What is Cable Television Installer’s Insurance & what does it cover?

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Like every other business, a cable television installer’s insurance is required to protect their business in case there are unexpected losses.

Some of this insurance is legally required. If you employ anyone, even if you are only employing them on a temporary or casual basis, you’re legally required to have employer’s liability insurance. This means that if an employee makes a compensation claim against you because they have been injured and believe that you are responsible for their injury, you’re covered. You are also legally required to have motor insurance if you use a vehicle for your business.

There are other types of insurance that aren’t legally required but that all businesses, including cable television installers, need to have. This includes insurance against losses arising from accidental damage to their property, or loss of their property due to theft. This property includes any business premises and its contents, as well as the cable television installer’s business tools and equipment cover. It also includes any stock and materials.

Legal expenses insurance is also a good idea. This protects you against unexpected legal costs. The range of legal costs covered includes things like the costs arising from employment disputes if an employee feels that they have been unfairly dismissed, claims from customers that feel the service you have provided was inadequate and tax disputes.

But the two types of insurance that are particularly important for cable television installers are public liability insurance and products liability insurance, and personal accident insurance.

 

Public & products liability insurance

Public and products liability insurance protects you against compensation claims made by members of the public who believe that something you have done – or something you have sold or supplied – has injured them or damaged their property. It also covers the legal costs that you would incur while defending yourself against such compensation claims.

This is important because cable television installers tend to do a lot of their work on third party premises. This means that they come into contact with members of the public and their property on a regular basis. This, in turn, means that there is an increased risk of them injuring a member of the public or damaging their property.

Compensation claims for serious injuries can easily run into the hundreds of thousands of pounds. Even claims that are successfully defended with no payments being made to the claimant can end up costing several thousand pounds.

 

Personal accident insurance

Unlike employees, self-employed people don’t get paid when they are unable to work. Personal accident insurance plugs this gap. It pays a weekly benefit if you are unable to work because you’ve been injured in an accident and it pays a lump sum if your injury means you won’t be able to work as a cable television installer on a permanent basis.

Personal accident insurance can also be extended to cover work absences due to sicknesses. Again, this covers you via a weekly benefit if you’re unable to work because you’re ill, and a lump sum if your illness means you won’t be able to return to work.

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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 £58 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 2019 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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