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Tradesmans Insurance

Working in the trade can be incredibly rewarding, particularly when you’re self-employed. You’re free to work as and when you please and can choose your clients and projects accordingly, yet you get the satisfaction of knowing that you’re providing a valuable service to customers. However it also means you’re entirely financially responsible for every job you undertake – your business is your livelihood and if you don’t want to run the risk of losing out then investing in adequate tradesman insurance should be high on your priority list.

There are a number of things you may wish to to consider when taking out this kind of policy, and the first should always be cover for your tools, materials and related equipment. The cost of these items could quickly add up and if you had to replace them (perhaps through loss, theft or accidental damage) it could easily take a huge chunk out of your profits, so it’s important to make sure that any policy includes adequate protection.

Public liability cover is another essential component as it protects you from any third party claims, particularly important as you’ll often be working at customer’s homes, offices or commercial properties and personal accident cover should also be considered bearing in mind that working in the industry comes with plenty of risks and potential hazards. There are other things you might need depending on your circumstances – if you have employees then employers’ liability cover is a legal requirement and cover for contract works is often a necessity, so always make sure you’ve got the protection that you need. If unsure ask your broker.

Many insurers will be able to accommodate your tradesmans insurance requirements, but in order to get the perfect level of cover you’re going to need to head to specialists. Companies or brokers that specialise in tradesmens insurance policies will understand your needs and will usually be able to give the cover to suit, with many offering bespoke policies that can be tailored to your exact requirements. This ensures you’re getting the perfect level of cover for your unique business objectives whilst making sure you’re not spending a fortune, but there’s one other factor that deserves consideration – time.

When you’re self-employed time is money, and if you don’t want to waste a second of if you should consider heading online. You’ll find online policies quick and simple to arrange nowadays and will often be able to save money in the process. Please remember that if buying online is often unadvised so if you are unsure always get professional advice from a regulated broker.