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Tradesman insurance – Get the right insurance for your business



Make sure you get the right insurance if you starting a new business as an installer or in a trade which requires you to work on other people’s properties.

As a beginner coming into a new career in the gas industry, as a plumber or an electrical installer, there is a lot that you need to know but may not be aware of when you leave logic4training with your qualifications.

You will be eager to get started with your business but it is vital to make sure you have the right tradesman insurance from the off.

In some cases it is a legal requirement to have insurance so read our handy little guide below and make sure you are covered…

 

Public Liability

Public Liability insurance is designed to insure you against claims if a member of the public is injured or if their property is damaged.

It applies whether they are at your business premises or while you are at their property.

For example, accidentally drilling through a water pipe and causing a flood at a customer’s house could lead to a financial claim big enough to bankrupt you.

Public Liability insurance is not a legal requirement but it’s considered essential for businesses.

If you are just starting out we highly recommend this to be your priority as you will need public liability insurance if to join Gas Safe Register or OFTEC (or any other competent person’s scheme.)

 

Employer’s Liability

If you employ someone then it is a legal requirement to have employer’s liability insurance.

It protects you if an employee is injured or becomes ill as a direct result of their work whilst in your employment.

If you pay someone on a monthly, weekly, daily or hourly basis then it is a requirement.

Employer’s liability isn’t required where only one person is employed and that person also owns more than 50% of the share capital.

It’s also not a requirement in partnerships where the directors are equal partners in the business and do not employ others e.g. a husband and wife who own the business together, or two friends.

You can be fined heavily if you are required to have employer’s liability insurance and do not.

 

Other types of insurance

Other types of insurance you should consider are

  • Building insurance if you have premises
  • Business interruption insurance in case you can’t trade for any reason
  • Professional indemnity
  • Van insurance – If you store anything in your van (which we don’t recommend you do) you will need van insurance.
  • Tolls insurance

If you would like to start your own installer business why not get a Gas qualification first!

Book an open day at our Northolt centre or call 0345 845 7222 for some free and friendly advice.