The Importance Of Tradesman Insurance

By Author: Gareth Hoyle
Total Articles: 675
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If you are a tradesman such as a builder or plumber, it is likely that you will be put in a risky situation at some point in your career. Not only this, but your actions could also be responsible for the safety of those around you. As well as this, you will probably be self employed. Self employment can be a wonderful thing but it does bring with it some risks which are not present when working for a company. For these reasons, it is extremely important that you should take out a tradesman insurance policy, which will ensure that you are protected should the worst happen.

Types of Tradesman Insurance

There are two main types of tradesman insurance. These are:

* Tradesman public liability insurance
* Employer’s liability insurance

If you employ any other people in your business you will need employer’s liability insurance. This will ensure that your staff are covered whilst working for you. However, if you do not have any staff, you will simply need to purchase public liability tradesmen insurance. This will ensure that you are covered whilst gong about your everyday business. ...
... This is particularly important in the litigious society we are now living in where compensation claims are at a record high. Many tradesmen would not survive if such a claim was made against them.

What Does Tradesman Insurance Cover?

All tradesman insurance policies are different but there are a few things which you should certainly ensure are covered by your tradesman insurance policy. These include:

Loss Of Income

If you are self employed, you will know how hard it can be if you become ill. Unlike employed people, the self employed do not get sickness pay. If they are not working, they are not earning. By taking out a tradesman insurance policy with a loss of income clause, you can ensure you are covered in tough times.

Accident

You should definitely ensure that you are covered for accidents and injuries in the workplace, as trade jobs often come with many associated risks and it could be catastrophic if you are not covered when the worst happens.

Litigation

If something happens which could be blamed on you, you could find yourself in the position of being sued. This could mean, a t worst, that you lose your business if you are not covered for litigation by your tradesman insurance.

Thebusinessoctopus.co.uk offer a range of options for contractors all risk insurance. To learn more about contractors insurance or tradesman insurance, visit their website today.