Starting your own business means having to sort out lots of legal things, food hygiene, registering with HMRC, registering with Southwark environmental health and, of course, business insurance. And what a minefield that is. As a newbie to all of this I wanted to get an idea of how much this sort of thing costs. I know what I need, public and product liability insurance but there are a whole host of other coverage that I might need too. To the interweb.
A few searches later I went on to the Money Supermarket website where they can compare quotes for you based on basic information that you provide. This turned up two quotes, one for £289pa and one for £307pa. Ok, so that is my ball park, right? I went to Simply Business, a similar comparison website but it specialises in business insurance and got a couple of similar quotes.
One of the pieces on information you have to provide is a telephone number, it’s one of the mandatory fields and you can guess why. Within 10 minutes of getting the quote on Money Supermarket I got a call from them asking if I wanted to proceed. I politely told them I was shopping around and would be in touch when I had made a decision. Next to call were Simply Business, I gave the same polite reply. However, they didn’t stop calling me for the next week and not just once a day it was at least twice a day. Eventually, after me ignoring them for a week they stopped. Don’t they know that I will now NEVER contact them again? At least Money Supermarket only called once. I know that this is someone’s job but they must realise how counter productive it is? No?
But, at least I had a number in mind for what I would have to pay, right? Again NO! One of my other jobs last week was to open a business bank account and after research NatWest came up on top (I’m already a NatWest customer which makes it all slightly easier). I had a meeting with a business advisor last week and as part of that they offer business insurance with 15% off for new customers. Result, I can get that £300 down a bit more. After about 20 minutes on the phone being asked many questions (will you be using asbestos, is there an ATM on the premises!!) I got the quote. £45, for the year! You could have knocked me down with a feather.
At first I thought that there must be something wrong but reading the policy it was the same cover that the £300 quotes were offering (give or take). After a few adjustments I took the cover out last week and even better there were no constant phone calls asking me if I wanted to proceed, they gave the information, allowed me to make my decision and were very helpful when I wanted to go ahead. Not sure what the moral of this story is but the internet is not always the best place to get good information! And NatWest were great!