Every trade job carries its own risks and challenges, such as potential injuries, property damage, or harm to the public. Whether you’re overseeing a construction site, rewiring a home, repairing pipes, or tiling, you already have enough on your plate without the stress of having to deal with money worries from an insurance claim. This is why most people think it won’t happen to them—until it does, and then it’s too late.
What is Trades Insurance?
Trades insurance is like a toolkit with various types of coverage to protect those who work in manual jobs. Public Liability Insurance is the essential coverage that most tradespeople need, but it’s just the starting point.
Depending on your specific business needs, you can create a more complete insurance package by adding policies like Tool Insurance or Professional Indemnity Insurance.
Key tradespeople insurance policies
Let’s take a closer look into some of the most popular insurance policies for tradespeople.
- Public Liability Insurance: This type of insurance protects you if someone is injured or their property is damaged because of your work. It covers the cost of damages, legal fees, and other related expenses.
- Professional Indemnity Insurance: If you make a mistake at work or give bad advice that leads to financial loss, this insurance covers the costs of any claims made against you, including legal defence bills.
- Tool Insurance: Tools are essential for your work, but they can easily get stolen, lost, or damaged. Tool Insurance helps you replace them quickly so you can get back to work without losing time or money.
- Employer’s Liability Insurance: If you have employees, you’re legally required to have this insurance. It protects your staff—whether they’re full-time, part-time, or temporary—if they get injured or fall ill due to their work.
Tips for choosing the right trades insurance policy
- Check the coverage: Make sure the policy you choose covers everything you need, especially when it comes to tools, equipment, and protection against accidental damage or theft.
- Know your needs: Think about what you actually need from your insurance and ensure your policy covers all those bases.
- Don’t just pick the cheapest option: Sometimes cheaper policies leave out important coverages, like flood protection, that you might need.
The easy way
Understanding the differences between the different types of trade insurance, business insurance, and self-employed insurance can be quite confusing. Plus, finding the right policy from a trusted provider at a good price? That can be a real headache.
If you’d rather focus your time on your work or simply enjoy your life, why not let an expert handle it for you?
At NIS, we offer free expert advice and affordable insurance tailored to your specific needs. You’ll receive excellent coverage at competitive rates, with no hidden fees. We also provide instant documents and UK-based phone support to ensure everything runs smoothly.
With NIS, protecting your business is both easy and stress-free: start your free quote or talk to our experts for help today.