Why you need it
- Business insurance can be particularly important for tradesmen, as you're often risking injury
and damage to your assets through the type of work you undertake. - As a tradesman, you may also risk damage to a third party property, injury to a member
of the public or the injury of an employee. - It's likely you'll have specific business insurance needs, so there's a special type of cover
designed just for you! - Tradesman insurance is often sold as a "package" of insurance including different elements
of cover, such as liability insurance and protection for tools and equipment.
What does it cover?
The amount of cover you require will depend on the size and nature of your business.
Different providers will offer different levels of liability cover as standard, often with
the option to increase the cover if required.
Tradesman Public Liability Insurance
If a member of the public is injured as a direct result of your business activity,
you could potentially face compensation claims. For example, if you fitted a roof
and a loose tile fell off and hit a passer-by, you might be held responsible and
sued by the injured party. Public liability insurance could help you cover any
compensation costs.
Tradesman Employers' Liability Insurance
If you employ other workers as part of your business, there is usually a legal
responsibility for you to have employers' liability cover. This could cover your
business if an employee is injured or becomes ill as a result of their work.
All employers must take out this type of insurance, although there are a few
exemptions (such as if you are the sole employee of your limited company
and also own at least 50% of the share capital in the company). It's likely
you'll need this cover even if you're using self-employed contractors.
Tools Cover
Specialist equipment is no doubt essential to your business. Tools cover can
often be added to your liability insurance to help financially protect you against
loss, damage and theft of your work items.
Who's it for?
A whole range of different trades can benefit from tradesman insurance and your specific work
circumstrances will affect the type of cover you need. For example, you'll only need employers'
liability insurance included if you have people working for you. This may be the case even if
you're using self-employed contractors.
Typically, tradesmen will be dealing directly with the general public and often working at a
client's home or premisis. This is why sufficient public liability cover could be essential.
Here are some examples of trades normally covered by this type of insurance:
Know-how
Take a browse through some of our helpul articles about tradesman insurance:
Electricians' Public Liability Insurance