What add-on policies can I combine with my Professional Indemnity cover?
As a self-employed tradesperson, there are a few policies that you’d benefit from having in place alongside your Professional Indemnity cover.
Public Liability Insurance - This really is an essential policy. If you come into contact with your customers or the general public (and what tradesperson doesn’t?!) then you’re going to need Public Liability cover. This protects you in case of accident or injury to someone around you while you’re on the job – it also covers property damage.
Employer’s Liability Insurance - Speaking of essential, if you employ anyone in any capacity, then the law requires you to have Employer’s Liability Insurance. You may know that you’ll get heavy fines from the government if you need it but don’t have it, so this is another policy not to skimp on.
Income Protection Insurance - As a self-employed worker, you have no protection in place should you fall ill, or become injured and unable to work. Income Protection Insurance is another must-have for any tradesperson, as it will give you the financial means to keep your home and business ticking over while you recover. This is usually in the form of a monthly pay-out – a total lifesaver while you’re laid up unable to earn.
Personal Accident Insurance - On the subject of unfortunate events, an accident which leaves you unable to work for a period of time can be devastating to a self-employed contractor. Personal Accident Insurance is a smart choice to add onto your Professional Indemnity cover. PA insurance will give you a lump sum to help you cope financially during this difficult time.
Many tradespeople are breadwinners, so this really would save the day if something unfortunate were to happen.
Tools in Transit cover - Given the rising rates of tool theft here in the UK, tools insurance is another important policy that can be added onto your Professional Indemnity cover (or any other tradesperson policy you choose). Knowing that your tools, if stolen, can be replaced quickly and without you having to bear any cost (apart from the policy excess), offers valuable peace of mind to tradespeople
Luckily, Rhino can provide you with all of the above policies and more, each of which can be included as an add-on with any policy you take out with us.
Here at Rhino we have a whole range of policies hand-picked especially for tradespeople just like you. We really understand what it’s like to work in a trade, and only offer the policies that tradespeople really need, without any added fluff.