Working as a tradesman is a difficult and dangerous job – whether you are a plumber, builder or electrician there are many potential hazards in this job that means that insurance is very important. Insurance covers you for expenses you might not be able to afford to pay if an accident did happen, damage to a third party’s property such as a broken pipe or trip or fall could result in injury and legal costs.
Why tradesmen need insurance?
An accident could occur to you or a third party or damage could be done to a property caused by an accident when working on it so all situations needs to be covered. It doesn’t matter if you are self-employed or an employer of others insurance is important to both. With all the ‘no win, no fee’ offers in the UK market today one mistake can easily be jumped on and ruin a reputable tradesman’s career.
Different policies of tradesman insurance
There different tradesman insurance policies and plans. The public liability insurance is what will cover you if you do damage to a property or cause harm to a third party and that is generally a standard amount of £5 million. Employer’s liability is what covers any tradesman hired, if anything happens to them or if they cause any damage whilst in your employment. Tradesman injury and illness insurance this will provide regular income while you recover from an illness or from an accident that costs you whilst you are not working. Other additional insurance such as tools insurance can be purchased -if you have expensive tool and equipment theft or damage means you cannot work so with insurance this will let you get replacements or compensation so there is no interruption to your business.
Don’t…Think insurance is too expensive to bother with! In the UK market most people will only hire people who are properly insured. So by not getting insured you are limiting yourself to the amount of work open to you straight away. Furthermore if you are an employer of other tradesmen then insurance is not an option it is a must. Like all insurance policies make sure know exactly what you are and are not covered for, such as with the Tools insurance, sometimes if the tradesman has left it out in the open and it has been stolen then an insurance company will not pay out.