What Insurance do I need as a Self-Employed Plumber?
As a self-employed plumber, you will understand the significance of a good day's work. Whether you're re-plumbing a bathroom, fitting new pipework or flushing out a water system, it's the minor details that make a job right. As you're running your own business, you'll understand the need for a quality plumbing insurance policy to be the glue between yourself, your work and your customers.
Trade Insurance for a self-employed plumber needs to be as tight as a radiator valve. So that's where Rhino Trade Insurance comes to the table. We have created some of the best insurance policies for plumbers in the. But what insurance do you need? Let's explain now.
Plumber Public Liability Insurance
If you are a self-employed plumber in the UK, it's highly recommended that you get yourself covered by some form of plumbers Public Liability Insurance. Public Liability Insurance is a trade professional best friend and our most popular type of insurance for self-employed tradespeople. It protects you if you cause damage to a customer's property, injury to a member of the public, or worse, cause accidental death due to your work.
It's not all doom and gloom, and we don't want to play down your work. We understand that most plumbers in the UK take the utmost quality and care in their work. However, you can never fully guarantee that your day will go as smooth as you plan - we all have a mistake in us from time to time. It's a plumber's Public Liability Insurance policy that will safeguard you against a potential claim.
For example, an often common claim we see made against a plumber's insurance is water damage to a customer's home. If this happens, the customer in question could launch a claim against your business and be due compensation to rectify the damage caused. With Public Liability Insurance, the financial side of the claim will be taken care of so you don't have to pull your hair out wondering how you cover the potential thousands of pounds worth of costs.
Tools In Transit Insurance
Another policy that plumbers go for is Tools In Transit Insurance. Like all self-employed tradesmen, plumbers have an abundance of tools at their disposal - usually stored in their work van. These tools are critical for you to do your jobs, and if you considered the eye-watering cost it would take to replace every single piece of equipment if they were nicked, you'd wish you had set up Tools in Transit cover with Rhino.
This type of plumbers insurance policy offers to replace any stolen or damaged tools whilst on a job. So it pays to consider adding this form of insurance to your policy.
Tools In Transit Insurance by Rhino starts at just £3.75 a month - a steal if we ever saw one!
Find out the best ways to keep your tools safe now!
Tax Enquiry Insurance
As a self-employed tradesman in the UK, your business is open to tax enquiries or disputes from HM Revenue and Customs (HMRC) at any given moment. You might feel pretty aggrieved if this were to happen as a law-abiding citizen who pays their taxes, but it's a fairly routine procedure that the government enact.
If HMRC comes knocking on your plumbing businesses door wanting to conduct a tax enquiry, they may conclude that more tax should have been deducted and open a case against you. That's why when seeking out the best possible Plumbing Insurance cover, you consider having Tax Enquiry Insurance as part of your cover.
What does it do for me? Well, it covers the costs of a tax expert representing you if an enquiry is opened against you. At Rhino, we handle all of the HMRC's questions about your business and seamlessly manage your defence so that there's no added cost to you.
With Rhino, our Tax Enquiry Insurance starts at just £35 a year and can come in real handy if the tax man sniffs around.
Professional Indemnity Insurance
Running your own plumbing business can be a stressful task to undertake, so dealing with any insurance claims could be a real pain. As a trade professional, you will undoubtedly take pride in your work, hoping that the customer is thrilled with the outcome. Sometimes this isn't the case, and clients may be a bit peeved with the result. If you happen to have given some bad advice or the quality of your work isn't up to scratch, you may be liable to a claim against your business.
A customers claim may turn out to have no grounds for complaint. However, having Professional Indemnity Insurance as a tradesman will cover your back should a claim of this nature arise. As a plumber, you will have various tools in your box, and that's what Professional Indemnity Insurance is. It's a great tool to have in your back pocket.
With Rhino Trade Insurance, we offer tailored plumbing insurance to thousands of self-employed people around the UK. Our Professional Indemnity Insurance starts at just under £20 a month - a bargain if you ever faced a claim.
Want to know more? You can read this article, 'What Professional Indemnity Insurance Is' for more information.
Personal Accident Insurance
It is a vital piece of cover for any tradesperson! In an industry that's rife with hazards and dangerous tools, you are always just one step away from an accident. That's where Personal Accident Insurance saves the day. If you accidentally injure yourself and cannot work, you'll lose crucial income, which will impact your livelihood.
Having Personal Accident Insurance as a plumber helps provide you with a lump sum payout to your chosen indemnity if you are injured and can't work. It's specifically designed to protect you against loss of earnings and cover bills or expenses whilst you are out of action.
A policy with Rhino Trade Insurance would cost you just £89 for the year - a drop in the ocean if you happened to be unable to work.
That's all, folks. Join Rhino Today
At Rhino, we pride ourselves on giving the best possible cover to all tradesman in the UK. Not only do we have thousands of positive reviews, we office quality trade and plumbing insurance for a cracking price.