What Insurance do I need as a Self-Employed Carpenter?

As a self-employed carpenter, you’ll understand the importance of quality craftsmanship. Often, it’s the little finishes that make a job. When you’re running your own business, you’ll be keen to everything in good shape too and a good insurance policy can hold everything together nicely.

Insurance for the self-employed must be as tough as teak and be able to bear the weight of any problems that come your way. A self-employed carpenter needs many tools in the box. As well as your craft, you’ll need a head for numbers, book-keeping skills and a rapport with your customers. Solid self employed carpenters insurance is another thing you can’t do without. So what do you need?

Public liability insurance

The bedrock of any business insurance policy, this is a must-have for any self-employed tradesman. It protects you against claims made against you should someone be injured or suffer loss or damage as a result of your work. Accidents can happen and if someone trips over your tools or you damage their furniture or possessions, they can seek compensation, which could have a devastating effect on your business. Public liability cover can the cost of claims, including legal expenses and any compensation you are ordered to pay out.

Professional indemnity insurance

As a self-employed carpenter, you’ll no doubt take great pride in your work. However, not all customers are happy as some may dispute the quality of your work or decide that advice you gave them was wrong. Their complaint may turn out to be unfounded, but even the cost of fighting the claim can be high, that’s why professional indemnity insurance is always a useful tool to have.

Personal accident insurance

This can be a crucial piece of cover for a self-employed carpenter. If you’re accidentally injured and cannot work, you’ll lose jobs and your livelihood. Personal accident cover can cushion the financial blow of such an occurrence. It will either provide you with a weekly income or pay a lump sum for the time you are out of action.

Employer’s liability insurance

If you are a one-man band and work on your own, you don’t need employer’s liability. However, if you take on an extra pair of hands, even on a part-time basis, to lighten the load, then you will need it. It protects you from claims made against you by the people who work for you if they’ve been injured, fallen ill or suffered damage or loss in the course of their work.

Other cover

You can also take out extra cover for tools, office equipment should it be damaged or stolen, and you may need specialised buildings insurance for your business premises or your home if you run your business from home. If you use a vehicle for your work, you’ll also need to check if your normal car or van insurance gives you adequate cover.