Professional Indemnity

Professional indemnity insurance protects contractors or individuals working under contracts against legal liability towards their clients for injury, loss, or damage, arising from his own professional negligence or that of his employees. Most professionals carry professional indemnity cover, as compensation sought by clients can sometimes be high enough to land them down in deep trouble. If you are a contractor, you should certainly opt for a professional indemnity cover to protect your business against compensation sought by your clients in the event of any unforced error has resulted in substantial losses by the client. Professional indemnity insurance will also cover any legal costs.

Income Protection Insurance - What benefits should you expect?

Contractor Income Protection

In a life policy, there is a set sum assured which is paid if you die. In a private medical policy the insurer pays the costs of treatment up to selected limits. In a health cash policy the insurer pays out pre set sums. An income protection plan / policy is completely different... read more

Coulson Pritchard - Articles

Freelance Insurance & Contractor Mortgages Articles

We have recently launched our new article section which comprises of various articles on Contractor Financial Services, Contractor Mortgages, Freelance Insurance & Business Insurance subject. Currently we are listing with 10 articles that also includes information about contractor pension, Income protection schemes available to UK professionals, tips on choosing contractor bank account.

Contractor Mortgages - Is Self Certification Right for you?

Self Certified Mortgages

If you are self employed, a contractor or freelance professional, have irregular income, earn income from bonus or commission payments or have multiple jobs, you're one of many people in the UK who know they can afford a mortgage, but will likely encounter difficulty getting a standard mortgage. Fortunately specialist products are available designed to meet your needs.

In the last few years, there has been a proliferation of new mortgage products which have been developed to meet the needs of a wide range of borrowers, some of whom may have formerly been excluded from the mortgage market altogether because they could not fulfill conventional criteria for verifying their income... read more

UK Housing Market - What can contractors expect in 2007?

UK Housing Market

Making predictions can be a dangerous game and if there's one topic that divides opinion it is the property market.

Last year, many of Britain's housing market experts called only modest increases for 2006, of between 1% and 4%. But it wasn't long before the London-led property revival saw a raft of revised forecasts.

Similarly, armchair pundits who had suggested doom and gloom were left stranded by reports that prices were rising rapidly. The general consensus among the major house price reports was that prices ended up rising by an average of around 9% in 2006... read more

Self Employed Mortgage and Self Certification Mortgage

Self Employed Mortgage

You're self-employed and you want a mortgage. Be thankful this is 2007 and not 1986, when scorn and derision would likely have been the response from lenders to your request. But attitudes, influenced by mortgage competition, change, and with the introduction of the self-certification concept some 15 years ago, that pariah of responsible borrowing - the self-employed - is in from the financial cold... read more

Income Protection For Contractors

Contractor Income Protection

Most banks and building societies are tied to a single provider, so you just get their branded deal. Banks make a lot of money by selling various income protection products, with a mortgage or loan. A few deals are constructed in such a way that you cannot separate the finance and protection. Most deals offer you some cover, which tends to be priced on the high side, and may not suit your individual circumstances. Some even make you pay for it if you do not opt out, while others will suggest it is part of the overall deal. In practice, in the vast majority of cases contractors have the freedom to look elsewhere in the market for a cheaper and/ or more suitable insurance...read more