Insurance for contractors can be built up of many different types of cover, the covers your business requires depends on the type of work being carried out.
Insurance for Contractors in the construction sector, a House Builder for instance needs essential covers such as Public Liability Insurance, cover such as this being the cornerstone of any insurance protection.
We understand the specific covers you need as a business, whether you are working below ground such a Ground Worker or at significant height, speak to us about how we can provide the best insurance protections for your business.
Public Liability Insurance is essential for any business, but for business in the construction industry you are exposed to many risks as much as you might plan to avoid them.
Combined Liability Insurance
Just buying one type of liability insurance cover isn’t necessarily going to cover your exposures, as a minimum Combined Liability insurance will provide excellent protection.
Public Liability for any loss damage or injury you may cause to a member of the public and Product Liability, should a product you make or supply causes a loss. Employers Liability is not only essential where you have people carrying out work for you; it’s actually a legal requirement.
When you buy Public liability insurance you select a limit, this is called a Limit of Indemnity. We believe that a minimum of £2million should be obtained, however this can increase to £5million and in more recent times £10million is becoming common.
Some employers or perhaps where you are the main contractor, a house builder perhaps you may require a much higher limit of indemnity. Due to our specialist Liability contacts we can place up to £100million and beyond if reguired.
More than just Liability Insurance
Contract Works is an insurance cover protecting the work you are doing on site, this type of insurance can also include plant that you may own or hire in, sometimes you may be asked to provide this type of cover by your employers.
Being a contractor you might have premises where you store materials, have offices that need to be insured. Consider an insurance policy known as a Contractors Combined, this can include cover for most of the covers you need all under one policy.
Public Liability, Employers Liability, Own Plant, Hired in Plant, Contract Works and Office Insurance
You may wish to add other protections; a cover frequently taken by those in Contracting Trades is Professional Indemnity which protects you against bad advice given. Professional Indemnity for contractors is slightly different than say an Architect. These are special policies called Design & Construct and cover you for wrongful advice as well as where you might become involved in carrying out work that you have had an input on the design.
Getting from A to B as a contractor is essential, simple commercial vehicle insurance is easily obtainable as is Fleet Insurance for multiple vehicles from just 2 vehicles or more.
Our market access for Contractor’s public liability insurance is very wide not only in the Lloyds of London markets but the main stream insurers too.
Call Us on: 0330 058 0261