview for a new contract, the client (headhunter actually) said "...and of course we'll need proof of insurance".

At the risk of looking inexperienced/unprofessional...I just nodded yes and the conversation went on. The problem is, I don't have any insurance. I think he is referring to a liability insurance...but I'm not sure.

If so, does anyone know where I can get liability insurance for a single member LLC that provides computer programming services?

Is it expensive?
arulk pillai
Ranch Hand

Joined: May 31, 2007
Posts: 3219
I am not sure which country you are from, but from my experience you can do 2 things

-- You can contract through an umbrella IT company that takes about 3 - 4.5% (shop around) for the service it provides which include adequate Professional Indemnity & liabality insurance.

-- You can find your own Professional Indemnity & liabality insurance. You need to contact the insurance brokers in your area. You need to fill up an application form to get a quotation.

You need to weigh up the pros & cons. Som employment agencies also operate like an umbrella company.

Most companies won't take contractors on borad without this insurance. It is well worth taking up for your own benefit. What if a company sue you for $1 million dollars

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