Making sure you have the right amount of business insurance cover can be tricky. If you run your own business you’ll need to make sure your investment, your employees, your customers and your reputation are protected. Look for a policy that offers the following features:
Public Liability Insurance
Whether you’re looking for builders’ public liability insurance, plumbers’ public liability insurance, bricklayers’ public liability insurance or tradesman public liability insurance, we can help. Whatever trade you’re in, you’ll need protection if a job you’re involved in causes injury to another person. What about a leak that wasn’t cleaned up in time and a passer-by slipped and broke their leg? You could be liable and if the person decides to claim for damages, you could have to pay any compensation that’s awarded to them.
Employers' Liability Insurance
If you employ staff, then you’ll probably need to have valid employers' liability insurance. You are normally required by law to have this type of insurance cover to protect your employees and to protect your own responsibilities for their welfare. If an employee is injured using your business machinery for example, they can claim against you for compensation for their injury and loss of earnings. Could you afford the hit? Claims such as these can be very expensive so comprehensive liability cover is essential.
Optional Extra Cover
If you work in the trade industry, chances are you have expensive tools, equipment and machinery. Replacing the tools of your trade following theft or damage can be expensive so consider a policy that provides Tool Insurance. If you’re an independent tradesman, there are tailored construction contractor insurance policies that should combine all the cover you need.
What would you do if your business had to temporarily stop trading? What if your business premises, stock, plant and equipment were destroyed through fire or flooding? Check to see that your business insurance policy will cover you for the income lost during the time the business is on hold.
Your clients and customers are crucial to the success of your business so how would you cope if your negligence had an impact on them? What if your mistake meant that the client suffered significant financial loss? If you're found to have been negligent in your work, professional indemnity cover could help protect you from the cost of any legal expenses and damages awarded. Even if it's a spurious claim, there will probably be legal expenses involved in defending yourself.
Read more in our business insurance guides or get a quote now.