The cover options we can provide can be varied and as comprehensive as you require. The nature of being a contractor means you often go out to visit your clients and perform work on their site. If you are an employee then it is likely that your employer will have obtained cover for you, however it is always best to clarify this with whom you are working for.
Working as a building contractor can be tiring work, especially when you’re running your own building constructor business. Even if you run your run your business smoothly, things can go south in an instant. Public liability insurance covers injuries suffered by visitors to your business property. Commercial general also protects businesses against personal injury, which in insurance-speak is different from covering bodily injury.
There are a number of tests that determine whether a subcontractor is a labour-only subcontractor or a bona fide subcontractor and each situation will be treated on its merits. A bona fide insured subcontractor will be told what they are required to do rather than how they are expected to do it, and will generally supply their own materials and tools to complete the job. In fact, it is often a condition in most contractors’ public liability insurance policies that bona fide subcontractors have public liability insurance of their own. A contractor’s public liability insurance will also provide what is known as “contingent liability” cover. The agricultural contractor public liability insurance policy protects you against claims in respect of your legal liability for personal injury or property damage sustained by third parties arising during the course of your business.
Construction & Public Liability Insurance Buildsafe Insurance | Duration 1 Minutes 54 Seconds
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Every day agricultural contractors face the risk of legal action being taken against them in respect of their liability for personal injury or property damage arising in the course of their business activities. The limit of indemnity under the agricultural contractors public liability policy is the maximum liability of the insurance company in respect of each and very claim under the policy. Most agricultural contractors public liability policies are arranged on a claims occurring basis. Although you don’t legally have to have this type of insurance, many clients are becoming increasingly aware of such insurance and insist on seeing evidence of such policies before work is carried out on their property. In addition to the obvious benefits and peace of mind such a policy brings to your clients, it is also there to protect you as the contractor. As mentioned, the cost of this type of insurance can vary depending on the amount of liability cover you require. Here are just a few of the most common accidents that occur within the construction industry. These are just some of the instances where appropriate insurance will safeguard your business or company against expensive claims made by third parties. As a consultant and independent contractor, you should consider having public liability insurance and professional indemnity insurance. If you operate from commercial or retail premises that can be accessed by the public, it is likely that your business will need public liability insurance. There are laws in place which state the standard of care you should uphold to avoid liability in this regard, however, should you find yourself subject to a claim, this form of insurance limits your financial risk.
This type of insurance should be taken out by those who give professional advice or perform services to clients through their type of work. Professional indemnity insurance protects you against claims if a client suffers loss through receiving your services or relying on your advice, and includes cover for legal costs. If you employ staff for your business, you will need to take out workers compensation insurance. It is important to note that if the worker is involved with a business under a labour hire agreement, the business to which the worker provides their services is not their employer. Our specialised insurance cover for contractors presents you with a tailored, affordable insurance solution for your unique circumstances.
Our stock and stock-in-transit insurance option will cover stock kept at your risk address as well as stock that’s being transported. We realise that where machinery are used on a daily basis, mechanical, electrical and electronic breakdown may be a common occurrence. Most policies do not provide cover for work with asbestos, contractual liability, or work on boats or aircraft. As with any insurance policy, it is strongly recommended that you read and fully understand the exclusions. The electrician had to call in a plumber for emergency repairs to the pipe, and the occupants of the house were unable to stay there. When working for the main contractor, you may find yourself in the building trade where you could end up in all manner of situations. It protects you individually from any unexpected cost of injuring or damage someone’s property during your work.
This cover is optional but worth having for the potential incidents that it covers.
It is critical that you have the right amount of cover for your business. If you or a key member of staff suffers an injury from an accident that has left them unable to work, personal accident insurance cover may pay your business a weekly amount. Many owner-builders make the simple mistake of under-insuring their project.
As with most other businesses, a contractor will invariably deal with the public at some point in their day to day activities. Many contractors will of course wonder whether they need it as they might not see themselves as operating in the same way as most businesses. Modern construction involves climbing to high heights and excavations. This policy benefits you and your employees as well. Most of construction contracts are time bound meaning that the project has to be concluded within a specific time frame. Get the covers you do need and not the ones you don’t. If you can get away without needing it, we still recommend that you seriously consider getting it. All tradesmen and sub-contractors on a job site need to carry public liability insurance to protect themselves against professional and personal financial ruin.
Public Liability Insurance | Duration 1 Minutes 19 Seconds
The level of protection you take out – also called the ‘limit of indemnity’ – determines the maximum amount a policy will pay out in the event of a claim. Some kinds of work are considered more high risk than others by insurers and, as a result, may be excluded from the public liability cover they offer. The electrical contractors public liability insurance policy protects the policyholders against claims made against them in respect of their legal liability for property damage and personal injury arising during the course of the business. The cost of electrical contractors public liability insurance will depend on a few key factors such as the actual nature of the business you are engaged in, how much work you undertake and your previous business and claims experience.