Every business needs to protect themselves against the unexpected by buying insurance and bathroom installers are no different.
There is the risk that your property could be damaged or stolen. There is the risk that an employee could be injured, or something you do could injure a member of the public or damage their property. There’s a risk that you lose income because you’re unable to work due to an injury or illness.
Although your business may be able to cope with some unexpected losses, there is always the risk of an unexpected loss that your business would struggle to afford. The loss of several high-end bathroom suites, for instance, could cost thousands of pounds. Similarly, if you cause a flood or start an accidental fire through heat use, the damage could be seriously expensive.
What insurance does a bathroom installer need?
Bathroom installers need insurance to cover losses due to accidental damage to their own property or the loss of their property due to theft. This includes cover for their buildings, contents, tools, equipment and stock.
They should also have contract works insurance which covers their work-in-progress and any equipment – including hired-in equipment – at a job site.
In addition to insurance covering their property, they also need liability insurance to cover them in case a compensation claim is made against them by someone who alleges that they have been injured, or that their property has been damaged by something that you have done or supplied.
Employer’s liability insurance covers compensation claims made against you by your employees. This type of insurance is required by law if you employ anyone, even if your employees are only employed on a temporary basis or are casual employees.
Public liability insurance covers compensation claims made against you by members of the public. If you undertake work with heat, it is important to make sure that your public liability insurance does not exclude heat use.
You should also make sure your public liability insurance includes products liability insurance, to cover you in case a compensation claim is made against you as a result of something you have sold or supplied, rather than something you have done, as well as an economic loss extension to cover you against compensation claims for pure economic losses.
If you are designing bathrooms as well as installing them, professional indemnity insurance is a good idea. This is similar to public liability insurance but rather than covering you when a compensation claim is made against you due to work you have carried out, it covers you when a compensation claim is made against you due to a defect in one of your designs.
Other types of insurance
Bathroom installers will need motor insurance if they use a vehicle anywhere where the public can access. As well as covering any losses as a result of an accident, or theft or vandalism of the vehicle, motor insurance is a legal requirement.
Personal accident and sickness insurance can also make a real difference if you are injured or become sick. Self-employed people do not get sick pay in the same way that conventional employees do. If you are unable to work due to an injury or illness, personal accident and sickness insurance replaces your lost income via a weekly benefit during the period of your incapacity, or via a lump sum if you will not be able to return to work.