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What Type Of Insurance Do Builders Need?

Rhino Trade Insurance 28 February 2022

If you are a UK based self-employed builder looking for trade insurance, then you have come to the right place. Rhino Trade Insurance are one of the best and most cost-effective trade insurers around and have been hard at work creating tailormade insurance policies for a whole manner of trades, including builders.

Public Liability Insurance for Builders

By far and away, the most popular and vital piece of insurance you will need as a self-employed tradie is Public Liability Insurance. This one is in place to cover your back in case you manage to cause damage to a client's property or injure them or a third party in the process. 

As a builder, you are generally a master of many trades, so risks and hazards will present themselves in almost every situation you work on. For example, you could be an absolute superstar builder in your local area. People bring you in due to your skills and expert knowledge. However, everybody has an off day, and for some reason, whilst building a small extension, a wall collapses and causes damages to the current building. Thankfully, with a Public Liability policy in place, your builder's insurance will take care of the claim. 

At Rhino Trade, we are delighted to offer builders cover for as little as £6.07 a month. What's more, you can choose the level of cover needed from £1 million up to £10 million (subject to request). 

To find out more about Rhino Trade Insurance's Public Liability Insurance, why not give one of our helpful blogs a read now

Builders need Employers' Liability Insurance

You might be a building contractor with a handful of staff and be wondering, 'what level of cover do I need for my business?' Well, it's a legal requirement to have Employers' Liability Insurance if you have members of staff that work under your direction or on the job with you. It's designed to protect you and your employees from any damage caused to a property or if one of the employees in question is injured whilst doing the work for you. 

An example of how this policy works is to imagine a staff member building some foundations, and whilst working, he trips over a pile of bricks, twisting his ankle, meaning he needs time off work. The employee could then make a liability claim against you/ your business. If the claim goes all the way to court, you could find an outcome that goes in their favour, meaning that you are expected to pay compensation and legal fees. What's more, if it's been found that you don't have Employers' Liability Insurance, you can be fined up to £2500 for every day you go uninsured. 

That's why it's not worth taking the risk. You are leaving yourself financially exposed without this form of building insurance. Please take a minute and find out more about it here

Contractors All Risks Insurance for Builders

Contractors All Risks Insurance is a big one for most builders who work on decent-sized construction sites. As you can see so far, there are various policies for a builder to insure themselves, all coming with different levels of cover and what they cover you for. 

Contractors All Risks Insurance for building contractors is a vital document if you work with machinery/plant equipment (whether hired or owned) or store building supplies on site. It also will keep you covered as a tradesman for the contract-value or ongoing work on-site is protected. 

In a trade that is rife with accidents caused on the site, the Contractor's All Risks Insurance will cover the builder for the cost of repairing and re-doing any work that is lost through damages.

We have an entire article about this type of insurance and why it would benefit builders. Feel free to take a look at it here. If you are already sold, why not contact one of our UK experts and get a quick and easy quote now.  

Will Professional Indemnity Insurance benefit Builders?

As a builder, you will work on various projects, offering advice, designs and many other services. That's where Professional Indemnity Insurance protects you. 

It is a policy created to cover you for any mishaps in design work, shoddy advice given (even with the best intentions) or losing vital information and data. Should you be offering to design and build a porch and the work impacts the home's structure, you will undoubtedly be facing an insurance claim. That's where this type of insurance can help protect you. 

Even the best of us get things wrong. Just look at Beckham and his cornrows. But none of us is perfect, and that includes tradesmen. In case of an emergency relating to designs or advice, you'll wish you had Professional Indemnity Insurance in place. 

Tools Insurance is a must for Builders.

We cannot stress this enough, but a builder is nothing without his tools. That's not to sound disrespectful. We know you are the maestro. But without your tools, you aren't going to be able to get much done. That's why every tradesman worth their salt should be taking out Tool Insurance

At Rhino Trade Insurance, we cover thousands of tradesmen's equipment all over the UK. Whether that's a DeWalt power drill, Makita chop saw, a sparkies Velocity bag full of gear or a plumber's blow torch. We have the right cover for you. 

Tool Insurance is there to cover up to £10,000 worth of equipment, whether that's the replacement, servicing or just reinstating tools that you have insured in case of loss, destruction or damage whilst doing your daily jobs.

At Rhino, we have a super deal for Tool Insurance for builders. You can get cover starting from just £45 quid a year. Absolute bargain - it's a deal, it's a steal. 

Get in touch with Rhino now. 

Have any more questions? Wondering what price you'll pay and what level of cover you need? Get in touch with one of the lovely team now. We are based slap bang in the middle of Leicester and are ready six days a week to get your builders insurance sorted. 

We also offer the chance to get a fast quote online without entering your life story. Please take a look, and we look forward to providing trade insurance for you. Or just give us a call on 0116 243 7904 

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