Anyone in business, as a minimum should carry Public Liability insurance. This insurance protects you if your customers or members of the public suffer personal injury or property damage because of your business. Cover pays for the costs of subsequent legal expenses or compensation claims and is essential for any business that deals regularly with customers.
If you manufacture something, you should also add Product Liability to protect you if someone is injured as a result of you supplying an unsafe product.
And, don’t forget, if you employ anyone, whether paid or not, the law requires you to carry Employers’ Liability insurance.
Contract Works and Contractors All Risks
If you enter into construction contracts, you will need a policy to cover you for the value of any works you carry out, including all materials on site before they are incorporated into the structure.
Building firms typically buy an annual policy with a limit set for the maximum contract value.
Tools, Plant & Equipment
These items are particularly susceptible to loss, and it is easy to under-estimate how valuable all your equipment is.
Cover is also available for hired-in plant, along with continued hiring charges that you may be liable to pay if a piece of equipment suffers loss or damage.
Site Huts, Portaloos and the like can also be covered.