Tradesman Insurance

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What is Tradesman Insurance?

If you are a tradesman, you will know that there are always dangers and risks which you have to take when you accept a job. Tradesman insurance will provide you with protection against injury, accident, damage or other legal action which may arise from any work carried out by you as a tradesman.

Most Tradesman Insurance include the all-important public and product liability as well as employers liability. For certain trades, it is not only very beneficial to have tradesman insurance it is a legal obligation.

Which Trades are Covered by Tradesman Insurance?

Most tradesman work on a self-employed basis. The range of trades covered by most tradesman insurance is huge. You will easily be able to find an insurer who will be happy to provide you with a quote whether you are a plumber, electrician, builder, carpet cleaner, chimney sweep, floor polisher or window cleaner, shopfitter, video installer, glazier, gardener or vacuum cleaner repair person.

There is a special insurance for builders as the building industry has quite specific risks that may not be prevalent in other types of trades. There is also a special type of insurance available to sole traders.

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Builder Insurance

It is well-known that builders are exposed to more risks than other types of workers. Building sites are notoriously dangerous and many builders have met with accidents or even death while at work. The building industry is also more vulnerable to changes in the economy. It is therefore vital that, whether you own a small building business or a large-scale company, you should be adequately covered by the right type of builder insurance.

If you do not have the correct type of builders insurance and should a injury happen to one of your workers or even a member of public who happens to be on site, it is possible that you may lose your business if the claims made against you are successful.

As with tradesman insurance, make sure your builder insurance provides employers liability. This will cover your legal liabilities should one of your employees try to make a claim either for injuries or illnesses that they may suffer as a result of working for you. Public liability will also provide cover if an employee or even a member of the public attempts to take you to court for negligence of breach of duty.

Sole Trader Insurance

Sole traders have to carry the full burden of responsibility when it comes to their debts and liabilities. As such, it is necessary for there to be a special type of tradesman insurance designed or sole traders with their specific needs and legal obligations.

Depending on the type of business you own as a sole trader, it is important to assess all your risks carefully to ensure you are able to fully protect your personal assets, particularly your home, should your business go bust.

What are the Benefits of Tradesman Insurance?

If you run your own business as a tradesman, you will understand that any business is vulnerable. The main benefit of taking out the correct tradesman insurance is that you will be able to just concentrate on doing a good job instead of worrying about how you would manage should a disaster or accident occur. Having the right tradesman insurance could save you and your business from bankruptcy.

Types of Insurance Available

There are various kinds of insurance policies offered on the market today which are designed to suit the many different trades. In order to ensure you have the right policy, it is important that you make an accurate assessment of your businesses risks. Most policies have the following as standard, but ensure you check before buying your insurance policy:

Employers Liability
As an employer, you are legally responsible for the health and safety of all your members of staff. This option will ensure you are covered if any employee is injured or falls ill while under your employment. This will also cover you for any fatal accidents. Make sure you have the right amount of cover to cover any eventuality - a figure of £10 million is not unusual.

Public and Product Liability
Public liability provides cover for damages and costs that may be incurred from death, injury or damage to property caused to members of the public by any work carried out by you or your business. It can also provide cover for events such as poor or dangerous workmanship, professional negligence and damage to contract workers.

A good policy will cover you against damage to your customer’s homes while you carry out work or make repairs. Product Liability will cover you for damage or injury caused by faulty devices that you or your employees use during the work.

Tool & Vehicle Insurance Cover
This provides cover for damage to, or theft of, tools and equipment that are indispensable to the operation of your business. Make sure the vehicles you use for your trade is properly insured.