WHAT IS TRADESMAN LIABILITY INSURANCE?
Professionals in skilled trade industries face several risks covered by tradesman liability insurance. There are several tradesman insurance policies, including public liability, employers’ liability, and tools insurance.
- Public liability insurance protects you if a client or a member of the public claims they’ve been injured or their property was damaged because of your professional services.
- Employers’ liability insurance covers you if someone is injured while working for you and seeks compensation.
- If your specialist equipment goes missing or is damaged, you can get replacements or repairs with tool insurance.
In this blog post, we’ll discuss choosing an insurer for your business, why you need it, and some tips for choosing one. We’ll also cover common questions regarding tradesman liability insurance policies.
WHAT IS TRADESMAN’S LIABILITY INSURANCE?
Tradesmen’s insurance provides specialised cover for the hazards and risks associated with working in a trade. There are varying levels of cover for legal costs, equipment and tools related to your work, and accidents involving you and your colleagues. It is a type of company insurance for experts in their area that includes optional extras based on the type of job you do, as well as cover for their tools, ongoing work, legal defence costs, and other key factors.
WHAT DOES IT COVER?
As mentioned above, there are several different types of tradesmen’s insurance policies that you can choose from depending on your needs and the type of business you run. To choose the right policy for your business, you’ll want to consider your business’s needs and which options will cover them the best.
For example, customers rely on your expertise and skill in your field, whether you’re a builder, plumber, electrician, or skilled tradesperson. There are often hazards associated with the jobs you take on. Commercial insurance can act as a safety net if things go wrong.
Below, we will look at how tradesman insurance can help in the following situations:
- Accidents: Should a customer be hurt while in your care or if one of your employees is injured on the job, they may be able to sue you for damages if the injury is your fault. This type of cover will protect you from financial penalties and legal expenses should you end up having to go to court to defend yourself against a claim by a customer who was injured on your property or during your service period.
- Illness and Injury: If you fall ill due to exposure to hazardous substances or if an employee becomes sick due to something that happened on the job, your business may suffer from losing the staff member’s services while they recover.
- Damage to Machinery or Equipment: Tools and equipment are necessary for carrying out your trade, and they are also expensive and hard to replace or repair if damaged. Tradesman’s equipment insurance covers the cost of repair or replacement of these items if they are lost or damaged during a job or through no fault of your own.
The different things covered can vary depending on the level of cover you choose. Tradesman insurance can also cover: consulting, quoting, working abroad, working onsite and public contracts, private jobs and many more.
WHO NEEDS IT?
Professionals in a wide variety of fields are covered by tradesman insurance. Anyone who does any kind of work for hire should consider getting tradesman insurance cover to help protect themselves from financial loss if something goes wrong.
Depending on the type of business you run, some types of businesses are required by law to have this type of protection in place; for example, companies working in gas and water services must have contractors’ all-risk insurance and their employees must hold specific certificates to work in these fields. Local licensing authorities enforce these laws, varying from one area to the next.
So if you are wondering who needs to be covered by tradesman liability insurance, here are some types of businesses that should have it but are not limited to: building workers, painters and decorators, plumbers, carpenters, and electricians, plus many more.
HOW DO I FIND OUT MORE ABOUT TRADESMAN’S LIABILITY INSURANCE?
If you want to learn more about tradesman liability insurance, you can contact a member of our friendly team, and they will be more than happy to answer any of your questions.
You can also visit our dedicated Tradesman Liability Insurance page for more information.
And of course, don’t forget that the internet is a great resource for finding out more about a topic like this.
SOME TIPS FOR CHOOSING THE RIGHT COVER
Here are some tips to help you choose the right cover for your business needs:
WHO CAN HELP ME?
Getting quotes from several insurers can help you choose the best policy and price to suit your needs. This can also help you compare policies and premiums from different insurers to help you make the right decision for your needs.
Remember that even if an insurer offers the same type of cover as another insurer at a similar price, it doesn’t necessarily mean that it’s the right policy for you and your business. Always check the terms and conditions before you decide to ensure you’re getting the cover you need at a price you can afford.
Your professional advisor can also help you choose the right type of cover for your individual needs and budget. They can also help you choose the right level of cover for your profession based on your specific risks and the work you do. This can also help to reduce your premium costs as you may only need the minimum level of protection for your line of work.
It’s important to have the correct level of cover for your business, as you don’t want to find yourself in a situation where you don’t have enough protection should something unexpected happen. It is important to keep in mind that if you do not currently have professional advice about this type of insurance policy on your staff payroll, you should consider getting some to ensure your business is adequately protected in case of a claim.
If you would like more information about how we can protect your business with commercial insurance, one of our helpful advisors can assist you in selecting the type and level of tradesman liability insurance that will best suit your needs.
WHAT IF I NEED MORE INFORMATION?
If you still require more information regarding this topic, please do not hesitate to contact one of our helpful advisers, who will be more than happy to answer any questions you may have.
Alternatively, you can contact us using the forms on our website for requesting a quote or for questions, queries, and general enquiries.
WHY CHOOSE US?
We understand that you want an insurance provider who will offer good value for money and provide great levels of service simultaneously. That’s why Bruford & Vallance Insurance Services Limited has offered professional indemnity insurance cover to a wide range of tradespeople since 1978.
We offer a range of policies to suit different budgets, including policies tailored to meet the needs of individual tradespeople and businesses working in the building and construction industry. Our friendly team is here to help you find the right policy to suit your needs.
Tradesman liability insurance can protect you if something goes wrong during construction projects, such as when workers get hurt at your job site. You should always ensure that all parties involved have adequate cover before starting any project.
We hope our blog has helped answer your questions about tradesman’s liability insurance! Please contact us today if you need any further help or advice.