Insurance can be extremely important for contractors. Large losses coupled with inadequate or poorly advised cover can cause your business to ultimately be left holding expensive rectification and damage bills. It is important to get the right advice and to take out adequate cover to protect your business from these uncertain and unpredictable events.We all know that accidents happen,
Lets get peace of mind that your are covered correctly and competitively going forward.
When you’re putting together your trade or construction insurance policy, your core cover is going to be public liability insurance. It covers you if anyone claims compensation from your business because they’ve been injured or their property’s been damaged. For example if you leave your tools out while you’re working at a customer’s house and they trip over them and suffer an injury, or if you’re working on site and accidentally drop a brick that damages a car parked below, you could face a compensation claim. In these scenarios your public liability insurance could pay the legal fees and compensation costs, up to the limit of your policy. We offer up to £10 million of cover.
You can also cover your tools in case they’re stolen or damaged by buying tools insurance, and you can add buildings insurance if you have a business premises. Don’t forget that employers’ liability insurance is usually a must-have if you’ve got any employees.
If you are undertaking the task of sourcing your insurance yourself i.e online then you are pretty much on your own in wading through the complexities of the policy wording. In the event that a loss arises it will be Policyholder Vs Insurer.
If you are utilising the services of an Insurance Broker or Advisor they have certain duties to be highlighting to you significant areas and exclusions within the cover, you also get the added protection that they should assist you in the event of a claim arising.
We cover over 1,000 trade types, including most types of tradesmen: from stonemasons to dry-liners, from rendering contractors to partitioners, from ductwork installers to shuttering carpenters. Just use the trade selector on our quote form to type in or select your trade.
We have over 80 years collective experience and relationships with Construction underwriting specialists which have the capacity and understanding of the industry to write and place any construction risk.
The insurance you need will depend on your specific type of business and the individual risks it faces, but these are popular covers for tradesmen:
To comply with the law, employers’ liability insurance needs to cover:
It is important to note, however, that the law extends not only to those in full-time, paid employment, but also temporary staff, people on work placements and students. Volunteers, advisers are also included within the provisions of the Act. Need an employers’ liability insurance quote? Then please contact us today – we will be only pleased to help!
Public liability insurance usually comes up first when it comes to tradesmen insurance, this cover can protect you if you’re sued because someone is injured or their property is damaged. Moneycornershop.com has a panel with the capacity to offer between £1 million and £25 million in cover, to protect you against legal fees and compensation costs.
The Drainage Industry is susceptible to very large losses arising from a number of different events for example; A Van being stolen from outside an operatives house overnight fully laden with a built in jetter fitted to the vehicle worth £12,000, plus the CCTV Drainage Kit system including cameras and screens and handheld controls worth another £10,000 as well as the van itself which was worth £20,000 – total loss of £42,000. Or perhaps a hole that you have dug for drainage which has insufficient signage to warn a member of the public who subsequently falls down or a member of the public alleges a manhole cover wasn’t replaced correctly and that they tripped over it.
Using a Specialist Insurance Provider allows the contractor to know that they are dealing with someone with sufficient knowledge of their industry as well as specific knowledge of the right Insurance markets to allow the right policy and cover to be arranged at the best price.
It would be wise to try and use a specialist broker who understands your business and the processes you are using as well as the intricacies of the covers required and the details and specifics of the policy wordings. An independent broker will also be able to carry out a market exercise for you, to obtain the right cover at the best price.
We can provide specialist covers for all types of scenarios, such as:
EMPLOYERS LIABILITY &
PUBLIC / PRODUCTS LIABILITY
TAILOR MADE TO YOUR COMPANY NEEDS
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