Summer is the busiest season for builders and there’s an abundance of opportunity to pick up lucrative contracts. While you’re preparing for such a hectic period, this is the ideal time to reflect on whether or not the insurance you arranged a few years ago when setting up as a tradesman still provides adequate cover.
As your business grows, it’s more crucial than ever to make sure you have the best builders insurance on the market in place. Read on to find out what important aspects you should be considering when searching for top deals.
1. Flexible Option
As is often the case, your insurance needs to be modified to address any business changes. We understand that building work comes with a variety of high risks. This is why The Insurance Octopus provides bespoke builders insurance that’s tailored to individual requirements.
It’s extra easy to update your existing cover as you go along, plus expert consultants are always on hand to answer any questions. Being able to select various add-ons to complement the core elements of your insurance lets you design a policy that’s perfect for your needs.
Opting for independent insurance companies, such as TIO, that work with a pool of large and small providers catering for different businesses gives you a better chance of finding the best deal on the market.
2. Positive Customer Reviews
Managing to maintain a four or five star rating with thousands of customer reviews is a strong indicator of excellent service. In the online world, business insurance providers cannot escape being publically scrutinised and this definitely gives you peace of mind when trying to choose between numerous options.
Customers purchasing insurance online have a real advantage thanks to these reviews that can clearly set out the ones to avoid. However, be careful not to make your decision purely on this aspect. Instead use this as a general gauge. The most important thing to concentrate on is finding the best insurance deal for you. What was an ideal solution for one business might be completely unsuitable in your case.
3. Comprehensive package
When searching for tradesman insurance policies online, you’ll be inundated with options detailing particular types of protection such as public liability insurance. While this is one of the core essentials for your business cover, a strong package should be comprehensive and feature several components depending on your situation.
Other vital elements include personal injury cover, employers’ liability (if you have one or more employees) and tools/equipment insurance.
4. Specialised insurance
Rather than going with general tradesman insurance, it might make more sense for your business to choose a specialised plan targeting a particular niche.
So if you’re a builder specialising in the likes of bricklaying, joinery, kitchen fitting, roofing or scaffolding, keep an eye out for specific insurance cover. With such a rich variety of options on the market nowadays, doing your research and making comparisons will serve you well.
5. Value for money
Quite often, the cheapest options aren’t necessarily the worst and the most expensive ones aren’t guaranteed to be the best. What you want to aim for is value for money.
Visit price comparison websites to dissect exactly what different policies are offering. Rather than opting for the lowest price, decide what your builders insurance actually needs to include and then find the best deal offering this for the best price. The focus should definitely be on quality before price as cost is not always indicative of standards.
Get your builders insurance quote today by contacting The Insurance Octopus.