Businesses face risks. There’s the risk of your tools, materials and other property being stolen. A compensation claim may be made against you. You may incur additional costs or lose income if you’re unable to work through injury or illness.
You can’t stop this sort of thing from happening, but you can prevent such incidents from causing serious financial issues for your business by taking out a specific satellite dish installer’s insurance policy.
So, what is covered in insurance for a satellite dish installer?
No matter how careful you are and no matter how much security you have, all businesses run the risk of their property being accidentally damaged or stolen. You should make sure you have property insurance covering your:
- Buildings and contents
- Tools, equipment and materials
Liability insurance protects you if someone makes a compensation claim against you because they allege that you’re responsible for them being injured or their property being damaged.
Employer’s liability insurance covers you against compensation claims made by your employees. If you employ anyone, employer’s liability insurance is a legal requirement.
Public liability insurance covers you against compensation claims made by third parties. It usually includes products liability insurance, which covers you against claims for injuries and damage caused by defects in products that you have sold or supplied. You should check that your public and products liability insurance includes a financial loss extension because some policies exclude cover for claims involving purely economic losses.
Liability insurance is important for satellite dish installers because this trade often involves working at height. Working at height increases the risk of falling or dropping something onto someone or their property. If this happens, it can potentially lead to very serious compensation claims being made against you. Some compensation claims can cost in excess of £250,000.
Personal accident & sickness insurance
If you are injured or become ill, you might not be able to work until you recover and when you are self-employed, this means you cannot earn money.
Personal accident and sickness insurance pays a weekly benefit if you find yourself in this situation, which means that you don’t have to worry about how you are going to pay your bills. If your injury or illness means you will never be able to return to work, personal accident and sickness insurance pays a lump sum.
Motor insurance is a legal requirement if you use your vehicle in a place that the public can access. If you are caught driving an uninsured vehicle you could face a heavy fine, the endorsement or suspension of your driving licence, or even the confiscation of your vehicle.
Comprehensive motor insurance covers damage to your own vehicle, as well as other damage to people’s vehicles that you have caused. Third party, fire and theft motor insurance is cheaper, but only covers damage to your vehicle if the damage was caused by fire or theft.
Legal expenses insurance
If you find yourself involved in legal action, the legal costs can be expensive. Legal expenses insurance covers the costs incurred from a number of different types of legal action, including:
- Criminal charges
- Neighbour/client disputes
- Employment tribunals
- Tax/VAT inspections
It’s definitely worth considering getting legal expenses insurance as part of your satellite dish installer’s insurance, in order to make sure you’re covered in the event of legal action.