Even a professional, experienced caretaker cannot prevent accidents from happening. Your tools could be stolen or accidentally damaged. You might be unable to work due to sickness or an injury. You may injure a member of the public or damage their property.
At times like this, the unexpected costs are unwelcome. Caretaker’s insurance provides you with a safety net which means that, although unwelcome, these unexpected costs will not have an adverse effect on your operation.
What Does Caretaker’s Insurance Cover?
Caretaker’s insurance can cover a range of risks, including:
- Public liability insurance
- Employer’s liability insurance
- Cover for your tools, equipment and other property
- Personal accident & sickness insurance
- Legal expenses insurance
Liability insurance covers you if a compensation claim is made against you by someone who alleges that you have injured them or that you have damaged their property. Employer’s liability insurance covers you when a compensation claim is made by one of your employees. Public liability insurance covers you when the compensation claim is made by a member of the public or a client.
Liability insurance is important because compensation claims can be expensive to settle. Even a minor injury will cost at least a thousand pounds. Serious injuries can cost several hundred thousand pounds. The legal fees to deal with such claims can also mount up.
If you employ anyone, even if they are only employed on a temporary or casual basis, you are legally required to have employer’s liability insurance.
Your tools, equipment and other property could be accidentally damaged or stolen. If you cannot afford to replace them, you might be unable to work. Given this, it’s important to make sure that they are adequately insured.
Personal accident & sickness insurance
Self-employed people don’t get sick pay, so if they are unable to work because they’re ill or have been injured, they don’t get paid. This could mean that they are unable to pay their bills.
Personal accident & sickness insurance pays a weekly benefit if you are unable to work due to injury or sickness. If you’ll never be able to return to your job as a caretaker because of permanent disability, it pays a lump sum which could be used to pay off loans or credit cards, or could be used to pay to retrain yourself so you can carry out an alternative occupation.
Legal expenses insurance
If legal action is taken against you, it can be expensive to defend yourself, even if that defence is ultimately successful. Legal expenses insurance covers you against the defence costs arising from a range of different types of legal action, including:
- Neighbour disputes such as disputes over boundary issues
- Employment disputes such as unfair dismissal tribunals
- Consumer disputes
- Criminal defence costs
- Tax and VAT investigations
Motor insurance is a legal requirement if you are using a vehicle anywhere that the public has access to. There are serious penalties for anyone who uses an uninsured vehicle where insurance is required.
If you’re using your own vehicle to travel between client sites, it’s important to check that your motor insurance includes cover for business use. Some motor insurance policies restrict cover to social, domestic and pleasure use only.