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All Tradespeople Require Insurance, But Which Protections Are Essential?

Estimated reading time: 2 mins

Tradespeople in the UK and around the world have to protect themselves against many different situations. Failure to do that could mean they find themselves in trouble with the law. That is especially the case if an accident happens while they’re working on a site. The issue is that many people moving towards those careers have no idea where to start. With that in mind, there is a list on this page that should help to point everyone in the right direction. All tradespeople and construction specialists will require the types of insurance mentioned below. So, individuals need to ensure they have the right protections in place before they start to offer their services.

Public liability cover

In its simplest form, public liability insurance protects tradespeople from claims made by members of the public for incidents that relate to dangerous business activities. For instance, a worker might visit a residential home to perform some maintenance work. The person who lives at the property could become injured in some way due to the specialist’s activities. If that happens, and the person doesn’t have the right cover, they could find themselves in a terrible situation. The courts could award compensation to the member of the public, and the tradesperson would have to foot the bill without the right policies in place. Liability insurance protects tradespeople from the cost of:

  • Injury case compensation
  • Damage to property

Other essential protections

There are a few other types of insurance cover that tradespeople will require to keep themselves secure. They include:

  • Financial Loss
  • Products Liability
  • Legal Expenses
  • Employer’s Liability
  • Business Contents
  • Professional Indemnity

Tools and equipment cover

Tradespeople will rely on their tools and equipment to earn money. So, it’s vital they get those items insured are soon as possible. Most package insurance for constructors and similar professionals should include that element. Failure to purchase the right policies could mean the professional has to spend a lot of money if something goes wrong. For instance, those without the correct protections might have to:

  • Pay for the replacement of damaged tools
  • Pay for the replacement of stolen or lost tools

Most specialists should offer packages will all those benefits included. However, it’s sensible to read the small print to ensure the deal covers all the bases. It also makes sense to shop around for the best prices. Some companies charge more than others, but there is always room for negotiation. Just obtain multiple quotes and then use those figures to drive prices down from other insurers.

Anyone who plans to enter a profession of that nature should have benefitted from the advice on this page. Insurance cover won’t break the bank in most instances. However, people who don’t have it in place are breaking the law. It is only a matter of time before something goes wrong and those individuals will find themselves in a lot of trouble. So, make an effort to understand the law, and get the best insurance cover as soon as possible. Those who do that stand every chance of success in the future.

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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