Tradesman Insurance - what you need to know
Maybe you’re starting out your business and need to set up your tradesman insurance?
Or maybe you’re an established business looking to find a new insurance provider? With us, you can tailor your cover to your profession, depending on your preferences and needs. Read on to find out more about Tradesman Insurance and how we can help.
What is Tradesman Insurance?
As a tradesman, you could come up against a selection of risks and scenarios that lead to claims being made against you. For example, as a plumber, your blowtorch could be left unattended and cause a fire at a third party property. Or as a builder, a nail could burst a water pipe in a wall and damage a customer’s property. The solution? Our Tradesman Insurance.
Who should consider Tradesman Insurance?
Our Tradesman Insurance policy covers a variety of occupations, trades and roles. From sole traders to small-medium enterprises, our cover can be tailored to suit you and your business, including:
What does Tradesman Insurance cover?
As standard, our Tradesman Insurance includes public liability and product liability cover which protects you from claims made involving damages or injury to the public and their property as well as environmental liability cover.
If a member of the public suffers an injury, loss or damage to themselves or their property our Public Liability cover can help protect you and your business.
With our Tradesman Insurance, you have the option to choose the level of cover that suits you and your business.
If you provide the public with a product, you’ll need product liability cover. Why? To cover your business against illnesses or injuries that potentially occur as a result of your products or damage to third party property. Like public liability cover, you have the option to choose the level of cover that suits you and your business.
Optional cover you can choose
Employers’ liability is for tradesmen who employ staff, contractors or temporary workers. This is a legal requirement to ensure you and your employees are protected if an employee suffers an injury or illness at work for which you are legally liable.
So, why do you need this within your tradesman insurance? If an employee of yours is injured or falls ill because of a mishap on your business’ part, you’ll be protected against any compensation claims made against you with employers’ liability cover. Protecting you and your profession in the future, you’ll also have peace of mind in your day-to-day life.
Building, Contents and Stock cover
As a tradesman, it’s important to have building, contents and stock cover under your belt to protect your profession and give you reassurance at all times. So, you can get back up and running as soon as possible.
Building, contents and stock covers you against damage caused by common risks like fires, floods, storms or the escape of water. Additionally, you’ll be protected in any cases of accidental breakage of fixed glass and sanitary ware. Plus, if you’re responsible for any customers’ goods, these will be protected under your tradesman’s insurance too.
Contractors’ All Risks cover
It provides cover to damage to contract works and materials whilst you’re at or travelling to or from the contract site, including machinery you own or hire.
Business Interruption cover
If you choose standard Business Interruption as an additional cover to your Tradesman Insurance, you’re protected against losses following a property claim which occurs at your premises like damage to your tools. This can be extended, on request, to include losses which occur at contract sites. The standard limit for our Business Interrupton cover is £1.5m for a 12 month indemnity period but this can also be increased if you ask for it.
Money and Malicious Attack
Alongside protecting your business against claims made against you, insuring your takings with money and malicious attack cover is just as important.
Your money is protected against loss or theft at your premises. It’s also protected whilst you take it to the bank or in a safe on your premises overnight. And finally, Money and Malicious Attack cover also protects your takings from damage from attempted theft to safes, tills and any items used for carrying money.
As well as theft-related incidents, unauthorised use of any credit, cheque, bank or cash card of up to £10,000 is also protected.
For our Tradesman Insurance policy, this product is suitable for up to 10 manual employees and with an annual turnover not exceeding £1.5m. For contract works, we can accommodate a maximum sum insured of £750,000.
The cover you choose will depend on your circumstances and your local NFU Mutual agency office will take the time to understand these needs and explain the full details, including any limits and exclusions that may apply, to help ensure it‘s right for you.
Public Liability is a specific type of cover that helps protect you against any injury or damage made to the public and their property.
Tradesman Insurance is a broader package policy that typically includes Public Liability alongside other relevant coverages.
As standard, you should have Public Liability Insurance. This is vital in protecting you and your business against claims made against you involving injuries to the public and damages to their property. Employers Liability is also a legal requirement if you have employees.
Before starting any project, it's a good idea to ask the contractor for proof of insurance. Verify the coverage dates and ensure it's adequate for the type of work they'll be performing. This helps protect both parties and ensures a smoother project experience.
Insurance for the trade industry
Through our policies we can cover your business against the key risks associated with your work by tailoring it to your trade business.
Our policies are flexible and with optional covers and the ability to make changes mid-term without admin fees, the needs of your business are met now and into the future.