There is a question which keeps Leicester’s homeowners up at night, and that is, “Should I hire a painting contractor, or do it myself?”
Specific Types of Business Insurance for Tradespeople
It's essential that you analyse the types of cover you may require when thinking about business insurance. Public Liability Insurance is necessary if you engage with the general public, Employers' Liability Insurance is a legal necessity for all firms with employees, and Professional Indemnity Insurance will be beneficial if your company offers advisory services.
Considering the kind of work you perform and the risks you need to insure against will help keep your business in a sound state. Facing claims from an unhappy client due to damages or owing compensation because of a negligent act will be handled swiftly and seamlessly with the right insurance. Let's take five minutes and explore what trade insurance your business needs.
Specific trade insurance we offer:
The team at Rhino has designed bespoke insurance policies to fit the various trades we cover. Here is a list of some of the more popular trades we offer protection for, but if you don't see your profession, get in touch, as we may be able to tailor cover specifically for you.
- Electricians Insurance
- Plumbers Insurance
- Carpenters Insurance
- Bricklayers Insurance
- Builders Insurance
- Plasterers Insurance
- Painter and Decorator Insurance
- Joiners Insurance
- Heating Engineers Insurance
- Gardeners Insurance
- And many more
Public Liability Insurance
Public Liability Insurance is an important element to consider whenever your company interacts with the general public, whether on your property or somewhere else. You can be protected from third-party compensation claims resulting from harm or loss brought forward by clients, customers, suppliers, or other parties. 99.9% of businesses will purchase a level of this insurance due to the safeguards it promises. To determine if a specific level of Public Liability Insurance is expected, check your client contracts before agreeing to any work or going on-site.
For more information on Public Liability Insurance and how it can benefit your trade company, read all about public liability insurance in a nutshell.
Employers' Liability Insurance
If your company has employees, you're required by law to obtain Employers' Liability Insurance. This handles claims for compensation made by employees who have been hurt or gotten ill due to their work. Certain businesses, particularly those that only hire immediate family members, are excluded from this rule. In the trade industry, risks are always apparent, so it's not worth gambling your livelihood. Without this cover, you will face fines of up to £2,500 per day.
Find out everything you need to know about Employers' Liability Insurance by getting a quote today.
Professional Indemnity Insurance
Professional Indemnity Insurance is crucial if your company gives guidance/ advice or offers a professional service to other businesses. It also helps if you work with client data or intellectual property. Professional Indemnity Insurance can pay for the legal fees and compensation claims if you make a mistake in your job that leads to your client losing money and suing you.
For more info on Professional Indemnity Insurance, read our blog post here.
If your tools are broken or lost, usually as a result of theft, Tool Insurance can support you in covering the replacement costs. For thousands of tradespeople who depend on their tools on a daily basis, it can be the choice between accepting a contract and halting your work.
Ensure you're covering the tools you need to work, whether that involves expensive power tools or specialist equipment that are vital for your job. Rhino's insurance policies can protect tools up to £10,000, which is a considerable amount of money if you suffer theft. Get a quote today.
Personal Accident Insurance
Serious harm or death caused by accidents are compensated for by taking out a quality Personal Accident Insurance policy. Rhino Trade Insurance policies cover lost wages, hospital bills, and medical expenses. With Rhino, you can get a £50,000 maximum lump sum settlement, hopefully seeing you through the worst stages of your accident. Our cover even protects you if an accident happens outside of work.
Personal Accident Insurance is extremely popular for self-employed tradesmen and women, so find out more about this insurance option today on the Rhino website.
Contractors All Risks Insurance
This insurance is a vital addition to a public liability or employer's liability policy. Contractors All Risks Insurance helps protect building contractors and developers against any physical damage on-site or loss on a construction project, including damage to the actual build or extension. This can be done whilst it is under construction and also protects plant, machinery and materials stored on-site that will be used during the build.
At Rhino Trade Insurance, you can decide on the correct indemnity limit that fits your building company. We can offer between £10,000 and £250,000 worth of protection depending on the size of your projects. Please find out more about this valuable policy by reading our blog here.
What else can you get cover for
On top of all the above policies, you can add various other priceless insurance options, such as Legal Expenses Insurance. This protects you if your business comes up against legal disputes or risks. This cover will provide you with the necessary legal support and guidance to help you avoid these problems if they arise. When these problems cannot be avoided, it will give you the defence you deserve without worrying about paying hefty legal fees. Also, you will be compensated for any income you lose as a result of being called for jury duty.
Tax Enquiry Insurance also has your back when any self-employed individuals or business owners suffer a tax enquiry, even if it's through no fault of your own. It is crucial to secure skilled representation if HMRC comes sniffing around because the price of defending against such investigations could be substantial. Our cover can protect you for up to £50,000 in expert/accounting fees to work on your case.
Lastly, your gadgets are crucial to the running of your business and, therefore, can be safeguarded against theft, loss and damage. With Rhino, the price of repairing or replacing your electronic gadgets when they are broken, lost, or damaged is covered by Gadget Insurance. All your devices can be insured under this single policy, providing you with the protection you want all in one place.
Why choose Rhino Trade Insurance?
We provide affordable trade insurance policies that can be taken out with flexible, interest-free monthly payments. Our award-winning, five-star team is available six days per week and can help create a policy tailored to your precise business requirements.
For answers to your question or further information, contact Rhino Trade Insurance on 0116 243 7904 or visit our website. Here, you can quickly get a quote for your trade insurance policy.