myhammer guides > Trade Info > Tips for Tradesmen – Tools and Liability Insurance

Trade Info

Autor: | Montag, 4. Oktober 2010 | Kommentare
Tips for Tradesmen –  Tools and Liability Insurance

Top Security Measures

Hassle or not, taking at least the most paramount insurance as a tradesman is the best step towards protecting a business. In the following, read about the top-priority insurances of today that cover possible instances of accidents and loss or damage of tools – both during work and transportation.

Tools insurance
Tradesmen’s workflow is not always unobstructed. Stress or simply just a minimal lack of attention can result in damage or even loss of unsecured instruments, ranging from mobile phones to pneumatic hammers. A tools‘ insurance is for relatively low value items (usually up to £300-400) and often the original value can be reclaimed.

Employers‘ liability insurance
In larger businesses, it requires great effort to observe all employees – not only to monitor their work but to ensure their safety. If any of the employees suffer an injury or become ill at work, the employer will most probably be held responsible for it and thus claimed for compensation. In this case, an employers‘ liability insurance will provide cover. The insurance is mandatory by law for most types of business; however, if it is not a limited company and you are the only employee (or if only family members are employed), it is not required. Tradesmen are often checked for the insurance and in the event of failure to produce it, a fine of up to £2,500 can be given for each day you do not have it!

Public liability insurance
It is similar to the aforementioned employers‘ liability insurance to some extent, but covers clients as well as the general public. It can be expensive depending on the size of the business. However, many traders will find public liability insurance for about £100 per year.

Several insurance companies offer solutions combining the above insurances with further legally required security measures.

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