Even if you’re fully trained and have been working as an upholsterer for a number of years, the unexpected can still happen.
An employee or a member of the public might claim compensation from you if they have been injured as a result of an accident that they feel was caused by you. Your property could be damaged or stolen. You may become unable to work due to an injury or illness. You might be facing a large legal bill as a result of legal action.
Sadly, we don’t live in a risk-free world. Upholsterer’s insurance protects your business from these unexpected costs. So, what does it cover?
Liability insurance covers you if a compensation claim is made against you because someone has been injured or has had their property damaged and they feel that you are responsible. As well as covering any compensation award, it also covers the associated legal costs incurred to deal with the claim.
Employer’s liability insurance covers claims made by your employees. It is a legal requirement to have employers’ liability insurance if you employ anyone.
Public liability insurance covers you if a member of the public makes a compensation claim against you. It is not a legal requirement to have public liability insurance, but because compensation claims for serious injuries can cost in excess of £250,000, no business should consider operating without it.
Public liability insurance usually includes products liability insurance. This covers you for compensation claims made against you as a result of an injury or damage that was alleged to have been caused by a product that you have sold or supplied.
You should ensure that your public and products liability insurance includes a financial loss extension because some policies exclude cover for claims involving purely economic losses.
If you undertake manual work away from your business premises, you should make sure that is covered.
No matter how careful you are, accidents happen. And no matter how much security you have, thefts occur. You should make sure that you have insurance against accidental damage and losses due to theft covering:
- Your buildings and contents
- Your tools, equipment and materials
- Clients’ property on your premises for which you are responsible
Personal accident & sickness insurance
If you are unable to work because you have fallen ill or been injured, you won’t be able to earn money. Personal accident and sickness insurance means you will still be able to pay your bills. It pays a weekly benefit while you are unable to work or a lump sum if you are permanently unable to work.
Legal expenses insurance
If you find yourself involved in legal action, the legal costs can quickly mount up. You can protect yourself against unexpected legal costs via legal expenses insurance. It covers the legal costs incurred as a result of a number of different types of legal action, including:
- Neighbour/customer disputes
- Criminal charges
- Employment tribunals
- Tax/VAT inspections
Motor insurance is a legal requirement if you use a vehicle anywhere that the public can access. Using an uninsured vehicle can result in serious penalties and even the confiscation of your vehicle.
Is you are using your own private car for business use it is important to check that your motor insurance does not exclude cover for business use. Some motor insurance policies only cover social, domestic and pleasure use.