What is included on a Tradesman Insurance policy?
Every policy is different because it should reflect the precise exposures that your business faces. It could be that you work at height or depth as a scaffolder or a groundworker. It might be that you use heat and welding equipment, or own or hire in specialist plant equipment. A tradesman insurance policy is a packaged insurance which can be designed to include everything you need for your business – from liabilities through to personal tools cover. There are a number of core covers that you can typically expect to find on a policy, however:
Employers Liability for tradesmen. If you have anyone working under your control – even if just casual labour or part time, you are required by law to have a minimum of £5m in Employers Liability insurance in place.
Public Liability Insurance. While not a legal requirement, it’s often a contractual obligation to have Public Liability Insurance in place. It protects you in circumstances where a member of the public claims that they have been injured or suffered a loss as a consequence of your work.
Product Liability Insurance. Where you supply products that you install – be it a window or an alarm system – you could be held responsible if that product is deemed to have caused injury, illness or suffers property damage. Product Liability Insurance is designed to protect you from compensation costs and can also protect you where the product is faulty.
Contractors All Risks. This protects you against damage or destruction of works in progress, as well as theft or damage to equipment and tools, cover for any temporary site structures, and insures hired in plant and equipment.
Tradesman Legal Expenses. Contractual disputes happen. So do tax disputes. Where someone or an organization makes a claim against you, legal fees can soon mount up – even if your are subsequently proven innocent. Legal Expenses cover protects you from costs in the event that a claim is brought against you.