What is sole trader insurance?
Sole trader insurance provides tailored cover to individuals who run their businesses as exclusive owners. Accidents could happen on the job at any time, and you may damage a client’s property, inadvertently injure somebody, or even cause financial loss due to advice you’ve given as a consultant. This is where our sole trader insurance package comes in, ensuring you and your business are protected if somebody takes legal action against you.
Why do you need sole trader insurance?
Running a business all by yourself is no mean feat. Aside from all the labour, you also have to contend with keeping detailed financial records, ordering in supplies, and all the other administrative mayhem that comes with being a sole trader. You don’t want the aftermath of an accident to be added to the mix. If a client or member of the public claims they’ve been physically injured or suffered financial loss due to your work, they may demand compensation and you could be forced to foot a hefty bill. And as a solo enterprise, it’s on you and you alone to pay the price. With Tradesman Saver’s insurance package, there’s no need to worry because you’ll be covered in all worst-case scenarios. Get a free quote on sole trader insurance from us today.
How our sole traders insurance works
Complete our simple quote form with basic details about your business
Get a Quote
Get an instant quote & choose any optional covers you may need
Instantly activate your Tradesman Saver policy and view your certificates online
Tradesman Saver’s Sole Trader Public Liability Insurance
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)
While there are many insurance options for sole traders, public liability is arguably one of the most important. This covers you if you injure a client or member of the public, or damage somebody’s property while working. For instance, you could face legal action if somebody trips over your building materials while they’re out on a public pathway, or you damage a parked car while transporting materials onto a worksite. These claims could be very costly, but public liability cover ensures you’re not burdened with these expenses. We offer this as part of our sole trader insurance package, which also covers you for financial loss, legal expenses, and more.
Some sole proprietorships are a team of one. But if you have taken somebody else on, you are obliged by law to have employers liability. This will protect you and your business against claims from employees should they be injured, fall ill, or suffer damage or loss on the job. Another crucial cover for sole traders is personal accident insurance, which provides financial support should you become injured and cannot work as a result. As you’re solely responsible for your business, this ensures that it remains safe while you are unable to oversee day-to-day affairs. You should also think about getting professional indemnity insurance if you’re in the service industry, or dispense advice in a consultancy role. This will cover you should any clients suffer financial loss as a result of your work, such as incorrect advice about investments. Here at Tradesman Saver, our expert team can help you choose the cover you need as a sole trader. Get in touch today to create a tailor-made insurance package.
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We like to keep things simple. Your quote, purchase and documents are all available online, anytime.
Cashflow is important to every business. Spread the cost by paying in easy monthly instalments.
No need to wait for your documents. Our tradesman cover starts from the moment you purchase.
Public liability, products liability, financial loss, legal expenses and accidental death cover as standard.
Sole Trader Insurance: Frequently Asked Questions
What does sole trader insurance cover?
Sole trader insurance is made up of several essential policies. Here at Tradesman Saver, public and products liability, financial loss, accidental death, and legal expenses are included in all of our sole trader insurance packages. You can also choose to add any of the following optional covers: employers liability, professional indemnity insurance, short term income protection, cover for business contents, personal accident cover, tools and equipment insurance, and contractors’ all risks.
What information do I need to provide for sole trader insurance?
To apply for sole trader insurance, you’re required to provide basic information like your name, address, and occupation, as well as details of any previous insurance claims. We also need to know how large your business is, including your annual turnover, and how many people you employ.
How much does sole trader’s insurance cost?
Our sole trader’s insurance packages start from £53 and includes the automatic and optional cover mentioned above. Factors such as your business sector, the size of your clients, and what type of package you need will affect the final price.