Anyone self employed IT techs here?

[SkidMarkKing]

Hi,

are there any self employed IT technicians here, if so what insurances do you have?

Have a local legal company asking me to provide IT support.

Being a one man band I don't offer support contracts. The insurance for them are asking regarding backups, regular checks, MFA etc.

Staff are using laptops for personal use which i've said they need to be strictly business, encrypted as well.

Tempted to walk away from this one.

 

[Maccy]

I have public & product liability and professional indemnity insurance with Hiscox. First one gives me £2m of cover, second one gives me £1m of cover. Costs around £35/month.

 

[SkidMarkKing]

I have public & product liability and professional indemnity insurance with Hiscox. First one gives me £2m of cover, second one gives me £1m of cover. Costs around £35/month.

Do you offer support contracts as well?

Looking into if I need professional indemnity currently.

 

[Maccy]

Do you offer support contracts as well?

Looking into if I need professional indemnity currently.

No I have a long term engagement with an end client, but terms of the contract are that I need the above insurances.

 

[Quartz]

Looking into if I need professional indemnity currently.

I was, long ago, and professional indemnity insurance was mandatory.

 

[chrismscotland]

Yeah Professional Indemnity and Public Liability were stipulated as part of the contract I have

 

[SkidMarkKing]

No I have a long term engagement with an end client, but terms of the contract are that I need the above insurances.

Ah, I only offer ad-hoc repair/annual servicing, no contracts. I do state to larger companies they need more of a managed IT provider with multiple staff really.

Will look into professional indemnity as well. Looks like AXA for £21/month offer 500k indemnity and 1m public liability.

 

[melmac]

Do you offer support contracts as well?

Looking into if I need professional indemnity currently.

Think carefully about getting into support contracts since you are a one man operation. They can take a lot of your time. I don't know how busy you are right now. But you might have to decide between keeping your regular work or keeping the contract work. The end reward might not be as good as you think either. Sure, you might get more money and a little more stability regarding income. But they can be very demanding. I went fully into supply contracts but ended them all apart from a couple of charities back in 2019. I would have needed to employ an extra person, partner with somebody or work 24/7.

Oh, and forgot to mention, some days can be pretty stressful. When two or three companies that you have SLA's with have emergencies on the same day. That's when it the real fun begins!!

Unless of course you are thinking of expanding your business to be more than a one man operation. In that case, ignore everything I just said.

And as the others have already stated, you will need some kind of professional indemnity.

 

[SkidMarkKing]

Think carefully about getting into support contracts since you are a one man operation. They can take a lot of your time. I don't know how busy you are right now. But you might have to decide between keeping your regular work or keeping the contract work. The end reward might not be as good as you think either. Sure, you might get more money and a little more stability regarding income. But they can be very demanding. I went fully into supply contracts but ended them all apart from a couple of charities back in 2019. I would have needed to employ an extra person, partner with somebody or work 24/7.

Oh, and forgot to mention, some days can be pretty stressful. When two or three companies that you have SLA's with have emergencies on the same day. That's when it the real fun begins!!

Unless of course you are thinking of expanding your business to be more than a one man operation. In that case, ignore everything I just said.

And as the others have already stated, you will need some kind of professional indemnity.

Looking to change to Hiscox, not sure if I need the "cyber and data insurance"?

I have given this client the option that I can go in quarterly and do checks etc but cannot offer a monthly contract with being a one man band.

Could be they use me for a year or two then move onto an MSP if really required.

It's prompt them as their insurance wants to make sure they are using MFA, backups etc.

My concern is they are quite laid back and if a client takes a laptop home and something happens they may come after me and say it wasn't secure enough?