What is Tradesmen Insurance?

Rhino Trade Insurance 03 February 2022

Each trade is different. Different risks, different materials, different tools. But all tradespeople have something in common; without a solid trade insurance policy covering their back, they’re left extremely vulnerable.

As a self-employed tradesman, you need to be fully wise to the possible problems you can encounter in your work – and how much they could cost you if you’re not insured.

At Rhino, we’re the trade insurance experts. We see all the comings, goings and trends when it comes to insurance claims made by those working in the trades. Did you know that the most common forms of claims are:

damage to a third party’s property
injuries on-site
tool theft.

These claims are our bread and butter here at Rhino. We see them every day. We also see countless claims for van theft, gadget loss, legal expenses due to tax enquiries, and legal fees for when a client makes a claim for bad practice.

Unfortunately, every time someone makes a claim for any of the above, there is someone else out there kicking themselves for not having cover where they needed it.

Don’t worry, you’re in safe hands. At Rhino Trade Insurance, we have created the best and most varied trade insurance policies for practically every trade in the UK. But if you’re new to all of this, you might be wondering what is Tradesman Insurance, and how can you get covered?

What is Tradesmen Insurance?

Tradesmen Insurance (as defined by the Rhino dictionary) is a form of business insurance for self-employed tradespeople looking for tailored protection from the various risks and hazards associated with their trade.

Rhino are the trade insurance experts. We have handpicked the very best policies that offer the cover tradespeople really need, without any added fluff. We understand exactly what risks you face in your line of work, and our insurance policies reflect that.

Depending on the level of cover you need, you will be able to choose from different levels up to your desired level of indemnity. For example, our Public Liability Insurance cover limit ranges from £1 million to £5 million. If you’re unsure what you need, don’t worry. Our team will help you decide what level is right for your business.

Why is Tradesmen Insurance important?

Let’s start with the number one rule in life: s*** happens.

Have you noticed that by now?! No matter how well we plan, sometimes life just has other ideas. We’ve all seen those hilarious videos on Instagram and TikTok of forklift operators accidentally setting off an avalanche in a warehouse, or the one stray blow that brings the whole structure crashing around the contractor’s ears. Those guys didn’t expect that to happen when they got out of bed that morning – they thought they were in for another routine day on the tools.

The phrase ‘bad day at the office’ really means something when you work in the trades. Remember, unlike people who work for an employer, the job of a self-employed tradesperson just doesn’t come with built-in protection like sick pay and exemption from public liability.

Instead, if something happens which means you can’t work for a while, your van gets stolen or a third party brings a claim against you for injury or damage, you’re left to fight your corner on your own.

As a self-employed tradesperson, you’re taking on risk each and every day, with no-one there to pick up the pieces if it all goes belly up. That is, unless you’re insured.

Do I need Tradesmen Insurance?

Many tradesman insurance policies aren't legally required. As a result, some tradies think they can do without them.

This is what they call a ‘false economy’. In an effort to save a few quid a month, people end up in a situation where they’re suddenly on the hook for a huge sum. Whether that’s a public liability claim, an employee needing compensation, or a load of materials damaged on site, we’re talking about some serious cash that you probably don’t have lying around.

When you consider the risks attached to your daily working life, it seems foolish to avoid paying the comparatively minimal cost of having a policy in place.

In addition, tradesman insurance is a commodity for your business. Having comprehensive cover lets your customers know that you’re responsible, committed and have your head screwed on. Some types of cover – such as Employer’s Liability Insurance – is a legal requirement which will see the government hitting you with a £2,500 per day fine if it’s not in place.

Many local councils and trade bodies also require insurance such as Public Liability Insurance before they’ll work with you. They see uninsured tradespeople as a risk they’re not willing to take.

Here at Rhino, we think every tradesperson in the UK should have the right cover. That’s not just because we’re in the insurance game. Rhino set up shop because we saw how white-collar insurance companies were offering confusing policies with irrelevant details to tradespeople, without understanding the reality of their working lives. At Rhino, some of our family members and best mates work as self-employed contractors, so we know a thing or two about what it takes.

Rhino has designed various policy types for just about every trade you can think of. Our team can quickly assess the potential risks you’re exposed to given the work you do, and will give you a personalised quote in around 60 seconds.

Who is Tradesmen Insurance for?

Are you a self-employed tradesperson or contractor? Then tradesmen insurance is for you.

You will be able to find cover for almost any trade you can think of. Here are some of our most popular trades we provide cover for:

If your trade isn’t on this list – don’t panic. We have a long list of trades we have designed tailored cover for, including carpet fitters, cleaners, car valets, shopfitters stonemasons, cake decorators, sculptors, gardeners and even wheelie bin cleaners. And if you can’t find your niche trade on our drop-down list? Talk to us – we’ll see what we can do.

Get yourself a quick and easy quote via our website now. We don't ask for your life story, just a few simple details like your main trade and company structure (sole trader, limited company or partnership) and your personal contact details. From this, you'll be able to get a price for your chosen protection in less than 60 seconds.

What does Tradesmen Insurance cover?

With Rhino Trade Insurance, you can find cover for pretty much every aspect of tradesperson life. It’s up to you to select the exact types of cover you want, and the levels of indemnity on each policy.

Rhino makes this easy with our suite of no-nonsense policies designed especially for tradespeople.

There are broadly four categories our policies fall under:

Covering loss of income – such as if you have an accident or fall ill
Replacing stolen or damaged property
Covering you in the event of compensation claims
Help for defending yourself in legal cases

Let’s take a closer look at some of Rhino’s most popular policies:

Public Liability Insurance - This is the big one – the core cover every tradie should have in place. This insurance equips your business with the financial protection you need should you cause accidental damage, injury or death to your client or their property whilst on the job. Find out more reasons why you need Public Liability Insurance here.

Employers Liability Insurance – This is a legal requirement, so you don’t have much choice but to get this cover if you employ anyone on-site (including subcontractors and apprentices). Employers Liability Insurance covers your business financially if an employee injures themselves or, worse, dies whilst at work. You’ll get a hefty fine if you don’t have it, and you’ll even be fined if you don’t display your certificate correctly.

Tools in Transit Insurance - One of our most popular cover options after Public Liability Insurance. How often have you seen desperate online posts from people who’ve had their tools/ equipment stolen? Exactly. All businesses looking for Tradesmen Insurance should be considering Tools in Transit Insurance. This one will be there for you if you fall victim to tool theft and you'll be covered up to your chosen level to have them replaced.

Contractors All Risks Insurance - The big one for contractors and construction workers in the UK. This insurance policy is critical for those out on the muddy construction sites working on projects. It offers you cover for any contract value you hold, so if the extension you’re working on collapses in the night, you can claim the cost of the rebuild. It also covers any plant or machinery hired and protects all employees’ tools.

Legal Expenses Insurance - If someone took you to court, would you be able to stump up the legal fees for your defence? This increasingly popular policy offers valuable protection for when a legal challenge is made against your business. Legal claims can vary from disputes over the property, to the recovery of any debts owed. Legal Expenses Insurance will save your bacon should you ever need to be defended from a claim of this nature. Want to know more? Check out our blog on why you need Legal Expense Insurance now.

Tax Enquiry Insurance - A popular one for those 'safe as houses' type tradesmen who worry about a potential tax enquiry from HMRC, especially given recent tax status changes. Defending yourself against an enquiry can be costly and time-consuming, but this form of cover helps to protect you financially if HMRC comes knocking and launches an investigation into your tax status.

Personal Accident & Income Protection Insurance – If the last two years have taught us anything, it’s that tradespeople are at a disadvantage when we need to take sick leave. In the trades – if you don’t work, you don’t get paid.

That's where Personal Accident Insurance comes in. This type of trade insurance is there for any self-employed tradesperson who can't work due to injury or sickness. If you miss work and lose out on income, you can claim for a lump sum payout to help offset any costs incurred from losing work or from medical bills.

Income Protection is also an invaluable policy to have in place as it covers long-term sickness. Suppose you are unable to work due to sickness or ill-health. We’re all human – it could happen to any of us. In that case, Income Protection Insurance helps to alleviate any lost income and provides indemnity to your chosen level for up to 12 months of sick leave.

How much does Tradesmen Insurance cost?

Tradesman insurance, like all forms of insurance, comes with a varying price tag.

Rhino Trade Insurance are the experts in finding the very best policies at the very lowest prices. Each policy is tailored to you and your trade, and you don’t have to pay for irrelevant cover that you don’t want or need.

When we give you your quick quote, Rhino need to consider your location, what type of work you undertake, the size and structure of your business, if you employ anybody and how many, what contract sizes you get, and what equipment you use for work.

This could give each tradesperson a different price. To get an idea, though, our Public Liability Insurance starts at just £6.07 a month, our Tools In Transit insurance starts at a mere £45 a year, and our popular Income Protection Insurance can be opened from £5.52 per month. You won’t find cover this good any cheaper.

Trade insurance doesn’t come for free – but we believe our prices are some of the lowest around. Not only this, but our policies are straightforward, comprehensive, and don’t hide behind legal jargon that nobody understands. You always know what you’re paying for, without any sneaky rolling interest fees for paying for your policy monthly, for example.

We also don’t charge admin fees to add another policy to your existing ones, unlike some big names in insurance we could mention.

We have provided cover for thousands of tradespeople across the UK, and it’s safe to say they like what we offer. You can see what they say about us here. It's not just the Ritz that has a 5-star rating!

Why Choose Rhino?

Rhino Trade insurance are industry leaders in the UK for low-cost, high-quality trade insurance. We’ve won multiple awards for what we do, and our hundreds of glowing customer reviews speak for themselves.

We cut out the BS and get straight to the point. You don’t have time to spend going round in circles and decoding misleading claims and offers. You want to get on with the job at hand, while feeling safe in the knowledge that if anything happens during the course of your day, you won’t be left high and dry.

At Rhino we don’t punish our customers for wanting to pay their premiums monthly. Some insurers charge interest every month for policyholders who want to spread the cost – not Rhino.

We don’t ask for your life story when giving you a quote. We just need the key details about your business, and your details such as your name and telephone number. Our straightforward and quick quote engine is one of the fastest ways there is to get an accurate quote for your trade insurance cover. Try it now.

If you’d rather talk, call us on 0116 243 7904. Our friendly team are based in Leicestershire, UK and are available to talk on all things trade insurance six days a week (on Sundays we need a rest!).