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A Guide to Builders Insurance

Rhino Trade Insurance 19 September 2022

Do you work in the construction industry, building beautiful structures, laying foundations and designing bespoke brickwork designs? Then this builder insurance guide is for you! The team at Rhino have come up with everything you need to know regarding getting yourself and your business insured. 

What's Public Liability Insurance? Why should you insure your tools? Offer designs and want protection? We have this and much more. Just grab a brew and read on now. 

Why do you need builder insurance? 

Builders insurance comes in different shapes and sizes depending on your business size. You may be looking to protect yourself from damage or injury. Or, you may want to protect your tools, any employees that work for you or give yourself peace of mind by protecting your business from any potential legal disputes.

Builders insurance just makes business sense. It's vital to have the right level of insurance to help alleviate any financial worries you might may should something go wrong. Everything in the trade is a potential hazard, and one wrong move could leave you or your business in trouble. Having your insurance with Rhino Trade Insurance will help you sleep easily, knowing that you will be covered should something go wrong.

What does builder insurance cover?

Rhino Trade Insurance prides itself on offering the best possible insurance available to the trades. With over 20 years of experience behind us, we've come up with tailored insurance policies for almost every trade imaginable. 

Let us run through some of the builders' insurance products that can help protect your business:

If you are out on the job and cause damage to a customer's property, injure them whilst doing your work or cause accidental death, then having Public Liability Insurance will cover you for any compensation owed (up to your chosen level of cover). It's the most popular and downright smartest piece of insurance you'll ever own. 

If you employ staff members, no matter if it's one or one thousand, you are legally required to hold Employers' Liability Insurance. It is designed to protect you similarly to Public Liability Insurance, only this time, if one of your staff members causes damage, or injures a client or themselves, you are covered. 

An extremely popular add-on to our Public Liability policies. Any building contractor or company that suffers from loss or damage to the physical site will be covered. This also goes as far as to protect any machinery, plant or materials on the site. 

If you offer advice, designs and plans for a project in your building business and somehow neglect information causing the client to lose money, you could be held liable. This type of insurance will cover you in this scenario. 

Tool Insurance is a real savour in a world of rising tool theft. It's been found that, on average, £137,000 worth of tools are stolen each day in the UK. Having Tool Insurance will protect your most important pieces of equipment so that if you are the subject of theft, you won't be out of work for long as they will be replaced. 

If you find your building business in a spot of trouble and need help paying for any legal costs, then this insurance will do wonders for you. You could be in dispute over a property, have employment issues or have trouble with your tax. We'll cover your back in this case. 

Is Public Liability Insurance valuable for a builder?

We all know how dangerous the building industry is, and it's because of this reason we create the insurance that we do. You need to be protected in the event that something goes wrong. You also owe it to your clients and the general public to protect them if a mishap occurs. Without insurance, you are taking a considerable risk and could find yourself legally and financially in all sorts of trouble if you ever face a claim. 

Although Public Liability Insurance for builders is not a legal requirement in the UK, that doesn't mean it's unnecessary. If you caused damage to a client's property and were uninsured, you would have to foot the bill yourself which could be the last straw for your business. 

Accidents can always happen, even with the most careful tradesperson going. On top of just protecting you financially, having a proper Public Liability Insurance document for your business can help unlock new customers and contracts. To put it bluntly, no reputable body or contractor will touch you without the appropriate level of insurance. You can never be too careful!

On top of this, your regular, daily customers may also request proof of insurance. It's their right to check at the end of the day. That's why it's worth checking out Rhino's builder insurance options now. We are, on average, up to 40% cheaper than most industry competitors, with prices starting at just £6.07 a month and are dedicated entirely to the trades. 

Get a Quote now.

What about Employers' Liability Insurance?

Employers' Liability Insurance is an excellent piece of insurance for protecting any staff members you employ. And don't forget, it's also a legal requirement for businesses that employ just one individual. 

As a builder, you may employ workers as you generally work on more significant projects. If you venture out to your next building site with a staff member and don't have Employers' Liability Insurance, you could face a whopping fine of £2,500 a day! This can even be backdated for however long you have had an employee and been uninsured!

Here at Rhino Trade Insurance, we have made it as simple as possible to add this insurance to your current policy. If you want to protect your business in case, an employee causes damage or injury on site, then find out more about our popular insurance product now

How much does builder insurance cost?

Builders insurance should cost you an arm and a leg. We aim to get you insured at the best possible price, generally up to 40% cheaper than most of our competitors. 

We will ask you a few basic questions and present you with your business quote. You can expect:

  • Turnover
  • Business size
  • The trade you work in

After gathering this information, our innovative software calculates the best price for your insurance. We won't waste your time and are confident you'll be happy with what we offer.

How do claims work?

When builders and other trades consider trade insurance, they often ask us about our claims process. This couldn't be more seamless than with Rhino Trade Insurance. 

Our claims team has developed a quick and effective way to ensure that your claim can processed and paid within 24 hours! 

To find out more about our claims process and alleviate any worries you may have, please check out how easy it is here. Also, feel free to browse our one-stop page showing you how the process is taken care of. 

Finally, we have thousands of happy, insured tradespeople in the UK. Check out all of our reviews here to set your mind at ease on our service and claims. 

Why Choose Rhino Trade Insurance?

Builder Insurance shouldn't be difficult to take out. That's why our amazing team based in Leicester has created a super-quick online quote system because time is money in the trades. Get yourself a quote in under a minute, or call us on 0116 243 7904.

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