A Guide to Tradesmans Insurance Online
It’s the oldest online commercial insurance and the widest sold type of business insurance in the UK, but what exactly is Tradesmans Insurance?
If you own or manage a small business, you will require at least some type of liability insurance to protect your company against the various risks and possible claims, that your business will face.
Small businesses and tradesmen are required by law to have employers liability insurance at the very least in order to carry on business. Employer’s liability cover protects the workforce and allows the business to pay any claims against it which may be brought by a worker who was injured carying out his or her duties.
Public liability insurance is essential if you work with members of the public who may pursue claims against you and motor insurance or van insurance is also likely to be a necessity.
If the business has plant or machinery which must have a periodical statutory inspection, it will be usual to arrange for this to be done by a specialist engineering insurer under the terms of an engineering inspection contract, with or without insurance.
Tradesman’s insurance is more often than not sold online as a small business insurance package policy. A package will include all elements of cover required by a small business or self employed trader such as basic employers liability and public liability covers and theft of tools. Trademans insurance quotation systems allow you to vary the levels of indemnity required for liability insurance in a typical range of between £1 million and £10 million. The higher the levels of indemnity required the higher the premium. Tools cover is usually rated on a replacement new for old, sum insured basis, where you define the value of your tools.
It’s the oldest online commercial insurance and the widest sold type of business insurance in the UK, but what exactly is Tradesmans Insurance?
If you own or manage a small business, you will require at least some type of liability insurance to protect your company against the various risks and possible claims, that your business will face.
Small businesses and tradesmen are required by law to have employers liability insurance at the very least in order to carry on business. Employer’s liability cover protects the workforce and allows the business to pay any claims against it which may be brought by a worker who was injured carying out his or her duties.
Public liability insurance is essential if you work with members of the public who may pursue claims against you and motor insurance or van insurance is also likely to be a necessity.
If the business has plant or machinery which must have a periodical statutory inspection, it will be usual to arrange for this to be done by a specialist engineering insurer under the terms of an engineering inspection contract, with or without insurance.
Tradesman’s insurance is more often than not sold online as a small business insurance package policy. A package will include all elements of cover required by a small business or self employed trader such as basic employers liability and public liability covers and theft of tools. Trademans insurance quotation systems allow you to vary the levels of indemnity required for liability insurance in a typical range of between £1 million and £10 million. The higher the levels of indemnity required the higher the premium. Tools cover is usually rated on a replacement new for old, sum insured basis, where you define the value of your tools.