Tradesman Insurance

Public liability insurance protects your business from the biggest threats. It will cover the legal expenses and any possible compensation up to your chosen level if a client, member of the public or site visitor is injured or worse, dies, and your business is found to be at fault.

This policy also covers accidental damage to a property made by you or your business. Because let’s face it, accidents do happen from time to time, which is why holding public liability insurance offers peace of mind and protection for you, your customers and clients.

It’s also worth bearing in mind that holding this cover is often a prerequisite for many business customers.

Professional indemnity insurance protects you from the financial risks of professional negligence. For example, you could be an electrician and without realising, have fitted lighting that doesn’t comply with the building regulations. If your client takes the view that this mistake has caused them a financial loss, tradesman PI insurance will cover the cost of this up to your level of cover.

It’s considered a must-have tradesman insurance policy and businesses can refuse to engage with tradespeople who don’t have it.

Tax enquiry insurance can help cover the cost of professional representation in the event that the taxman launches an investigation into your tax affairs.

The fact of the matter is, HMRC can open a tax investigation into self-employed people, small business owners and CIS workers at any time. Sometimes it’s as innocent as a routine investigation. Sometimes it’s part of a wider review.

For tradespeople and contractors with subcontractors, HMRC may also carry out checks to ensure subcontractors are engaged under the correct employment status. If the taxman finds that a subcontractor’s work reflects that of an employee (rather than self-employment), you could find yourself liable for missing employment tax.

The cost of defending tax investigations – whether it’s to do with employment status or your personal tax affairs – can escalate quickly. So it goes without saying that tax enquiry insurance is worth having. 

Legal expenses insurance gives you access to legal advice, support and representation should you encounter disputes from running your business.

Whether you take a client to court over an unpaid invoice or a customer decides to open up legal proceedings against you, this policy will cover your costs up to your level of cover. It also pays out for loss of income if you’re called up for jury service.

Tradesman accident insurance comes in two forms: personal accident insurance and income protection insurance.

Personal accident insurance offers financial protection against disability or death if you’re involved in an accident at work and can’t continue for a period of time or worse, permanently. In the event of death, the policy pays out a lump sum to your spouse or chosen individual. 

Income protection insurance offers compensation for lost income if you have been unable to work due to an accident, illness or injury.

Theft of tools and equipment can be financially devastating for tradespeople. Not only does it stop you from carrying out your work, but tools are also expensive to replace. The tools in transit insurance is aimed at people who often have their tools in their vehicle and rely on them for work purposes.

The policy covers the cost of repair and or the replacement of tools if they are lost, stolen or damaged when being loaded, unloaded or temporarily stored in your vehicle.

It works on a per vehicle basis, permitting the tools to be stored inside the vehicle overnight subject to certain conditions such as the vehicle being locked in a garage or being fitted with an alarm.