Nemesis Posted March 24, 2020 Share Posted March 24, 2020 Hi all, I hope you're all staying fit & well. I'm at home and for the first time in 20 years unemployed, a freebee situation gifted from the Chinese, but I'm lucky, I have no mortgage and no debts, so bl**** lucky really. The sage is a nurse manager, in the past they used to be called 'sister' (in a non religious way) that makes our household pretty much front line, so we're going to see where the whole thing goes. Looking to the future, when the situation with the Virus has played out I'll be looking for something to do..... and it's not got to be boring, so once liberty is restored I'll start looking, I might even have a mooch at buying a single car transporter, I can drive up to 7.5 tons and can tow a trailer giving me a maximum all up weight of 8.25 tons, I've got a Digital Tacho card and have a valid CPC Driver card so no problem driving commercially, but cars are the only thing I'm going to be moving if I go down that route. However that set aside, when we get the nod to start getting back to normal I'm pottering about at home and have a trailer that the ASBO sits on. If anyone needs a loan of said trailer to move their Westie they are welcome to use it, if you don't have a tow bar and as long as you cover the diesel for my car I'd be happy to help. I don't think beer and wine can be translated to 'hire or reward' so should any be left in the boot it would easily find a new home. So.... any suggestions for make and model of transporter ? I'd be looking for a payload of 2.5 to 3.5 tons (I think). Stay safe ! Nem......... 6 Quote Link to comment Share on other sites More sharing options...
Man On The Clapham Omnibus Posted March 24, 2020 Share Posted March 24, 2020 Sorry to hear about the job... 😟 Quote Link to comment Share on other sites More sharing options...
Nemesis Posted March 24, 2020 Author Share Posted March 24, 2020 12 minutes ago, Man On The Clapham Omnibus said: Sorry to hear about the job... 😟 Thanks, it's no biggy for me, as I said I'm in a very lucky position, as a freelancer I'd have fallen between all of the cracks in the governments best efforts to help, and to be honest the best thing that could have happened was a contract termination rather than being stood down. I am now officially unemployed so at least I'll get some beer tokens and NI contributions sorted. Of course I won't hold a grudge against the bean counters...... well not longer than a decade or so ! Nem..... Quote Link to comment Share on other sites More sharing options...
Blatman Posted March 24, 2020 Share Posted March 24, 2020 Not sure if it can be had for the selfl employed but one of the things I took out was a form of salary insurance with my bank. In the event of me becoming unemployed it pays all current direct debits and standing orders. I didn't know this was even possible until a few years ago and I signed up straight away. Thankfully I'm not (yet...) stood down, and I do need to check the small-print 'cos it's insurance after all, but it's a nice thing to have in the back pocket. Quote Link to comment Share on other sites More sharing options...
Jim RS Posted March 25, 2020 Share Posted March 25, 2020 13 hours ago, Blatman said: Not sure if it can be had for the selfl employed but one of the things I took out was a form of salary insurance with my bank. In the event of me becoming unemployed it pays all current direct debits and standing orders. I didn't know this was even possible until a few years ago and I signed up straight away. Thankfully I'm not (yet...) stood down, and I do need to check the small-print 'cos it's insurance after all, but it's a nice thing to have in the back pocket. I was continually offered what they originally called keyman insurance changed later due to sexist title. Although good to have for essential persons it was prohibitively expensive and unless you were actually screwing your customers difficult to justify. Expect there is also some clause written down to exclude the present predicament. Quote Link to comment Share on other sites More sharing options...
Blatman Posted March 25, 2020 Share Posted March 25, 2020 27 minutes ago, Snags said: I was continually offered what they originally called wellman insurance changed later due to sexist title. Although good to have for essential persons it was prohibitively expensive and unless you were actually screwing your customers difficult to justify. Expect there is also some clause written down to exclude the present predicament. I had a feeling premiums for the self employed might be high. I'm PAYE so I pay about 36 quid a month. And yes, I will be checking the small print... Quote Link to comment Share on other sites More sharing options...
Jim RS Posted March 25, 2020 Share Posted March 25, 2020 3 hours ago, Blatman said: I had a feeling premiums for the self employed might be high. I'm PAYE so I pay about 36 quid a month. And yes, I will be checking the small print... Yes they were quoting 5 figure annual premiums to start and adjusted according to how much payout you were looking to achieve. Quote Link to comment Share on other sites More sharing options...
Blatman Posted March 25, 2020 Share Posted March 25, 2020 Yikes! But is that salary insurance? All I'm doing is covering my direct debits and S/O's. Quote Link to comment Share on other sites More sharing options...
Exitus Posted March 26, 2020 Share Posted March 26, 2020 Salary insurance is the way to go, if you can. My Dad was self employed (through his own Ltd Coy) and paid for the insurance for about 15 years as he was the only earner in the house. When he fell ill and had to retire, the insurance payed his full salary until state retirement age - about 6 years if I remember rightly. Worth every penny. Quote Link to comment Share on other sites More sharing options...
Jim RS Posted March 26, 2020 Share Posted March 26, 2020 15 hours ago, Blatman said: Yikes! But is that salary insurance? All I'm doing is covering my direct debits and S/O's. Problem with being being an owner of a small company is that most times the whole business revolves around you, so if your incapacitated and cannot promote/control the business the whole lot collapses. This then entails lots of costs, wages for staff, premises, servicing loans and the list goes on running into 10's of thousands within a very short time, so it is not just your remuneration that has to be calculated(just wage cover is pointless) If you are purely self employed on your own and working without separate premises the costs and insurance cover is easier/cheaper but small business/self employed with staff is a minefield and insurance companies know the risks. Quote Link to comment Share on other sites More sharing options...
Alan France Posted March 26, 2020 Share Posted March 26, 2020 We had “keyman” insurance because some of the big customers built the requirement into the contracts. It was expensive and only triggered under fairly restricted circumstances. Thankfully we never had to use it. I really feel for the business owners and self employed on the forum, it’s very difficult to make the right choices. Our old business had ongoing support contracts which covered some of our costs. That helped during the various financial blips but they were nothing like this. We sold our business years ago, not sure how we could have coped with this. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.