No matter how much training you have completed, how many qualifications you have been awarded, how many years experience you have under your belt or how careful you are, accidents can still happen when you are least expecting them.
It’s easy to assume that accidents won’t happen to us, but one small oversight could be all that it takes and if you’re uninsured, the consequences could be disastrous. Public liability insurance claims, for instance, can easily cost hundreds of thousands of pounds. Without kitchen installers insurance, a claim of that magnitude would cause most businesses to struggle and many would end up bankrupt.
There are two main types of insurance that all kitchen installers should have: public and products liability insurance and contract works insurance.
Public & products liability insurance
Public liability insurance protects you if a member of the public claims compensation from you because they believe that something you’ve done has resulted in them being injured or their property being damaged.
This type of insurance usually includes products liability insurance which protects you against compensation claims arising from an injury or damage that was caused by a defect in a product that you have sold or supplied.
You should make sure that your public and products liability insurance includes a financial loss extension. Otherwise, the cover will be restricted to claims arising from injuries and property damage, and claims for purely economic losses will not be covered.
It’s also worthwhile getting legal expenses insurance. This is usually available as standard with your policy, and protects you if you have to undergo legal procedings, such as VAT and tax investigations, or employment tribunals.
Contract works insurance
Contract works insurance covers your property against accidental damage to it or theft while it’s on a job site. This is important because many property insurance policies only cover your property when it is on your own business premises.
As well as covering your own tools and equipment, contract works insurance also covers hired-in tools and equipment that you’re responsible for.
Your work in progress is also covered until it is handed over.
Some types of insurance are compulsory. If you don’t have them when you’re required to do so, you could face heavy penalties.
Employer’s liability insurance is one such insurance. If you employ anyone, even on a temporary or casual basis, you’re legally required to have employers’ liability insurance and to display the certificate of insurance prominently.
Motor insurance is the other compulsory insurance. Anyone using a vehicle somewhere that the public has access to must have it. Your vehicle can even be confiscated if you’re caught driving while uninsured.
If you use your own private vehicle, it’s important to check that business use is not excluded from your motor insurance. Some motor insurance policies only cover social, domestic and pleasure use.
Other types of insurance
In addition to the main types of insurance that kitchen installers need to have and the insurance that kitchen installers are legally required to have, there are a number of other risks that they should consider insuring against.
Contract works insurance covers your property when it’s on site, but if you have business premises, it’s important to insure those premises and their contents against accidental damage or losses due to theft.
Because self-employed people don’t get paid if they are unable to work because they’re sick or have been injured, personal accident and sickness insurance is also a good idea because it replaces your lost income via a weekly benefit if you’re temporarily unable to work, or via a lump sum if you’ve become permanently unable to work.