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Does a tradesman really need insurance in the UK?

December 10th, 2018

Working as a tradesman can be quite a perilous career choice. After all, whilst you may choose to solely work on housing projects, if you go into public projects, you can face heavy equipment, electrical rerouting, structural problems and potential hazards that could actually become a public threat or cause an accident. That is why you truly need to consider how helpful Tradesman Insurance can be to make sure that you and your workers are fully covered during all of your present and future projects.

Non-Negotiable Insurance

Whilst you may not think that you or your workers need insurance, it is important to keep in mind that over 64,000 non-fatal injuries happend to trade workers each year in the UK. If you want to take this risk, then you do not have to buy insurance. However, the government has made it a legal necessity to always possess Employers Liability Insurance  when you hire employees to work with you on your projects.

This insurance will make sure that your employees are fully covered if they are injured or become ill due to the work. This can be on or off site and you may even find that your former employees attempt to claim compensation for previous incidents. Not only can this save you from a hefty compensation bill, but it can also help you avoid the government from fining around £2500 a day for refusing to purchase this insurance.

Additional Insurance Options- Tradesman Insurance

Although you are only legally required to purchase Employers Liability Insurance, Tradesmen insurance ensures you’re covered whilst working and will give you peace of mind knowing that your finances will remain safe if you are asked for compensation. Your Tradesman Insurance can include:

  • An Employers’ Liability Extension
  • Tools and Equipment
  • Contract Works
  • Hire and Own Plant
  • Vehicle Insurance

If you are looking for a form of tradesman insurance which can be personalised to fit all of your business needs, why not start by looking online for an insurance comparison websites. Each of these websites will allow you to choose insurance policies that you can personally fit to your business.

Additional Liabilities

If you are looking for the essential insurances to include within your tradesman insurance, then you may also want to consider investing in Public Liability Insurance and Professional Indemnity Insurance. Not only will these policies protect you from any accidents that may happen to the public or your clients whilst you are on the job, but should your clients accuse you of any damage or any additional problems that have come about as a result of your work, then you will be financially covered if these complaints become lawsuits.

How much insurance do I need?

The amount of insurance that you will need will depend on the level of any future jobs that you undertake either as a sole trader or through a company. Your cover should reflect how much risk your projects actually pose to you, your employees and the public. The more risk there is, the more insurance you should have.

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