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Drilling Contractors Insurance

Public liability insurance for drilling contractors

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Public liability cover for drilling contractors

Carrying out work as a drilling contractor is extremely high-risk. There may be transportation accidents, heavy equipment injuries, fires and explosions, and tough weather conditions to deal with, which could impact your ability to continue working. However, you also need to consider how your business activities might affect others. For example, you could cause injury to a customer or member of the public by leaving site locations unsafe and exposed, or cause property damage due to misconduct. In such situations, it’s likely those impacted will make a claim against you, resulting in costly compensation and legal fees which could disrupt your operations and even your entire livelihood. Fortunately, public liability insurance protects you should anything go wrong — you won’t need to pay out of pocket yourself for these fees.

 

Most insurers offer between £1 million and £10 million worth of public liability insurance cover.

What is drilling contractors insurance?

Designed especially for your profession, a comprehensive drilling contractors insurance policy will protect your business in the event of an accident. You face multiple hazards in your line of work every day, and if a problem arises that means you have to pay for compensation or legal costs yourself, you could find yourself in financial ruin. As such, drilling contractors insurance will allow you to carry out work without worrying how one slip up could cause your business to come crumbling down.

Do drilling contractors need insurance?

A generic insurance policy won’t cover everything you need as a drilling contractor, simply because many insurance providers consider your trade to be too high risk for them. In fact, many insurers fail to recognise your profession in the first place and instead prefer to offer policies to standard trades. However, it’s likely your clients will request drilling contractors insurance in order to work with you, making it essential for your business. It ensures your company is protected no matter what happens during your working day. Use Brisco Business Insurance’s policy comparison tool to help find the right cover for you.

How our drilling contractors insurance works

1 Apply Online

Complete the online quote form on our business insurance website – Brisco Business Insurance

2 Compare Quotes

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3 You’re insured!

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Drilling Contractors Insurance: Frequently Asked Questions

How much drilling contractors insurance cover do I need?

The cover your business requires will depend on a number of aspects, including how many jobs you complete, the cost of your equipment and how big your contracts are.

How much does drilling contractors insurance cost?

The price of your insurance premium will be influenced by how much cover you require, your experience and how long you’ve been in the industry, as well as your previous claims history.

Is drilling contractors insurance necessary?

In the event of negligence on your part, you’ll be liable for any property damage or personal injury to a third party caused by your business activities, unless you have an insurance policy. Strictly speaking, drilling contractors insurance isn’t necessary unless you hire staff (in which case you’ll need employer’s liability insurance), but if you want to ensure your business is protected, it should certainly be considered. It’s also worth remembering that you may fail to secure clients if you don’t have adequate insurance in place.

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