The most important cover you need as a paving contractor is public liability, as this protects you against claims made by both clients and any members of the public that may have a claim against you. For example, if you unknowingly cause injury to them or damage their property, you could be found liable and be made to pay compensation. These claims are often very costly, especially with the addition of legal costs. Serious injuries can cost you tens of thousands, which has the potential to put you out of business if you’re not appropriately insured. This is automatically included as part of Tradesman Saver’s policy, as is product liability, financial loss, legal expenses, and accidental death.
At Tradesman Saver, we offer a range of optional covers for some crucial aspects for businesses, such as employer’s liability insurance. If you employ anyone, you legally need to have this cover, and we offer it as an optional choice for businesses of all sizes. This protects you against any claims that staff may file due to injuries or accidents that happen within the workplace, which could be very costly. This also protects you financially if an employee can’t work during their recovery period, which can hinder your profits.
If you’re self-employed and work alone, you may want to consider taking out a short-term income protection policy, which guarantees you a level of income through your policy in the event you’re sick or injured and can’t do your job. This ensures you aren’t left struggling to pay your bills during your time off work. Another important cover is contractors all risk insurance, which protects you financially for any repairs you will need to complete onsite, or if you need to redo the work you were contracted to do. For example, if your hard work was damaged through no fault of your own, perhaps through fire or flood, your policy could protect you from having to pay the cost of redoing the job out of your own pocket.
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