Public liability is the most important for your partition contractors business, as it offers protection against claims made by members of the public and your own clients. If you accidentally damage the property of either party, they can request compensation from you, and this can get very costly very quickly. In some cases, this can even put you out of business if the damage is serious enough and you don’t have the right coverage. For your protection, this is automatically included as part of Tradesman Saver’s insurance policies.
If you’re running a business that also employs people, you legally need to have employer’s liability insurance, which protects you against any claims from staff members. If any of your employees suffer an injury on the job they may file a compensation claim, which could potentially cost you tens of thousands. They may also be unable to work for a significant period of time, which can drastically affect your profits. If you don’t have a team and work alone, you may want to consider short term income protection insurance, which helps you financially while you’re recovering from an accident or sickness.
At Tradesman Saver, we offer a number of optional covers that you can add to your policy to cover you in the event of a wider range of emergencies. Tool insurance, for example, protects your equipment from damage or loss, which is especially useful if you regularly use specialist tools that are expensive and difficult to get hold of. You may also choose to take out professional indemnity insurance, protecting you in the event of a lawsuit. If you or your business makes a mistake, such as providing a poor service or offering clients bad or wrong advice, they may file a claim against you. The legal fees and compensation you may be required to pay can get costly, even risking putting you out of business without the right cover.
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