What is tradesman insurance?
Tradesman insurance is a policy which covers work completed, working equipment or legal claims made against a tradesperson. Examples of tradesmen who require this type of insurance include building contractors, electrical contractors or plumbers. Generally, this type of insurance is for tradespeople working in different clients properties or outside areas. When your working as a tradesman, it’s vital to have the correct insurance cover for all of your company needs. As long as you have the right policy, you’ll reduce the hassle and stress should you ever need to make a claim.
What should I consider when choosing tradesman insurance?
When choosing your insurance, you should find a policy that is tailored exactly to your requirements. Insurance can cover many different areas, a few of which include working onsite, consulting, tools or quoting. Tools in transit insurance is a good option for those who usually keep their tools in a vehicle. If tools are damaged or lost, you’ll be covered to replace or repair them. Depending upon how expensive your tools are; you should consider how much cover that you need. If you hire the tools that you use for work, it’s also possible to get cover to protect them.
It’s not uncommon for tradespeople to come up against legal risks. Such risks could be debt recovery or health and safety issues. Legal expenses insurance will cover you for any health and safety prosecutions, personal injuries or employment disputes. Some policies will also cover you should you be called in for jury service. If you don’t want to lose income as a result of jury service, it’s a good idea to consider a policy which includes this.
Some tradesman insurance policies can also provide cover against tax enquiries. Commonly, HMRC will conduct inspections of self-employed individuals or small businesses. With this in mind, opting for tax enquiry cover could be a weight off your mind. Ensuring that your business is compliant with tax regulations is of course highly important. Companies like https://www.rhinotradeinsurance.com/ offer a range of policies which can be tailored to your exact needs. Rhino Trade Insurance can provide cover for multiple trades and activities.
Specialist work
When you are looking for tradesman insurance, you should consider if you are likely to complete any specialist work. Some tradesmen may be taking on work in risky locations; if this is the case, you will need to ensure that you are suitably covered. When working at harbours, mines or nuclear power stations, for instance, you may need to look for some specialist cover. The cover will often depend on how long you are spending on the job in question; shorter durations of time may be covered in a standard policy. You may also need specialist cover if you are planning to work with substances like asbestos. Working abroad may also require specialist policies, again depending on the duration. Your insurance provider will be able to assess whether you need a specialist cover policy or not. A detailed review of your business activities before shopping around for a policy should set you up to find the right one.
