Builders & Tradesmen – What Cover Do I need right now? Am I forgetting something?

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What cover do I need right now?

Builders & Tradesmen’s work can be diverse and constantly changing. Combined Liability and Contractors All Risks insurance allows you to have the right cover you need no matter what job you are on. The main covers are explained below:

Public Liability
Employers Liability
Contractors All Risks incl. cover for Tools & Equipment, Own Plant & Hired in Plant
Personal Accident for Sole Traders/Manual Working Directors

Public Liability Insurance
This cover will protect you from liabilities to Third Parties (other than your employees), for bodily injury or damage to their property which arises during the course of your business due to your negligence/lack of care.

Products Liability Insurance

This cover will provide legal liability for accidental injury or accidental damage to property caused by products sold or supplied or work or services which you have undertaken in connection with your business/trade.

Employers Liability Insurance
If your business employs any staff including part time staff, trainees/apprentices /work experience/ agency staff and sub-contractors, this cover will protect you from any liability arising in the course of their employment with you and provides cover if any of your employees suffer physical injury, disease or death, and it is proven that as an employer you acted negligently and subsequently could have prevented their loss.

Contractors All Risks

This insurance (also known as Contract Works insurance) is designed to provide cover for contractors (e.g. builders, plumbers and electricians ) working on a contract site on new construction projects including buildings in the course of Construction, Alteration or Refurbishment. The main part of the contractors all risks insurance is the contract works section which provides cover for the property being worked on (e.g. new house, etc.). However, cover for the existing property is excluded (e.g. the existing structure when building an extension) and must continue to be insured under its own insurance cover.

Tools, Plant and Equipment
Even if you don’t own a business premises, you can insure your tools and equipment against loss, damage or destruction whilst on a contract site including hired-in plant and equipment.

Personal Accident Insurance

This insurance will protect most self-employed persons for loss of weekly income and specified capital benefits (e.g. death / loss of a limb) in the event of any accident preventing you from working. This insurance is highly recommended for a sole trader, business partners and company directors as a combined liability policy does not cover any injury caused to a sole trader/business partner as it is extremely difficult for a company director to sue his/her own company and a sole trader cannot sue himself either.

Am I forgetting something?

Things to bear in mind when taking out your insurance policy:

Declare a truthful and accurate business description and activities carried out
Declare accurate annual wage roll or turnover figures
Declare Payments made to Labour Only & Bona Fide sub-contractors including apprentices / work experience/agency staff
Declare previous claims & incidents history
Not declaring any previous declines to insure you, refusals to renew or terminate any previous policy or any special terms imposed by a previous or current insurer are all a failure to disclose material facts to the insurer
Declare all previous convictions / prosecutions / receiverships /charges of criminal offences
Be aware of maximum height and depth at which work is undertaken and that it does not exceed the policy limits – usually 10m / 15m in height and 3m / 5m in depth
Be aware of Endorsements in the policy regarding hazardous works being undertaken e.g. Hot Works
Be aware of Endorsements in the policy regarding working in hazardous locations e.g. work away from your premises
Make sure ALL staff have Manual Handling, SafePass and appropriate on-site safety training including for that involving machinery
Make sure ALL staff have Personal Protective Equipment including Clothing and that it is worn / used
Carry out a sufficient risk assessment and take the suitable measures to protect employees and report incidents…..it’s your duty

Remember: A Broker who understands Construction Risks is the one you need to be with. Price should not be the only deciding factor as some cut price Public Liability policies will not stand up when you have a claim. We have 30+ years’ experience in Construction Risks insurance and our team are waiting for your call. See our Testimonials page for current construction client comments. Contact us now for professional advice and tailored insurance solutions…8245555 or newbusiness@safaughnan.ie

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