What type of insurance does a Tradesperson require?

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Deirdre O’Connor of MBC Insurance

Do you require a quotation for your Business?
If so you can reach me on 068 59983
Email: deirdre.oconnor@mbcinsurance.com

What is tradesman insurance?
Tradesman insurance is a business insurance policy for professionals in their field that covers several different important aspects, including your equipment, cover for your ongoing works, compensation costs following a legal claim against you and other optional extras depending on the work you do.

What does tradesman insurance cover?
The level of cover can be tailored to suit your needs and therefore the different elements covered ranges depending on the cover you choose.

Tradesman insurance can cover:
• Public contracts
• Private jobs
• Consulting
• Quoting
• Working abroad
• Working onsite

What does tradesman insurance include?
We can help you understand the different covers and the exact levels you might need during a quotation but we have listed some of the main features below. Our policies can be tailored to your business needs, so we can help you find the policy that is right for you.

Public liability for tradesmen
This cover will protect you from liabilities to Third Parties (other than your employees), for bodily injury or damage to their property which arises during the course of your business due to your negligence/lack of care.

Employers’ liability for tradesman
If your business employs any staff including part time staff, trainees/apprentices /work experience/ agency staff and sub-contractors, this cover will protect you from any liability arising in the course of their employment with you and provides cover if any of your employees suffer physical injury, disease or death, and it is proven that as an employer you acted negligently and subsequently could have prevented their loss.

‘Own plant’ cover and ‘hired-in plant’ cover.
If you own and/or hire equipment for your job you will be liable for their replacement should they be damaged of stolen. Own plant cover is insurance for the equipment you own. Hired plant cover is for that which you hire. It is possible to get yearly rates on hired in cover so if you make regular hires in a year, speak with your adviser about which might be the best option for you.

‘Contract works’ cover
This provides cover against an uninsurable event that stops you fulfilling a contract. An example would be when a storm destroys a structure being built.
Contract works will only cover the parts of the building that you are working on, not the existing structure. The builder is liable for the materials, labour and extra time.

FREQUENTLY ASKED QUESTIONS

How expensive is it?
The basic and most important cover is Public Liability Insurance. Every tradesman needs this, even if there is a main contractor involved, actions can be taken against you regardless of your main contractor having cover. While public liability insurance is not a legal requirement, it is not very expensive and the price is relative to the size of your operation and the nature of risks for your specific trade.

Do I need Public Liability Insurance?
Public liability insurance will not prevent claims from happening, it will however cover your business in the event that there is one. If you are a sole trader and not a limited company your personal assets could be exposed if you were proved to be negligent. Even if you always work for a main contractor, it is often a requirement in their insurance that you hold your own insurance, as their insurance would not cover damages that are a result of your negligence.
Most actions also name multiple parties in a claim for damages, so insurance is important to protect yourself.

Why do I need to insure my employees?
Employers’ liability insurance protects you against the cost of compensation claims arising from employee illness or injury, sustained as a result of their work for you. If you have any paid employee, apprentice, part-time unpaid family member or temporary labour you need Employers Liability Insurance.