A Quick Guide to Builder’s Insurance


The building industry involves risks and the potential for accidents is always present. Builder’s insurance cover is a must for builders, contractors, and construction-site workers. Construction is the riskiest land-based employment industry in Europe. It accounts for nearly one out of every four work-related deaths in Europe. Construction is one of the largest employers in Britain. One out of ten major job-related injuries happen in this sector.

Accidents happen. And they happen even after rigorous implementation of the best work practices.

Builders can choose from the following insurance types

  • Builders public liability Insurance – This insurance protects builders from liability claims made by clients and members of the public who may have suffered an injury or damage to property because of a construction business
  • Financial loss insurance – Often provided free along with public liability, this cover protects against public claims of financial loss not arising from injury or property damage.
  • Product liability insurance – This insurance provides cover against claims of personal injury or property damage from products made or supplied by you
  • Legal expenses insurance – This insurance covers costs related to compensation awards, employment disputes, compliance, tax investigations, etc
  • Employer’s liability Insurance – This insurance takes care of expenses arising from claims related to employee injury or death. This insurance is a legal requirement if you employ staff in your business, and failure to have this cover can result in stiff fines
  • Tools and equipment Insurance – This insurance covers the costs related to damage or theft of tools and equipment
  • Professional indemnity Insurance – This insurance is a buffer against claims of professional negligence. It’s particularly useful for builders providing services to other businesses
  • Contractor’s all risks insurance – This is a very useful insurance that covers ongoing work on a construction site
  • Personal accident & sickness insurance – This insurance is meant for construction business owners. It provides cover for costs that arise from the inability to work full-time after an injury or illness

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Adequate builder’s insurance for the scope and risk associated with your work is essential. It gives you peace of mind and the confidence to go ahead with work without worrying about having to pay claims. There are many plans to choose from, and with a little research builders can easily avail a policy that gives them the best mix of monthly premiums and cover.

Builder’s insurance benefits construction business owners and contractors in many ways. Customers are more likely to hire a business that is insured because it indicates that the owner takes work seriously and can be trusted.

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*This indicative price is for £1m public and products liability, £250,000 legal expenses, £10,000 financial loss and £10,000 accidental death insurance cover for a sole trader. The price includes insurance premium tax and our admin charge. 22% of new customers paid less than £59 between 1st January 2019 and 31st August 2019. The actual price you pay will depend upon your specific business requirements and will be affected by your trade, your claims history and the optional covers you select which are all priced separately during the quote process. This website is intended for customers based in the UK and is therefore subject to the UK regulatory regime(s) © Copyright 2021 Tradesman Saver | Tradesman Saver and Henry Seymour & Co. are trading names of Barkdene Limited which is authorised and regulated by the Financial Conduct Authority (FRN 303965) for our insurance distribution and credit broking activities. Barkdene Limited is a credit broker not a lender. You can check this on the Financial Services register https://register.fca.org.uk/.
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