Just buying my first ever property

[WaterTight]

Which subsequently becomes my first ever significant asset.

Which made me think about being sued.

I have Pub Liab insurance. Should this be sufficient to not worry (unduly) about accidentally burning down a house because of a moment of absent mindedness? Or do I need some other additional insurance?

Looked into Professional Idemnity insurance, sounds like more for bad advice which seems less of a concern given I mainly do small maintenance.

The other option would be to become a limited company but if the sole reason is the protect your house in the event of being sued over ruining someone elses I'm hoping this would be OTT and Public Liability insurance would suffice.

Thoughts?

Thanks

 

[king of pipes]

Never think like that water tight just dont take any risks with hotworks theres always other options i have public liability up to 5million and never ever take risks and am super conscientious on all i do cheers kop

 

[WaterTight]

You got to think like that haven't you? To presume you could get very unlucky no matter how careful you are and check that you have all the cover you need to guard against losing everything if the unthinkable happened? Was just wondering if Public Liability is all you need if the worst conceivable thing you could be worried about is half destroying some fancy house with water/fire.

 

[ShaunCorbs]

We have both 5 and 10mil costs about 1200 a year which isn't too bad

 

[king of pipes]

You know best bud cheers kop

 

[quality]

We have both 5 and 10mil costs about 1200 a year which isn't too bad

You say we! or is that the company you work for ?

 

[ShaunCorbs]

You say we! or is that the company you work for ?

Company I work for

 

[oz-plumber]

Hey Pal,

Just go and see someone and get some Professional Legal advice.

Check you insurance - they may offer millions on Public Liability, but only offer so much per claim - per property.
Don't want to see you paying off the offset of your mortgage, after the forced sale of your property, while living out the back of your vehicle.

 

[Old Account]

Company I work for

I thought you work for yourself in the name of your dads company ?

 

[ShaunCorbs]

I thought you work for yourself in the name of your dads company ?

Nope