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INSURANCE FOR BUILDERS
There are around 100,000 self-employed builders operating in the UK, all of which require builders insurance.
Whether you're a contractor, or a sub-contractor, this applies to you, and working without the correct insurance in place leaves you and your business vulnerable should something go wrong.
Rhino are an award winning specialist insurance provider for trades people, and on this page we discuss the importance of trade insurance for builders and the different types of cover you need to keep your self-employed building business 100% protected.
What is builders insurance?
Builder's insurance protects you and your company from a range of risks and liabilities related to the work you do.
This insurance allows self-employed builders to work with confidence, knowing they are safeguarded against unexpected setbacks. Whether you accidentally injure a member of the public, damage a property or your business faces a tax enquiry from HMRC – Rhino has a suite of policies to protect your business sufficiently.
Keeping your trade business running smoothly, regardless of what comes your way, is essential. With our insurance options, builders can focus on their craft without worrying about the financial impacts of accidents or claims.
- Get bespoke builder's insurance quotes in 60 seconds
- Protect your business from major claims
- Join thousands of builders today who trust Rhino
Rhino's Take: Did you know that Rhino paid out over £2,500 on average per tools claim in 2023, allowing tradespeople to get back on their feet after suffering a theft?
What does builders insurance cover?
There are numerous different insurance options available to you. Whether you just want core business protection with Public Liability Insurance, or you want to add additional cover for your tools, or even cover yourself should you be unable to work for a period of time. Below is a breakdown of the cover Rhino offers.
For self-employed builders, public liability insurance is essential. It protects you against injury or damage to property caused while performing your work. Remember, getting work without public liability is incredibly difficult, in fact, trade associations, customers and job posting websites (like Checkatrade) are unlikely to hire you without adequate cover.
Public liability insurance protects you should your business cause damage to a property, or injury or illness to a member of the public as a result of your work. It is essential protection for self-employed builders.
Getting work without public liability insurance can prove difficult. In fact, trade associations and job posting websites often require proof of public liability cover before accepting your business.
Employers liability insurance helps to cover legal costs and compensation claims if an employee gets injured or becomes ill due to their work, ensuring your business is protected.
Professional indemnity insurance protects builders against claims of negligence or mistakes in professional services, covering legal costs and potential damages.
Contractors’ All Risks Insurance covers damage or loss to building works, materials, plant (hired or owned), and equipment on-site, providing comprehensive protection during construction projects.
With tool theft on the rise, insuring your tools can mean the difference between continuing to work or not. Rhino's tools insurance protects your tools, whether they are lost, stolen, or damaged, even when stored in your vehicle overnight.
Business owners may face legal disputes from time to time. Rhino's legal expenses insurance offers up to £50,000 in cover for employment disputes, property disputes, debt recovery, and loss of income due to jury service.
Even if your business hasn’t done anything wrong, HMRC can still inquire about your tax affairs. Tax enquiry insurance covers accountants' fees and provides expert defence if needed.
Personal accident insurance offers financial support in case of accidental injury or death at work or in your spare time, providing a lump sum payment for lost income.
Income protection insurance ensures a steady monthly income if you cannot work due to illness or injury, helping cover living expenses during recovery.
How much does builders insurance cost?
At Rhino Trade Insurance, we provide competitive and affordable insurance solutions tailored specifically for builders across the UK. Starting at just £8.07 a month, our policies are designed to give you peace of mind, allowing you to focus on your work without worrying about potential mishaps.
Rhino offer various levels of cover that'll help protect your business. Whether you're a solo tradesperson or running a larger firm, the cost of your insurance will vary based on the level of cover you need, the size of your business, and the specific risk associated with your work.
We discuss insurance options with thousands of tradespeople so why not give us a call on 0116 243 7904 or get a quote by clicking the button below.
Why do I need Builders Insurance?
Regardless of your level of experience, mishaps can occur at work. If you didn't have the right insurance, you or your company are the ones that would have to foot the bill. Having the right insurance isn't just about ticking a box; it's about protecting your livelihood from the unexpected.
Rhino speak to thousands of tradespeople, and as a specialist insurance provider, are aware of the dangers associated with your line of work. Our aim is to keep things simple and affordable, providing the best possible cover for tradespeople across the country. Whether you're working alone or managing a team, we have options that fit your needs and budget. With Rhino, you're not just getting trade insurance; you're signing up to partner with a broker who has your back should something go wrong on-site. Plus, getting a quote is simple - just click on 'get quote' below, answer a few questions, and you're set.
The Importance of Tailored Insurance for Builders: Why One-Size Doesn't Fit All
Building jobs come in all shapes and sizes – from groundwork to overseeing luxury mega-projects. But one thing doesn’t change – the fact that every builder needs insurance.
No two builders are the same – they all face different risks in their day-to-day work. This is why there is no one-size-fits-all solution when it comes to Builders Insurance. Here are a few things which affect your insurance requirement as a self-employed builder:
- The size of your building business
- The risk profile of the type of jobs you do
- Whether you have employees – and how many
- The limits of indemnity you choose on your policies
- Whether you want extra protection for tool theft, legal expenses and more.
These variable factors explain why tailored insurance solutions are so important for self-employed builders. Luckily, this is exactly what Rhino Trade Insurance offers. Our customers choose the insurance policies they need to cover the particular risks they face in their work and build their own personalised bundle of low-cost trade insurance.
Understanding Public Liability: How Much Cover Do Builders Really Need?
Let’s look at the first and arguably most important type of builder’s insurance – Public Liability Insurance.
This policy is a must-have for every builder. When you’re working in construction, the scope for things to go wrong is huge and in most cases, you’re financially liable when it does. Public Liability Insurance will protect you from liability for third-party accidents which happen on or around your job site, as well as damage to third-party property.
When it comes to cover limits, it’s up to you. There is no legal requirement for Public Liability Insurance in the UK, although most building contracts will stipulate that you need a certain amount to be hired onto a job. This can be anywhere from £1million up to £10million.
The larger your business and the riskier your work, the more Public Liability Insurance cover you’ll need. Public Liability Insurance claims can get very expensive, so as long as you budget for the monthly/ annual premiums, you should take out enough to cover even worst-case scenarios like causing accidental death.
Tools of the Trade: Ensuring Your Equipment is Protected
A builder’s tools are integral to their trade. Without them, there is no money to be made.
Tools Insurance is a smart policy for builders to have in place for if their precious tools are damaged, lost or stolen. This policy is more important than ever with tool theft a huge and growing problem for the UK’s tradespeople. In fact, tools are stolen in the UK every 23 minutes!
With Rhino’s Tools in Transit Insurance, you can cover your tools for up to £7,500. It even covers tools left in your van overnight.
Add our low-cost Tools in Transit Insurance to your core Public Liability Insurance cover and never have to pay to replace a set of nicked tools again.
BUILDERS INSURANCE COVERS
- Bricklayers Insurance
- Builders Insurance
- Carpenters Insurance
- Joiners
- Ceiling, Partitioning and Dry Lining Contractors
- Conservatory and Porch Erectors
- Dry Stone Wallers
- Fencing Contractors
- Painters and Decorators
- Path, Patio and Drive Layers
- Plasterers
- Artexers
- Roughcasters
- Pebble Dashers
- Garage and Shed Erectors
- Garage Door and Gate Fitters
Legal Challenges in the Building Industry: How to Safeguard Your Business
Builders in the UK can come up against different types of challenges in their work. These might include contractual disputes, property disputes, being sued for professional negligence and appearing at health and safety or employment tribunals.
Plenty of self-employed people in the construction industry will have to defend themselves in legal matters at some point during their careers.
When legal issues arise, most builders don’t have a pot of money set aside for the inevitable pile-up of legal bills and costs. This is where Legal Expenses Insurance from Rhino Trade Insurance comes in. With this cover, builders can get up to £50,000 to cover your costs for a wide range of legal disputes.
Rhino’s Legal Expenses Insurance policy also gives customers access to a legal helpline, where builders can get unlimited legal advice and speak to an expert in the legal side of the industry. This super-useful cover will even give you up to £100 per day to cover jury duty.
Navigating Tax Enquiries: How Insurance Can Defend and Protect You
Those working in the UK’s construction industry can find themselves on the receiving end of an HMRC tax enquiry. Tax enquiries can really throw off a small contracting business. That’s because they can be time-consuming, stressful, and can even result in you having to pay huge sums in taxes and/or fines in error.
The hours spent compiling documents, going back through tax records and meeting with HMRC to reach a resolution can really take their toll, especially when you should be focusing on your day job. Defending your status as a bona-fide contractor, for example, will take a lot of time, cash and energy that you probably don’t have to spare.
As building contractors are at particular risk of becoming the subject of a tax investigation, it really pays to have tax enquiry insurance as a self-employed worker in the UKs construction industry.
With Tax Enquiry Insurance from Rhino, you will get an expert to manage your case. They will offer invaluable advice and guidance, take care of correspondence and meetings with HMRC and help you defend yourself should your case go to court. It’s like having a guardian angel on your shoulder should HMRC come calling.
Tax Enquiry Insurance customers also benefit from access to an expert helpline, where a tax expert is waiting to answer any questions you might have.
How Does Builders Insurance Work?
Simply choose the Rhino policies you need, and the levels of cover you need. Then, we’ll give you your price. Pay for your premiums monthly or annually – we don’t charge you extra for spreading the cost.
All self-employed builders need Public Liability Insurance, so this is considered a core policy. You can either take it out as a standalone, or select from a range of valuable add-on policies to create your bespoke insurance solution, tailored to your business.
Rhino also offer dozens of ready-to-go bundles for every type of builder, from pebble dashers to garage erectors. Just choose your cover limits and you’re good to go!
Still have questions? Check out our Builders Insurance FAQs below or give us a call on 0116 243 7904.
