Close this search box.

Everything You Need to Know About Tradesman Insurance

Tradesman Insurance

Table of Contents

Electricians, plumbers, builders, and similar professionals operating a small firm or working as sole trader needs tradesman insurance. If you’re one, your business is much safer and financially secure when you have such insurance.

Tradesman insurance is a selection of policies with public liability insurance. This policy is meant to cover you in case of an injury, death, property loss, theft or damage. Further, the policy pays for any compensation costs, legal fees arising from the claim, and other optional extras based on your work.

This article will tell you what you need to know about tradesman insurance, including what it is and the policies you should consider. Let’s get started.

What is Tradesman Insurance?

A tradesman insurance policy covers various important elements of your work, including ongoing work, equipment, compensation costs after a legal claim, and others depending on your work. Specific details about this professional insurance vary from policy to policy.

The compensation costs in this policy relate to any claims such as replacing your own tools, damage, or injury that you may cause your client or its property. It may also cover the legal fees you incur when defending the claim.

What are Important Types of Tradesmen Insurance?

Personal Accident Insurance

A tradesman is at risk of getting sick, injured, or even dying at work. A personal accident insurance policy is vital because it compensates you when you’re unable to work due to an illness or injury you get while working.

Employers’ Liability Insurance

This policy is necessary when you own a small business and hires fellow tradesmen as part-time, full-time, apprentice, or contractor. Further, this insurance policy covers your employees when they fall sick or get injured when performing their role in your business.

Tradesman Tool Insurance

Your equipment or tools are your livelihood as a tradesman. This insurance policy covers the cost of replacing your tools in the event they’re damaged, stolen, lost, or destroyed. The tradesman tool insurance policy can be either:

Hired-in Plant Cover: This covers the cost of leased specialist tools and equipment.

Own Plant Equipment Cover: This covers the cost of your own tools and equipment.

Tradesman Public Liability Insurance

Although public liability insurance is not a legal requirement, it’s highly recommended to all tradesmen. This policy covers you when a customer or member of the public is injured, or their property gets damaged. These accidents can happen when for instance, a member of the public trips over your equipment and breaks their leg or arm, when you smash your client’s car wing mirror as you bring your tools or building materials into their property, and much more.

Tradesman Professional Indemnity Insurance

Do your business offer advice, specifications, and designs? A tradesman who offers such services needs professional indemnity insurance because your business can later cause your client some financial loss and claims of professional negligence.

Tradesman Contract Works Insurance

Are you working on a construction site, such as when building an extension or a new housing development? If so, you need a contract works insurance to cover you when work is being done, especially when there are damages due to vandalism, fires, floods, theft, and much more because they’re outside your control.

Kokou Adzo

Kokou Adzo

Kokou Adzo is a stalwart in the tech journalism community, has been chronicling the ever-evolving world of Apple products and innovations for over a decade. As a Senior Author at Apple Gazette, Kokou combines a deep passion for technology with an innate ability to translate complex tech jargon into relatable insights for everyday users.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts