Like all businesses, artexers need insurance to protect themselves against unexpected losses. Unexpected losses can arise no matter how experienced you are and no matter how much care you take.
It can be tempting to save money by not buying insurance, particularly if you’ve never had a claim. But some accidents can result in very expensive insurance claims.
When working at height for instance, if an employee injures themselves due to a fall, or if a member of the public is injured by something being dropped onto them, it could result in liability claim costing hundreds of thousands of pounds. Without insurance, there is a risk that a claim of that size could bankrupt your business.
So, what does Artexers Insurance cover?
Employer’s liability insurance
Employer’s liability insurance is a legal requirement if you employ anyone, even if the people you employ are employed on a casual or temporary basis. This type of insurance covers you against compensation claims made against you by an employee that feels you are responsible for them being injured at work.
Because artexers often work at height, it’s important to make sure that any height limit in the insurance policy is not too restrictive as this could prevent you from undertaking certain jobs.
Public liability insurance
This is similar to employer’s liability insurance, although it covers claims made by members of the public rather than claims made by employees. It’s not a legal requirement, although if you are working for the main contractor, it’s likely that the main contractor will insist that you provide evidence that you have public liability insurance before you are allowed on site.
Standard public liability insurance only covers claims made for injuries or property damage, so it’s important to make sure that the public liability insurance has been extended to cover claims made for purely financial losses. The public liability insurance should also include cover for product liability insurance which covers compensation claims arising from injury or damage caused by products that you have sold or supplied.
As with employer’s liability insurance, it’s important to make sure that any height restriction in the insurance policy is not too restrictive.
Cover for damage to your property
Every business needs to insure their property against accidental damage or loss due to theft, and artexers are no different. They need to cover their buildings and contents as well as get their tools and equipment insurance.
However, artexers should also consider contract works insurance which covers property on site as well as the work-in-progress.
Personal accident & sickness insurance
Self-employed people don’t get sick pay so if they cannot work, they cannot earn. Personal accident and sickness insurance pays a weekly amount if you cannot work due to an injury or illness to replace that lost income. If you are unable to work on a permanent basis, the insurance pays out a lump sum.
Motor insurance is a legal requirement if you use a vehicle anywhere the public has access to.