Certain trades can present various risks that can have an affect on you, your business, your employees and the public. To make sure that you are covered financially whatever happens, it is important to have a suitable insurance policy in place whether you are a builder, plumber, electrician, roofer or work in any other trade.
Why you may need tradesman insurance
When working in any trade, your main focus in on providing a high quality service to your customers while ensuring the smooth running of your business. Although no one wants to think about the possibility of things going wrong, problems can occur in any trade that can seriously affect the running of your business.
Rather than running your business with the constant threat hanging over you that a minor mistake could have financial consequences, take out an insurance policy that covers you financially for all of the most common risks associated with your trade. Then you can put all your focus on carrying out your trade to the best of your abilities.
What does it cover?
Tradesman insurance provides cover for a wide range of scenarios. However, it differs depending on the provider and the policy. These are some of the things typically covered on a standard policy:
- public liability, products liability and employers’ liability insurance are often included in tradesman insurance, but they may also be optional because you may not require all of them;
- you may depend to a large extent on the tools of your trade, and an insurance policy may cover these along with various materials you need insured;
- professional indemnity insurance can also be included, which can provide cover for mistakes that can lead to a claim from a customer;
- plant cover may be provided to cover your premises, but you may only want this if you are the owner of the premises;
- if you use a vehicle to get around, such as a van, you may want vehicle insurance included on your policy;
- goods in transit cover is often included for transporting your goods from place to place;
- you may also be able to get cover for contract works;
- personal accident cover may be included if this is something that you require.
Things to look out for
As with any type of insurance policy, it is important that you find a policy that provides a suitable amount of cover for your own situation. For example, you may not require vehicle insurance or plant insurance on your policy, so avoid paying for anything that you do not need.
Various factors may affect the premium that you pay. Not only will premiums differ between providers, but you may find that it is affected by the size of your business, the amount of employees you have and the type of trade that you carry out.
You may also find that a discount is provided if you have not made any claims in the last few years.
Get cover for your trade
Tradesman insurance aims to provide cover for situations where problems can occur in your business. Rather than worrying about these possible situations causing serious disruption to your work, consider taking out a suitable insurance policy and focus on your work knowing that you are fully protected for every eventuality.
