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A Guide for Choosing Tradesman Insurance
Compare And Get Yourself A Cheap Tradesman Insurance
Are you a tradesman? If so, then you’re probably spending most of your time fixing, building, or improving things. Being on this trade comes with a great safety risk, are you financially ready when your safety net takes an unexpected turn?
With Tradesman Insurance, you will get a help that’s perfectly designed for these scenarios and you can get rest assured that you’ll receive the insurance when you need it the most.
What is a Tradesman Insurance?
A tradesman insurance is a type of a business insurance that are specifically designed to protect and ensure the safety of tradesmen from future financial loss if anything goes wrong. For instance, a customer may get injured from your work equipment, your tools can get stolen by a thief, or your client’s property was damaged by any of your machinery, a tradesman insurance will be helpful as it could cover the cost of repairs or replacements during these scenarios.
Who can get a Tradesman Insurance?
Insurance policies can be easily tailored to suit a broad range of trades, and these policies would consider your unique circumstances of whether you run a small business with a number of employees or a self-employed tradesman with a van. Here is a list of some of the most popular trades recognized by most companies offering a tradesman insurance:
- Painters and decorators
Keep in mind that the list of trades accepted for a tradesman insurance is not limited to the ones listed above.
What is included in a Tradesman Insurance?
Each tradesman insurance policy would be unique to every insurer which is why it’s vitally important that you know exactly what each policy covers and doesn’t cover by making sure that you read even the small print.
Also, it would be good that you get to ask your insurer whether they can give the option of adding on extra features for a small increase on top of your premium. So, what features should you look for in your premium? Check out the following:
Tradesman Tool Insurance – This can pay your stolen or damaged tool replacement charges.
Tradesman Public Liability Insurance – This feature covers the cost of legal advice and compensation if someone blames you and takes you to court for issues like damage or injury. Most tradesman liability insurance from different insurers can range from £1 million up to £5 million, while some policies can cover as much as £10 million.
Employers’ Liability Insurance – Claims made by any of your employees when they get sick or injured during work will be covered by this insurance.
Legal Expenses Insurance – If you find yourself involved in a dispute, this insurance can pay for legal advice.
Business Buildings and Contents Insurance – For any damage or destruction that your business premises may encounter, this insurance can compensate you. Contents insurance can be used to cover for any office equipment or machinery that have been damaged.
Do you need a tradesman insurance by law?
Although not necessarily a legal requirement, a tradesman insurance of employers liability worth at least £5 million may be required by law if you have any employees or part timers working under you. Check out the Health and Safety Executive to know for any exemptions of this requirement.
In the case that you may need an employers’ liability and don’t have it yet, you should expect to face a fine of about £2,500 daily.
What are the features usually not included by a Tradesman Insurance?
Every policy is different from one another, it also means that there can be incidents and other events that a particular tradesman insurance policy may not cover. These particular features that may have not been included in a tradesman insurance offered to you are called the exclusions and they are:
Asbestos – For accidental contact with asbestos, most policies would probably cover this incident. However, if you took any planned work where you deliberately know that you’ll be exposed to it, then it’s an exclusion.
Negligence – An insurer may choose not to pay you out if they find out that you’ve been negligent in properly securing both your business premises and other equipment.
Wear and Tear – For equipment, machineries, and other tools that needs to be replaced or repaired due to wear and tear from old aged will be excluded from your tradesman insurance.
Working Abroad – Make sure that you check exactly what your policy states because you may need to get another specific cover to trade outside of the country. There are some few policies that may cover you so long as the bulk of your work doesn’t take place abroad.
How much does Tradesman Insurance cost?
Depending on a number of factors, the cost may vary greatly. Make sure that you properly identify the type of risks you face in your trade and what features you may need exactly. Don’t get swayed easily by the price quoted to you at first.
Keep in mind that cheap tradesman insurance may only look cheap upfront, but could easily end up much costlier at a time you may need to add on extra features that comprehensive policies may offer you.
Worst case scenarios include signing with a cheaper insurance policy that will refuse to cover what you need, meaning you’d be at risk of paying for any loss or damage.
Compare Tradesman Insurance Price Quotes with Simply
Here at Simply, we are committed to finding you the tradesman insurance that will perfectly match your insurance policy needs. We understand that it’s very important for an individual and small businesses to get the protection they need at a price that they can afford comfortably.
Simply tell us the exact features you’re looking for and we’ll try to find and match you among our wide range of trusted tradesman insurers. We’ll compare and bring back price quotes to you that can fit your bill.
Start your search for a cheap tradesman insurance with the help of Simply now!