It's likely that any existing insurance policies would be impacted if you make this change. The first thing to do if you're considering this is to contact your insurance provider and explain your plans. You may find certain policy adjustments need to be made to reflect the change in legal structure. The policies might need to be moved into the name of the limited company too. You may find the cost changes too, as insurers may assess the risk between a sole trader and a limited company differently. It's likely your cover needs could change too.