Tradesman Insurance
What Is Tradesman Insurance?
Tradesman insurance is for tradespeople in general. It is liability insurance designed to protect you financially against the extra risks faced by those carrying out manual jobs on site or at a client’s property. Without the correct tradesperson insurance, unexpected events could leave you significantly out of pocket and even leave your business unable to trade for long periods.
It is crucial to seek independent advice to make sure you get the correct business insurance and cover limits to suit the way your business operates.
Alexander Swan will work together with you so that we can build a tailored, all-encompassing policy to perfectly match your business and the risks it is exposed to.
Unlike dealing directly with an insurance company, Alexander Swan has access to multiple insurers and their wide range of policies.
This broad reach allows us to present you with a range of options, increasing the likelihood of finding the most competitive rates and comprehensive coverage. We are with you every step of the way, from helping you choose the right insurance through to fully assisting you should you ever need to make a claim.
What Does Tradesman Insurance Cover?
Tradespeople are in contact with the public and working in customers’ properties or onsite. Having the right insurance not only protects your financial position, but also shows that you’re professional and really care about your customers and the projects you work on. Important considerations are as follows
- Tradesman Public Liability: Public liability would cover the legal costs and compensation owed to a third party if they claim against you for injury or damage to their property.
- Employer’s Liability Insurance: If you employ staff, employer’s liability is a legal requirement to protect against injuries caused to an employee whilst working.
- Personal Accident Cover: This type of cover provides a lump sum in the event that you are injured as a result of an accident, leaving you unable to work for a certain time period.
- Professional Indemnity Insurance: If you offer advice, instructions, design or services to clients, professional indemnity protects you against claims for errors or professional negligence.
- Plant and Tools Insurance: To cover the repair or replacement of damaged or stolen tools and equipment.
Why Do Tradespeople Need Specialised Insurance?
Whether you are a one man band or a large construction company, your business needs specialised tradesperson insurance to protect it against potential claims due to accidents, theft, damage and other events that without the right cover could cause you significant financial loss.
If your business is responsible for a construction site or working on high value, complicated projects, then you may need a special construction insurance known as contractors all risk insurance. This is important to protect you from the more complicated risks such as damage or loss of the works in progress, third party liability arising from the project, and cover for subcontractors.
For particularly high risk trades, such as roofers, scaffolders, and groundworkers, it is especially crucial to seek professional and expert advice with regards to high risk liability insurance.
With our significant expertise and product ranges in this market, we are perfectly placed to guide you through the process of protecting you and your business no matter how big or small.
Tradesman Insurance FAQs
Whatever your trade, from nail technician or hairdresser, to plumber or gardener, tradesman insurance is vital to protect your business from unexpected events and keep you trading should things go wrong. Whatever your trade, it is important to review your insurance regularly to make sure you have adequate cover in place. This can protect your business against potentially large financial losses in the event of claims against you, or events such as damage/theft of your tools or equipment.
The cost of tradesman insurance will vary depending on the type, size and location of business and the way it operates. It is essential to speak to an experienced adviser such as Alexander Swan to ensure you have the correct cover in place.
There may be legal obligations where sole traders must have particular insurance policies in place in order to be compliant, such as employer’s liability insurance or vehicle insurance to cover business use. There may also be certain clients, contracts or regulatory and professional bodies that require insurance. Regardless, sole traders can be at risk of losing large sums of money or even being left unable to trade if things go wrong, so having the right tradesman insurance ensures you’re protected for a range of scenarios.
