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  • Cycle industry insurance – manufacturers/direct sales – who do you use?
  • Speeder
    Full Member

    Before I go compare (see what I did there?) I’m just wondering what PI insurance cos you industry guys use? (and a rough cost would be good if you’d be so kind).
    We’ve designed a race BMX which we’re going to be retailing via direct and shop channels worldwide.

    Cheers

    Gary

    woody74
    Full Member

    You will need a lot more than just PI insurance. PI is professional indemnity so this covers you for advice and knowledge. If you were just a designer but not making or retailing then PI would be needed. So this is often for architects, accountants, etc.

    If your actually making and selling then you will need Product liability, Public liability as a starter. It also depends on where you are selling. If your shipping to the US then this can make getting insurance much harder.

    We use Bluefin Insurance broker as my wife works on the PI side and they came up with the best price and benefits (free cyber insurance). Drop me an email (in profile) and I can pass your details on. They can basically put any insurance package together. They for instance worked with Hiscox’s insurance for us to get better US cover.

    Insurance can take an age to work out so it is good if you can get a broker to sort it out for you. Sometime it is better to not look at exactly what you are doing. So you would just be manufacturing sports equipment or manufacturing consumer products. We found that often if you dont fit into one of their drop down lists then it is really really hard to get insurance.

    Also have a look at Simply Business as they cover quite a few business types.

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