As a tradesman, your job is likely to involve a certain amount of risk to you, your employees and the property that you are working on.
You and your employees could be climbing ladders and walking on wet surfaces on a daily basis and even if you make sure all the correct health and safety measures are in place, accidents can happen. Mistakes can also be made on the property itself, causing damage which you would be liable for.
What does tradesmen and construction insurance include?
Your exact insurance requirements will depend on your own specific trade but as standard, you tradesman and construction insurance package should include:
1. Professional indemnity insurance
You should take out professional indemnity insurance as part of your tradesman insurance package if you provide specialist advice or services. If you advise on the relocation of a beam and the the ceiling collapses, or you give incorrect advice and as a result your customer suffers a financial loss, this type of insurance will cover your legal costs if your customer claims against you.
2. Employer’s liability insurance
Employer’s liability insurance will cover you if an employee is injured at work or they develop an illness caused directly by their job. An employee could sue you for damages if, for example, they lost their balance and fell through a loft space. Employer’s liability cover would cover the cost of any legal fees or compensation.
3. Public liability insurance
Public liability cover protects you from claims made from a customer if you damage their property or cause them illness or injury as a result of your business activity, for example if a customer tripped over a cable, or some rubble fell onto their car while you were working on their property.
4. Product liability insurance
Product liability insurance covers you for damages if a product that you make or supply causes personal injury to a member of the public or their property.
5. Office insurance
Office insurance can be included as part of your tradesman insurance. It will cover all your office furniture, fixtures and fittings from damage caused by fire or flood, or loss caused by theft.
6. Business contents insurance
As a tradesmen you need the tools of the trade for your livelihood. If your equipment and tools are damaged or stolen, your business contents insurance policy will cover you financially, ensuring you can continue to work. Your commercial van insurance often won’t cover your tools, so make sure you don’t take any risks.