Policybee / Subcontracting


#1

Well it looks like I’m going ahead with setting up over the next couple of months :sweat_smile:
After a lot of looking into areas, it seems doable, so I’ll be setting everything up over the next few months and start in April.

However, one area I was wondering if you could advise on. Insurance will be something I’ll be setting up near the end. as I will still be working in my current Pt job for the time being while I test the water of being a VA, I was considering doing subcontracting for now.
I’m guessing some temp clients would give me some honest feedback on what I need to work on but also let me dip my toe in slowly.

I am looking into Policybee - I’ve chosen Professional Indemnity (£1.5m)
Public Indemnity (£1m)
Cyber Insurance

However, I had read somewhere there is a “subcontracting insurance” to consider. I’m not seeing this anywhere and unsure if the policybee insurance covers this or is this an area for the other side to consider.

I’m terrible for overthinking the worse outcomes when it comes to making sure I’m covered for all legal issues that can arise. Think this was the area I was worried about which stopped me pursuing this venture quicker :woman_facepalming:

Thanks.


#2

Subcontracting insurance usually relates to when you hire a VA to work for you, so the insurance not only covers your work but also their work. PolicyBee will be able to advise whether or not their policy covers this (from memory, I don’t think it does, but there are lots of insurers like Hiscox or SimplyBusiness that will include this). So only an issue if you intend to hire a VA yourself to do work for clients.

My views on this differ a bit from most other people’s: The chances of a lead VA being able to claim against a subcontractor’s insurance is pretty slim IMHO. The amounts always differ, we have potentially big claims to cover which wouldn’t be covered by regular VA insurance, it’s going to take much longer to sort, it’s two lots of insurers to wrangle with… I just cover all the subcontractor’s work under my own insurance.

However you’ll still want insurance to cover your own work and working directly with clients.


#3

Thanks Caroline,
I wasn’t too sure if this was another insurance to consider but was not too sure if this applied to myself.
Just trying to make sure I have all areas covered.