What is self-employed tradesmen insurance?
We find that many self-employed tradesmen often assume they are covered under the policy of the company they subcontract too. But this is not always the case. This leaves tradesmen who work on a self-employed basis under insured, and therefore at financial, possibly criminal risk!
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Self-employed insurance provides bespoke cover for workers who work for themselves, as opposed to working for an employer. The most common covers needed are public liability, professional indemnity, and employer’s liability. Remember, you will only need employer’s liability if you employ one or more people.
Here is an example of self-employed tradesmen insurance: A bricklayer gives advice about building a wall, and the wall then sinks and is unsatisfactory to the customer. The customer could sue the bricklayer for giving expert advice that resulted in loss. Professional indemnity would then cover the tradesmen against losses.
A breakdown of self-employed tradesmen insurance cover
When talking to a tradesmen insurance broker, always make sure the following three levels of cover are included in your policy. This will ensure your fully covered from 99% of claims.
Public liability insurance
This is normally the most important level of cover. It will protect you from any claims made by the public where someone is injured as a result of your work. An example could be a slab that comes loose on a customer’s patio, causing a them to fall over and break their arm.
Professional indemnity insurance
This level of cover is essential if you are in a position where you are giving expert advice, which effects the way a job is completed. If you give faulty advice and the customer suffers loss, this cover will protect you financially. For example, you may suggest a method of completed a job, which the customer does not like. Professional indemnity insurance will cover you if the customer claims for loss of time and the cost of the work to be redone.
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Employers liability insurance
If you employ staff or even sub-contractors, who work for you, you will need employer’s liability insurance. If any of your staff make a claim against you, this cover will protect you from financial losses. An example maybe you ask a member of staff to do a job which maybe should have been for two people, which causes injury and leaves them unable to work. Employers liability will cover any legal losses such as loss of pay.
Good Read: Bona-fied vs labour only subcontractor insurance
Need more information on self-employed tradesmen insurance?
If your self-employed and worried that you do not have to correct cover, don’t worry, act today! Call our team today or ask for a quick quote. We will find you the best cover for the best price, at the right time for you. Maybe you just want to review your current policy. Whatever your concern, just get in touch to talk to an expert today!
