Tradesmen Insurance - What to Look For

If you earn your living through a trade and you are self-employed you will need good tradesmen insurance cover.

Much will depend on your particular trade and the level of cover you want, but most tradesmen insurance policies offer similar coverage and benefits. In this article we discuss what you should look for when buying your tradesmen insurance.

Firstly, whilst there is a core tradesmen policy, there are particular insurance needs to be met for different trades e.g. if you are a builder, your overall insurance may be different from a window cleaner, or if you are a kitchen fitter then your requirements may be different from a carpet fitter. As you buy tradesmen insurance, make sure your particular trade is covered.

Many of these policies are tailored to meet the needs of sole traders or small businesses with a small number of employees. It is important that they cover your belongings and your place of business, as well as when you carry out work at third-party sites or at other peoples homes.

The tradesmen insurance must cover your legal obligations. For example, if you have employees it should include employers liability insurance to cover your legal liabilities for the cost of claims by employees injured at work.

If you use a vehicle or vehicles then these must also be covered by law. Even if you use your private vehicle in the course of your job you must inform your insurer of this fact.

Probably the next most important thing to look is public liability insurance. This will cover your legal liabilities for the cost of claims arising from injury to members of the public at your premises or arising from your work.

A good tradesman insurance policy will cover you against damage to people’s homes while you carry out work or make repairs. Many insurers offer liability coverage up to £10 million, which should be enough to cover the cost of any mishaps or accidents. Additionally, damage or injury caused by faulty devices that you use or sell should also be covered in your policy. All liability insurance should cover legal and hospital costs, as well as other damages.

Arguably the most important thing for any tradesman is his tools. Without his tools a tradesman is unable to work and, so, unable to earn. Therefore it is essential that the insurance policy covers the cost of replacing tools if they are lost, stolen or damaged. What is more, it may also be worth looking for a policy that also covers tools that you hire.

The best insurance policy isn’t necessarily the one that provides the highest levels of cover or the one that you can get for the cheapest price. You should carefully consider what business risks you have and make sure these are covered by the insurance.

It is not just about the insurance cover though, you should also expect a good level of customer service. Look for an insurer that offers a 24-hour helpline and is willing to give help and advice on any problems you may encounter in the course of your business. Also make sure that the claims handling service provided is of a high quality, after all it is this service you will be using if you need to make a claim.

Buying a tradesmen insurance policy is like buying any other kind of insurance. Each policy will have its own terms and conditions and it pays to study these carefully before making a decision. Make sure you understand exactly what is, and isn’t, covered. Be aware of all exclusions and any excesses you may have to pay in the event that you do make a claim.

When it comes to looking for your insurance, there are many companies offering online tradesman insurance. This may be ideal for you if you operate in a trade that is fairly straight forward and if you can go down this route then you have the freedom of making your insurance purchase at a time that suits you, not necessarily during the standard working day.

(Ref: FP537)

Click here to get an online tradesman insurance quote, alternatively contact your Cherrypicker.