Small Business Liability Insurance

Anyone who runs a small business, is self employed or works as a freelance tradesman should consider small business liability insurance.

Small business liability insurance can help bring peace of mind to thousands of business people and tradesmen across Britain, and in some cases it has, no doubt, helped to save their business and their livelihood.

In fact, liability insurance is something we all have to think about. Even by driving our cars or having visitors to our home, we are exposing ourselves to liability risk. Taking the example of driving a car, through your car insurance you are covered for damage or injury to anybody that is caused by your driving. If this is the risk from simply driving a car, you can imagine how important small business liability insurance can be.

In general, if you own a small business there are a number of kinds of liability you have to cover, so you may need small business liability insurance. If you work in a particular trade, for example building or plumbing, then a tradesman liability insurance policy may be the best solution for you.

If you have employees, you are required by law to have employers liability insurance. This protects your small business if an employee claims because of an accident or illness caused by working for you. Such claims can potentially run into thousands of pounds so if something should go wrong you will be much better placed to deal with it if you have a good level of liability insurance.

If you have a retail premises or if people visit your office or your home to consult on matters relating to your business, you should have public liability insurance. This is not required by law but it will cover you if someone is injured or harmed while on your premises. You might think that the probability that anything will go wrong is very small, but it’s better to make sure you are covered, just in case.

A good tradesman liability insurance product will cover against claims arising from faulty services or products that you sell to your customers. If you are involved in a trade such as an electrician, carpenter or plumber where you visit people’s homes to carry out repairs, you will definitely want to consider this insurance.

Most tradesman insurance policies will provide good coverage against claims that arise from your work damaging someone’s property. This kind of damage can amount to hundreds of thousands of pounds so good insurance is essential. We all think it won’t happen to us, but one small mistake or one faulty valve could end up flooding someone’s entire home, causing untold damage. Luckily, most tradesman insurance will cover damage caused by faulty parts that you install or sell, as well as damage caused by your own mistakes.

Whilst tradesman liability insurance is not required by law, it clearly makes sense to get it for a number of reasons.

It is relatively easy to arrange a tradesman liability or small business insurance policy. For the cover provided these policies are generally good value for money. It certainly seems better to spend out a relatively small amount on the insurance rather than face potential financial ruin as a result of having to meet liability claims without it.

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To talk to an expert in your area and get a quote, contact your Cherrypicker.