Tradesman & Contractors Insurance

Anyone involved within the construction industry must know the importance of being adequately insured for possible eventualities. There are four main elements to Tradesman’s / Contractors, insurance requirements

1. Public Liability Insurance

is cover for eventualities which include any third party who suffers loss, damage, injury or death due to your negligence whilst carrying out activities in connection with your business. It covers the costs of legal fees, expenses and subsequent damages awarded against you. Whilst Public Liability Insurance is not a legal requirement, it is absolutely essential, and some major Contractors / Public Utilities / Town and County Councils will not permit work to start without this insurance in place. Cover normally starts at £1,000,000 rising to £2,000,000 although it has been known that certain bodies will not take on a contract unless a minimum of £5,000,000 cover is in place.

2. Employers Liability Insurance

is much the same as Public Liability Insurance but differs in so far as firstly it is a legal requirement to have this insurance in place if you employ any staff. The Health and Safety Executive has the powers to close down your business permanently if Employers, Liability is not in place. It covers any claim for loss, damage, injury or death by an employee or their family if proven that you were negligent and could have prevented their loss. Cover is normally a standard £10,000,000 indemnity limit.

3. Contract Works Insurance also known as Contractor All Risks Insurance ‘CAR’

are roughly defined as any works carried out by you in the execution of a contract incorporating materials, plant, tools, equipment, temporary works, temporary buildings, or any other property on or adjacent to the site for the purposes of those works. Basically this insures the whole site for such eventualities as fire, lightning, explosion, weight of snow, escape of water from fixed tanks etc. Cover may vary from insurer to insurer so please feel free to contact one of our advisers who will be happy to tell you just what is covered.

4. Tools Insurance

Whereas contract works may be essential for tradesmen involved with larger construction enterprises, the smaller outfit or one man band may not need such cover. However, every tradesman knows that without his tools, he is without the ability to earn a living, so it is imperative that the tools of your trade are covered for such eventualities as theft or accidental damage.

Tools cover normally has to be attached to your main business liabilities insurance, however, we are delighted to announce a new Stand Alone Tools Insurance Policy.

Cover Options:

• Artexers
• Bricklayers
• Carpenters and Joiners
• Demolition Workers
• Diamond Drillers
• Dry Liners
• Electricians
• Floorers
• Fencers
• Gardeners
• Glaziers
• Labourers
• Landscape Gardeners
• Locksmiths
• General Builders
• Groundworkers
• Painters and Decorators
• Paviors
• Plasterers Plumbers
• Roofers
• Scaffolders
• Shop Fitters
• Steel Erectors
• Tilers
• Window Fitters

Some useful tips for all tradesmen and contractors requiring insurance:

1. If you are self employed, it may be worth considering taking out some personal accident / sickness insurance. If for some reason you are unable to work, the bills still have to be paid so this insurance can give you that extra peace of mind. Please call us for more details.

2. It has been reiterated in the press recently that the word ‘rogue’, is not just a term given to poor tradesmen, but also to members of the public who refuse for whatever reason to pay for the work done. For a small business, this in itself can be nothing short of crippling, but the thought of the legal fees involved to try to reclaim this money could essentially send a business under. We can obtain policies to cover such legal fees should the worst happen.

3. Don’t forget, we at Peacock can arrange cover for all types of commercial insurance, so why not give us a call when your van, truck or fleet policies are due for renewal. Policies available via our panel of insurers for all types of trades, including those using heat. Cover is available for liability Insurance, owned or hired in plant, tools and accident sickness & unemployment cover. Policies are aimed at the sole trader or small business in the Building and Allied Trades. A No claims discount facility is also available on some policies.