When you start up in business you will need insurance cover. Contact an insurer and explain exactly how your business will operate. They will then be able to recommend what cover you should have, which might include:
- employer's liability
- public liability
- premises, premises contents and stock of materials
- goods in trust
- goods in transit (for example antiques and materials being collected or delivered)
- business interruption
- professional indemnity
- motor insurance (for delivery vehicles)
It's very important to ensure that all items left with you for restoration are fully covered at all times. From time to time you may need to extend your cover if you are working on a particularly valuable item.
Premiums may be paid in a lump or they may be paid in instalments. Your insurer will be able to advise you of the amounts due - enter them in the months when you will pay them.
Full members of the British Antique Furniture Restorers' Association (BAFRA) benefit from access to favourable business insurance rates. BAFRA requires accredited members to hold public liability and professional indemnity insurance.