Sole Traders Insurance
Cheap sole trader insurance that you can rely on
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Quick Online QuoteTradesman Saver’s Sole Trader Insurance Cover?
Our standard cover is:
- Up to £5 million cover for public and products liability
- £10,000 cover for any financial loss (£50K cover optional)
- Worldwide liability cover for temporary work abroad for up to 14 days (excluding the USA and Canada)
Sole trader insurance helps keep your head above water financially if you’re impacted by unfortunate incidents like injury or theft. The premium sole trader insurance package from Tradesman Saver provides you with comprehensive cover, including public liability insurance, products liability insurance and employer’s liability insurance. This means you can do what you do best without worrying about the financial consequences of any accidents.
Why do you need sole trader insurance?
Although being a sole trader offers benefits like being your own boss and complete ownership of profits, you still have to think about the potential for things to go pear-shaped.
With a sole trader insurance policy from Tradesman Saver, you’ll have a safety net should anything go awry. What’s more, you’ll be a lot more attractive to prospective clients, as this helps to prove that you’re trustworthy.
Here at Tradesman Saver, we offer affordable sole trader insurance to ensure that everyone can get the cover they need. To create a tailor-made policy today, simply fill out our online form.
What’s included with our Automatic Cover
- Public LiabilityLearn more »
- Financial LossLearn more »
- Products LiabilityLearn more »
- Legal ExpensesLearn more »
- Accidental DeathLearn more »
Learn more about our Additional Cover Options
Never settle for less. Find superior van insurance today. Complete our quote form and we will search insurers to give you the cheapest quote based on the information provided.
How our sole traders insurance works
Complete our simple quote form with basic details about your business
Get an instant quote & choose any optional covers you may need
Instantly activate your Tradesman Saver policy and view your certificates online
Understanding public liability insurance for sole traders
When looking for a sole trader insurance policy, you’ll come across various terms. But perhaps the most common is ‘public liability cover’, and for good reason. Forming the basis of most insurance policies, it protects you if you’re sued for causing injury or property damage to third parties. Among the scenarios it will protect you in include:
- Scratching the paint off a client’s car after accidentally catching it with a piece of wood.
- Injuring a member of the public after they trip over your toolbox.
- Ruining a customer’s carpet after spilling coffee on it.
Why do you need sole trader public liability insurance?
Public liability insurance is vital for two main reasons. The first is that it protects your business against expensive compensation claims and legal expenses because of injury or property damage caused while working. Having this cover could be the difference between your company folding or not.
The second reason is that public liability insurance helps you to attract customers. People will be much more willing to work with those with a comprehensive insurance policy, as it shows that the tradesman in question takes their safety seriously and is therefore more trustworthy.
How much does sole trader insurance cost?
How much your sole trader insurance costs is impacted by aspects such as how big your contracts are, your experience and your claims history. The type of cover you opt for can also help determine the price.
Here at Tradesman Saver, our policy for sole traders includes a few extra covers as standard, including legal expenses, financial loss and accidental death insurance. Consequently, you’ll get some of the most comprehensive cover on the market.
Sole trader insurance quote examples
£58.76 / year A bricklayer working as a sole trader on domestic and small commercial properties not exceeding 10 metres in height - Bricklayer
- Sole trader
- No employees
- 5 years experience
- Based in Newcastle
- No claims
Automatic Covers
- Public Liability £2,000,000
- Financial Loss £10,000
- Products Liability £2,000,000
- Legal Expenses £250,000
- Accidental Death £10,000
Optional Covers
- Business Contents Not Insured
- Personal Accident Not Insured
- Employers Liability Not Insured
- Tools / Equipment Not Insured
- Contract Works Not Insured
- Professional Indemnity Not Insured
£45.28 / month £514.60 / year A plumber working as a sole trader on domestic and small commercial properties - Plumber
- Sole Trader
- No employees
- 1 years experience
- Based in Surrey
- No claims
Automatic Covers
- Public Liability £2,000,000
- Financial Loss £10,000
- Products Liability £2,000,000
- Legal Expenses £250,000
- Accidental Death £10,000
Optional Covers
- Business Contents Not Insured
- Personal Accident Not Insured
- Employers Liability Not Insured
- Tools / Equipment £5,000
- Contract Works Not Insured
- Professional Indemnity Not Insured
The above quote examples were taken from our online system on 07/04/22. These are real quotes but your own personal quote will vary dependent upon your circumstances and the level of cover you require.
| Insurance cover | Excess |
|---|---|
| Public Liability | £250(£500 for plumbers) |
| Products Liability | £250(£500 for plumbers) |
| Employers Liability | No Excess |
| Financial Loss | 10% of claim value(£2,500 minimum) |
| Professional Indemnity | 10% of claim value(£2,500 minimum) |
| Contract Works | £250(£500 Theft/Malicious Damage) |
| Tools / Equipment | £100(£250 Unattended vehicle) |
| Legal Expenses | No Excess |
Chosen by over 5000 businesses and counting *
Online & Anywhere
We like to keep things simple. Your quote, purchase and documents are all available online, anytime.
Monthly Instalments
Cashflow is important to every business. Spread the cost by paying in easy monthly instalments.
Instant Cover
No need to wait for your documents. Our tradesman cover starts from the moment you purchase.
Added Protection
Public liability, products liability, financial loss, legal expenses and accidental death cover as standard.
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Sole Trader Insurance: Frequently Asked Questions
Do I legally need sole trader insurance?
Strictly speaking, you don’t require sole trader insurance by law unless you hire employees. In this case you’ll need employer’s liability insurance. However, getting sole trader insurance is not only a great financial decision, but will give you a much better chance of attracting clients.
How much sole trader insurance do I need?
How much sole trader insurance you need is affected by aspects like how dangerous your jobs are, the size of your contacts, and the cost of your equipment. We can help you work this out if you’re uncertain.
What additional covers might I want on my sole trader insurance policy?
Other covers you might want to consider include tools insurance for your all-important tools, van insurance for your vehicle and business contents cover for equipment like PCs and phones.
What limit of indemnity will I require?
The indemnity limit is the maximum an insurer will pay in the event of a claim, with the standard limit being £1,000,000. However, some of your contracts may require you to have a higher limit, or it may be a condition of your professional association or trade body membership.
How do I make a claim on my sole trader insurance policy?
To make a claim on your sole trader insurance policy, you first need to get a form from your provider. When filling it out, check that you’re within the time limits for making a claim and that your policy covers what you’re claiming for. You should also see what the excess is so you’re aware of how much contributing towards the claim.
Which details do I need to provide to get a quote?
The main information you’ll need to give when obtaining a sole trader insurance quote is your name, address and the type of work you undertake.
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