What is Contractors Insurance?
Contractors Insurance can include many different types of covers, depending on the specific needs of your business. However, there are some core covers that are so critical that we usually recommend them to all our contractor clients. These are:
Contractors Public Liability cover
There are few professionals that face so many risks as contractors when it comes to claims from the public. Imagine if a stray tool were to cause a serious accident to a site visitor, or a construction fault resulted in multiple accidents – or even deaths. Public Liability is one of the most important covers for any contractor and will pay out for legal costs and compensation if a member of the public makes a claim against you for injury or worse which they claim to be a result of your work.
Whether your staff are full-time, part-time, or casual, Employers Liability cover will protect your business if a lawsuit is brought against you by someone working for you. If an employee claimed that your business activities resulted in their injury or illness, the compensation cost could be crippling without the right level of cover. If you have employees, Employers Liability is a legal requirement.
Giving professional advice might well be a key part of your business – particularly if you run a design and construct business. But sometimes a claim can be made against you on the basis that this advice was erroneous, or ‘bad’. If your client believed that your faulty advice had been to their detriment, you could end up seriously out of pocket. Professional Indemnity protects you by paying out for compensation claims as well as legal fees.
Motor vehicles are a key part of most contractors’ business – cars, vans and lorries, all of which can be driven by different employees at different times. All your vehicles need to have at least third party insurance, which may need to be extended to cover multiple drivers. We can arrange high quality Motor Insurance for your entire fleet.
Some other covers that we typically recommend to our contractor clients are:
- Personal Accident
- Contractors All Risks
- Plant, Machinery, Tools & Equipment All Risks
- Office Insurance
- E-risks Insurance