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Building contractors and sub-contractors

Building contractors and sub-contractors can build their own bespoke insurance to suit their budgets and their business. Everyone needs insurance – and buildings contractors more than most. Providing a wealth of service at different cost levels, the risks of accidents and injuries vary greatly. The UK insurance industry seeks to offer affordable protection for tradesmen, whether sole traders or employers of many employees, offering numerous subcontracting specialities.

Contractors understand how easily mishaps can occur on site. Each trade carries its own particular risks, and the higher the risk, the more expensive premiums will be. However, with good advice you can often pick and choose and so craft a bespoke policy – but you need professional advice to be able to achieve this.

All tradesmen need insurance to protect their financial interests. Contractors who subcontract work to specialists usually require public liability cover. Some of the trades involved in construction include the following categories that insurance cover addresses specifically.

Air conditioning, ventilation and heating engineers
Flooring contractors
Paving contractors
Landscape architects
Bricklayers
Painters and decorators
Carpenters and builders

Cover offers protection from injuries or property-damage claims that could cause financial ruin. Society encourages a culture of compensation, and tradesmen must protect their livelihoods with affordable insurance cover. Since the industry varies so greatly in risk and levels of service, business owners must research their options carefully to find the best package deals for their particular niche. This is why professional advice is absolutely crucial. One call to Westhill Insurance Services and all your questions will be answered. Our professional and friendly team will listen to how your business works and then be able to advise on the type of insurance you require. Our knowledge will enable us to give you good, practical advice and, as Westhill Insurance Services is an independent company, we will shop around to find the best possible deal to suit your budget.

Before you make the call, take a quick look at some of the insurance options available – all of which we are happy to advise on.

Public Liability Cover: liability insurance pays injury and property claims caused by accidents, poor workmanship or inappropriate choices of materials.

Employer's Liability Cover: this is a statutory requirement and all employers must carry this protection if they employ workers. The cover pays injury claims to employees injured whilst performing their work duties.

Personal Accident and Sickness: sole traders and self employed people need to supplement their NHS entitlement with private cover to guarantee swift diagnosis and treatment. If you cannot work, then your income would cease while you await treatment.

Tools and Equipment: contractors' tools comprise a tradesman's most valuable assets. Theft, damage, or breakdowns can generate severe financial repercussions and it is important to make sure you can do your job.

Truck or Van Insurance: contractors must get their tools, equipment and building materials to the jobsite in order to work. Make sure the vehicle(s) used are fully insured.

Buildings and Contents Cover: many contractors work out of their own homes or vans, but sole traders very often conduct business from an office or a store. If you own a physical business site, you must protect this as well as its contents.

Business Interruption Cover: many insurance companies include this benefit automatically in their trade packages. You should investigate whether this cover is included, and you can add it as an option if necessary. The cover provides you with an income if you cannot work due to emergency circumstances involving an insurance claim.

Professional Indemnity Insurance: subcontractors often design plans for commercial clients or contractors which could result in financial loss. The damage could also result from personal advice, and PII protects subcontractors in claims made for damages that result from their advice, plans, or poor execution of building designs.

There are lots of options, but insurance not only guarantees peace of mind –leaving you free to get on with running your business, it is also a legal requirement in some instances. Don't take any chances, make a call to Westhill Insurance Services and have a chat with one of our advisors: we are here to help and our advice and guidance are free. We will do our best to make sure you get the best possible insurance deal we can find which exactly meets the needs of your business and can advise on all the pros and cons, helping you to make an informed decision. Westhill Insurance Services is on your side, we know how tough business can be and if we can help you along the way, then we are happy to be of service.

Contact Westhill Insurance Services, today.

Posted on 17th October, 2012