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The Essential Protection: Why Carpenters Need Trade Insurance

Rhino Trade Insurance 02 August 2023

Carpentry is a skilful and rewarding profession. But if you’re in the carpentry game yourself, you’ll know that working on construction sites, renovating homes, or building custom furniture comes with a certain level of risk. In a dynamic and unpredictable work environment, accidents and unforeseen circumstances can occur, potentially leading to significant financial loss. 

This is where trade insurance becomes an indispensable asset for carpenters. In this blog post, we'll delve into why carpenters need trade insurance to protect their livelihoods and ensure peace of mind.

Protection against tool theft, loss or damage

As a carpenter, you work with valuable tools, equipment, and materials daily. These assets can be susceptible to theft, loss, or damage. Trade insurance covers such incidents, ensuring that your tools and equipment are financially protected. Suppose your equipment is stolen from your vehicle, damaged on the job site, or destroyed in a fire. In that case, your trade insurance policy can help cover the cost of replacement or repair, preventing significant out-of-pocket expenses.

At Rhino, we offer excellent additional cover options, especially for your trusty tools. Don't hesitate; protect your tools up to £7,500 today

Cover for potential third-party property damage or injury

Carpentry work involves various risks, including accidental damage to third-party property or injury to others. Liability claims arising from such incidents can result in substantial legal and compensation costs. Trade insurance provides liability coverage, protecting carpenters against these potential risks. 

Whether you accidentally damage a client's property during a project or a passerby gets injured due to a construction-related accident, having trade insurance can help cover legal expenses, medical bills, and compensation claims. This coverage safeguards carpenters from the financial burden of such incidents, ensuring their reputation and business continuity.

Public Liability Insurance from Rhino Trade Insurance is the backbone of every trade insurance policy. This protection is paramount for your business interests and can be taken out from £1 million to £5 million depending on the size and shape of your operations. 

Covering yourself against Personal Injury

Carpentry work often involves physically demanding tasks, working with heavy tools and machinery. Despite taking necessary precautions, accidents can happen, leading to personal injury, and as a self-employed individual or business owner, being unable to work would be financially disastrous. 

In such cases, trade insurance can provide protection for medical expenses, including hospital bills, surgeries, medications, and rehabilitation costs. This cover not only ensures that carpenters receive the necessary treatment promptly but also safeguards their financial stability during your recovery period.

With Rhino, you can opt to cover your back and receive a lump sum payment in the event you suffer a personal injury on-site or outside of work. 

Safeguarding your services

Carpenters may need professional indemnity insurance to protect themselves against claims of professional negligence or errors in their design or consultancy services. There are various reasons why you should consider adding Professional Indemnity to your policy which include: 

  • Protecting against financial loss
  • Safeguarding professional reputation
  • Contractual requirements
  • Ensuring confidence in your own work

Ultimately, this cover is for your own business's protection and ensures you could survive a financial scare if legal action were ever brought forward. For example, if you provide design services for a construction project and an error in your design leads to costly delays or rework, the client may seek compensation for their financial losses. With Rhino Trade Insurance, our Professional indemnity insurance helps cover the expenses involved in defending against such claims and potentially paying out compensation, reducing the financial impact on your business.

Find out everything you need to know by visiting our online webshop

Covering your employees

Carpenters may need Employers' Liability Insurance if they have employees or hire subcontractors to work for their business. In the UK, it is a legal requirement for companies that employ workers. It is mandated to protect employees' rights and ensure that they receive compensation if they suffer work-related injuries or illnesses. Failing to carry employers' liability insurance when required can result in significant penalties and legal consequences.

Carpentry is a dangerous trade that means employees can sustain injuries on the job, and employers' liability insurance covers their medical expenses, lost wages, and rehabilitation costs. This insurance helps ensure that employees receive the necessary care and support in case of work-related injuries or illnesses.

If an employee is injured or falls ill due to work-related activities, they may file a compensation claim against their employer. Employers' Liability Insurance covers the legal costs and compensation payouts associated with such claims. Without this insurance, a carpenter would be responsible for covering these costs out of their own pocket - which could be extremely challenging indeed. 

Find out how easy and straightforward it is to add Employers' Liability Insurance to your policy with Rhino here

Why Choose Rhino Trade Insurance?

Rhino are the trade insurance experts in the UK, and have won multiple awards for our services. 

Carpenters face a range of risks and uncertainties in their profession. From property damage to liability claims and personal injury, the potential financial repercussions can be significant. Trade insurance from Rhino acts as a safety net, providing essential protection and peace of mind.

By safeguarding against unforeseen events and offering comprehensive coverage tailored to their specific needs, Rhino’s trade insurance ensures that carpenters can focus on their craft without worrying about the financial consequences of accidents or unexpected circumstances. It's an investment that not only protects their livelihoods but also reinforces their professionalism and commitment to their customers.

Call us for a quick chat on 0116 243 7904 and speak with a friendly Rhino team member right now to get your cover sorted. Alternatively, use our helpful online quote tool

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