Tradesmen working contract to contract with their crews make up a substantial part of the UK’s business population. Despite that, insurance for tradesmen is anything but simple.
Tradesman insurance policies ‘package’ several important – and, in some cases, legally required – insurance types together.
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If you have a team working under you, employers’ liability insurance is a legal requirement, and for some trades, public liability insurance can also be required.
Not all tradesman insurance quotes will cover both, and when you compare policies online it’s important to read carefully to know exactly what’s covered by this policy.
That way, if you want coverage it doesn’t offer, you know to choose another or seek additional cover.
Contract works insurance, business equipment and/or tool insurance, plant and machinery insurance and more are all important.
Business interruption insurance deserves a special mention. This protects you if something means you have to cease trading temporarily.
What coverage you feel you can do without and what you need will vary by trade. Before you compare policies, make a list of essentials. This makes sure you won’t accidentally overlook anything vital.
We also suggest a second list of ‘nice to have’ insurance. If you can get better protection within your budget that’s worthwhile. However, the items on this list are the ones you can drop to reduce costs.
It’s always important to know what you’re covered against and what you aren’t. Using online comparison tools makes it easier to find potential policies.
However, it’s still important to check each policy carefully. You should take the time to find the right one for your business every time.
Read every policy carefully and watch out for areas it doesn’t cover. Ask yourself if you can really do without each one. Once you find the policy you’re confident in even after a close read, you’re set.
The comfort of knowing you have the right insurance is amazing. You can go about your business with confidence.