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How much Public Liability Insurance do I need?

Rhino Trade Insurance 15 December 2021

On a daily basis, the team here at Rhino HQ get calls asking a few common questions; I’m a Plumber, how much Public Liability Insurance do I need? I’m a Builder, how much Public Liability Insurance should I have for my business? Or the age-old question: Do I even need Public Liability Insurance? 

The answers to these questions are different each time, depending on the individual situations and scenarios. But there are common threads regarding Public Liability Insurance. which we will explain to you so that you can make an informed decision that will ultimately benefit your business. 

So without further ado, let’s get to it!

How much Public Liability Insurance do I need?

If you are a tradesman or woman looking for Public Liability Insurance, the chances are that you have completed a couple of online forms that feed out several random prices that don’t really make sense. For starters, with Rhino Trade Insurance, we make it simple. You can get four levels of cover for your Public Liability Insurance ranging from £1 million, £2 million, £5 million and up to £10 million on request. 

If your business was to opt for the lowest amount of cover then you would, of course, receive the cheapest premiums available. However, this could leave your business in a vulnerable position should you need to make a claim. If the limit of indemnity you have chosen doesn’t cover the costs of repairs due to the damage caused then it is you, or your business, that will need to foot the bill. Choosing the correct amount of cover is incredibly important.

When working out what level of cover you need, the factors that come into play aren’t set in stone, but we have many levers you can pull that will make up your policy level. Ask yourself these fundamental questions:

  • Is my business high-risk? 
  • Do I deal with dangerous materials on a regular basis?
  • Am I working with hazardous equipment?
  • Or do I come into contact often with members of the public?

All of these factors and more can and will affect the level of indemnity your business will need. Some smaller tradesman businesses may think that £1 million of cover is outrageously high, but you never know what is around the corner. You could be a self-employed builder who accidentally cuts the underline power to hundreds of homes - an accident like that could be a costly endeavour to fix. 

The team here at Rhino Trade Insurance have long worked with the fantastic tradesmen and women up and down the country. We have formed tremendous relationships with various trades and have spent plenty of time honing our Public Liability Insurance policies to fit every trade individual's needs. Our insurance starts at a mere £6.07 a month and can be purchased in less than 60 seconds - you don’t need to give us your life story like other websites. We want you to get the best cover at the best possible price and be back on the job you love as quickly as possible. 

Explore common Tradesman networks to understand more about Public Liability Insurance 

We have witnessed this first hand. Tradesmen and women across the UK love to help each other out. The rise of trade influencers is constantly growing, and helpful tips and videos online are in abundance. It’s the same for anything serious like insurance. We have found many different online forums and groups that have various tradesmen sharing their Public Liability Insurance experiences. We’ve whittled this help down to three main areas:

Industry standards

If you are stuck in a pickle and wondering how much trade insurance you need or what it may cost, our first point of call would be to give one of our experts a ring to talk through any issues or queries that you might have. We’re rated 5 stars by thousands of tradesmen and women throughout the UK who rave about our customer service, so give us a call and our team will be more than happy to help. After that, consider utilising your network. Get online, ask around at the local builder’s merchants or yards and see what other tradespeople or businesses have opted for. 

If you are a self-employed plumber, you most likely wouldn’t need as much insurance as a larger company with ten employees. Ultimately, it makes business sense to search around similar sized businesses to understand what Public Liability Insurance they have and how much they paid so that you can make an informed decision when it’s your time. 

Check your contracts

Another excellent way for tradesmen to gauge what level of cover any customers or clients require is to check your contracts. For example, if you are a carpenter and get regular work from local businesses such as bars or nightclubs, they may need you to have a higher level of indemnity than someone who requires work on a small house. It’s always safer to scale up your level of indemnity than scale down and potentially be in a position where your business needs to find the funds to cover the costs of a job gone wrong. 

Public sector work is similar as well. Local councils and government bodies require a minimum level of cover to be in place before work can begin on a project.

The simple way to tell what you need is to be upfront with your clients or check your contract. If you do find yourself in a situation where more coverage is required, Rhino can increase your level of indemnity at no additional cost. Just give one of the team a call. 

Trade bodies and associations

Like many other industries, various tradesmen will find relevant trade bodies or associations for their chosen industry. For example, you can find the Electrical Contractors Agency for Electricians, Painting and Decorating Association for, you guessed it, Painters and Decorators, or the ‘British Woodworking Federation’ for any Woodworkers or Joiners. When researching these bodies, you may find that they stipulate that their members have a certain level of cover before utilising their name or logo. 

If you are already a member of one of these bodies, you can simply check what level of Public Liability Insurance is needed by logging into your account. It’s better to be safe than sorry if a compensation claim comes your way - it also helps you keep up to date with your trades best practices. 

How can I get a good deal on Public Liability Insurance?

Whatever the size, makeup or details of your trade. The best way to get a good deal would be by getting yourself a quote from Rhino Trade Insurance. We have been found to offer tailor-made tradesman insurance at 40% less than reputable competitors. We don’t mess around taking all of your details, we simply need your trades basic information, and then we can set about finding you the best level of cover. 

If you think this sounds too good to be true, we have built an expert trade UK team based in Leicester that is ready and waiting to speak to you six days a week. Give one of them a call now on 0116 243 7904 or get a quote in 60 seconds now. 

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