Who Needs Builders’ Liability Insurance?
Public liability insurance cover is crucial for builders and their business.
If you’re a tradesman, you’ll probably realise how important it is to have the right kind of builders’ insurance in place.
Whether you are a builder working on a construction site or on private property, an accident could result in a hefty compensation sum being awarded to a third party.
How Does Public Liability Insurance Protect You?
Public liability insurance will protect you from any liabilities from a Third Party (other than your employees), bodily injury or damage to their property that may occur during the normal operation of your business.
As a builder, it is likely you’ll carry out a wide range of jobs. This could see you climbing high ladders, lifting heavy equipment, or decorating expensive properties. While there is always likely to be an element of danger involved in working as a builder, the potential legal repercussions of you injuring a third party or damaging their property should not be taken lightly.
What Customers Should Ask Builders
In addition to making sure that your builder has public liability insurance, it is important to ask whether it covers all of the individuals that will be working on your renovation. If your builder subcontracts work to a person or people who carry out tasks unsupervised and with their own tools, these constructors may not be covered by the building company’s public liability policy.
To protect your investment in your home, as well as they well-being of your neighbours and guests, it is important for your builder to determine who would be financially liable for accidents before the renovation begins.
Amount Of Liability Cover Required
The amount of cover you need will vary according to your business type and other factors. Many small businesses take out £5 million of cover.