1. Why is Tradesman Insurance necessary?
  2. What optional covers should I combine with my Tradesman Insurance policy?
  3. Who should invest in Tradesman & Contractors Insurance?
  4. What level of cover do I need?

 

Why is Tradesman Insurance necessary?

Nobody wants to think that they’ll make a mistake in their work, but unfortunately, as we all know, things don’t always go as planned. As a tradesman, should something go amiss as a result of an accident or negligence on your or someone in your business’ part, then you may be liable for costs of the resulting damage.

Things like spilling paint on a client’s carpet, accidentally hammering a nail into a pipe or causing a fire while using heat equipment are all examples of situations which can give rise to a claim.

The only core cover which comes as standard with a Tradesman Insurance policy is Public Liability cover; this covers bodily injury and / or property damage to a third party while you are carrying out the works.

However if you employ anyone outside of your immediate family, you are legally required to have Employers Liability which can easily be added to your policy.

Who should invest in Tradesman & Contractors Insurance?

Our tradesman and contractors insurance policies are here to protect you from the potential risks that come from working in the trade.

We offer cover for a range of tradesman and contractors, including:

  • Builders
  • Carpenters and Joiners
  • Electricians
  • Gardeners
  • Handymen
  • Plasterers
  • Plumbers

We provide cover for over 900 different trades to ensure you’re protected. Should you not see yours listed above, why not get in touch with our insurance specialists who can provide you with more information about insurance for your specific trade.

What optional covers should I combine with my Tradesman Insurance policy?

 

Do you have employees?

If you employ anyone outside of your immediate family, including casual workers, part-time employees and temporary staff or trade as a limited company, then the law requires you to have Employers Liability cover for injury or sickness claims from employees to a minimum level of at least £5 million.

You should check carefully if you need it, because you can be fined up to £2,500 for each day you do not have suitable cover in place.

Do you have tools and / or a laptop for your business?

If you have tools and business equipment for your business, then you may want to consider Tools and Laptop Cover which will help to cover the cost of replacing items insured should they be stolen or damaged.

As the tools of your trade are important for the smooth and productive operation of your business, this a key cover to consider as a tradesman or contractor.

Are you responsible for the materials and works during the course of a contract?

If under the terms of a contract you are responsible for the permanent and any temporary works, including the materials which will form part of such works, then you may want to consider Contract Works / Contractors All Risk cover to help cover any damage to the property you’re working on (that is not due to bad workmanship) during the course of the contract.

Contract Works / Contractors All Risk helps to cover alterations you’re making during the course of a renovation or extensions as this is not usually covered through existing building insurance. You can also get specialist cover for both new build or speculative building work, and general jobbing work.

Do you own or hire in any plant or machinery?

Whether you own your own plant and machinery as part of your business, or choose hire in items for use during the term of the contract, you should consider the financial implications if any of them are damaged or stolen.

Plant and Machinery insurance helps to cover the cost of repairing or replacing the items to ensure they’re in a safe and functioning condition as a result of an insured incident such as fire, theft, storm damage etc.

Many policies include legal liabilities for hired equipment, which can include the costs of legal defence as well as helping to ensure you can continue to pay the hire charges.

What if you are accidentally injured at work and you can’t work?

If you or an insured person are severely injured or die in an accident, then it could have life changing consequences including an inability to work as a result of injuries sustained, hospitalisation as a result of the accident or permanent disability.

Personal Accident cover is designed to pay out a tax-free lump sum if you are involved in an accident resulting in some form of permanent disability or identifiable physical injury. If the injury sustained is a temporary, such as a broken leg or arm, then Personal Accident will pay a weekly benefit which you will be able to select when you take out a policy.

What would you do if you were involved in a legal dispute?

Should your business be faced with a legal dispute; for example, a client refusing to pay their bill, a breach of contract from a supplier, or even an employee claiming unfair dismissal, then the costs associated with placing or defending a claim can be costly.

Legal cover can be a valuable addition to your policy to ensure that legal expenses can be met. Some policies are able to provide additional services as part of their Legal cover, such as tax advice, online legal services and even a counselling helpline.

Speak to our insurance specialists for more information on the cover available for you and your business.

Are you a sole trader or a partner in a business?

If you are a sole trader or a partner in a business, you are the employer therefore there is no protection for bodily injury should one of your staff or fellow partner’s negligent actions cause you an injury.

With some of The Insurance Octopus’ policies we are able to add Injury to Working Proprietors or Partners cover back into your policy, thus giving you added peace of mind and protection. Our insurance specialists can provide more information about this type of cover.

What level of cover do I need?

The level of cover you need will depend on a variety of factors. The team here at The Insurance Octopus can give you all of the information plus competitive quotes to make sure your business is adequately covered and protected – get a tradesman insurance quote today.

Why is Pub Insurance or Restaurant Insurance necessary?

If you own or operate a pub or restaurant or similar-style venue, then you will likely be aware of the unique potential risks that can come with it.

Ensuring your customers’ and employees’ safety, replacing broken equipment, and protecting your business should you lose your license for reasons not under your control are all key concerns for those in the hospitality industry.

Being a pub landlord or restaurateur is a big responsibility and this is why a specialist pub insurance policy or restaurant insurance policy may be necessary in order to cover key aspects of your business and protect your liabilities.

 

What optional covers should I combine with my Pub Insurance or Restaurant Insurance policy?

 

Do you have employees?

If you employ anyone outside of your immediate family, including casual or part-time workers and temporary staff or trade as a limited company, then the law requires you to have Employers Liability.

Cover provided is for injury or sickness claims made by employees against you as a result of your negligence; the law requires that you have cover of at least the minimum level of £5 million our policies provide £10 million as standard.

You should check carefully if you need it, because you can be fined up to £2,500 for each day you do not have suitable cover in place.

Do you have contact with third parties?

Any business which involves contact with customers should consider Public Liability cover. If you or your business ends up being responsible for injuring someone or causing damage or destruction to their property as a result of negligence during your day to day business activities, then Public Liability insurance can cover the costs related to someone making a claim against you.

Do you sell products to consumers?

Many businesses take our Product Liability insurance to protect them from legal costs and damages awarded as the result of claims made against them under product liability laws.

If your business supplies products to consumers, you need to make sure that they are safe. Most of the responsibility falls on the manufacturer, importers or those businesses that supply own-brand products; including those that change, customise or service the commodities as the modification can affect the safety of the product. Pubs and restaurants however, also have legal responsibilities for all the products that they stock and sell.

Anyone who is harmed by an unsafe or contaminated product that you have sold can place a claim against you. You can be sued by an individual who is injured or by an unsafe product that you have supplied even if they didn’t buy the product themselves.

Do you have stock as part of your business?

Stock is unique to every business, for pubs and restaurants it will be mainly made up of food, drink including alcohol or both that needs to be considered. Insuring your stock with stock cover is vitally important as it will help to cover the cost of replacing your stock at cost price if it is damaged, destroyed or stolen. Because loss of stock can cripple a business, it’s important to ensure it is fully protected.

Do you have business premises?

Buildings insurance covers the cost of repairing or rebuilding your business premises if they aredamaged or destroyed by an unexpected crisis such as fire, flood or theft damage. For a pub or restaurant, ensuring that you can get your business premises up and running after an unexpected insurable event should be a key consideration.

You should insure your business premises against the cost or rebuilding the property, not against its market value or sale price.

If you own your business property, then you should consider buildings insurance to cover you. If you rent your business premises, then buildings insurance is your landlord’s responsibility – but you should contact your commercial landlord to make sure they have not made you responsible by contract.

You may also want to consider taking out Contents cover which can include your fixtures and fittings this provides the funds after the deduction of the policy excess to replace your business’ equipment and permanent fixtures if they are damaged or stolen.

For more information about available additional policy covers, get in touch with our insurance specialists.

What level of cover do I need?

The level of cover you need will depend on a variety of factors. The team here at The Insurance Octopus can help to make sure your business is adequately covered. Contact us on 0161 968 2041 or start your Pub Insurance or Restaurant Insurance quote online.

Why is Hotel Insurance necessary?

Hotel Insurance provides protection and covers you against the legal liabilities and risks that running a hotel, bed & breakfast or guest house can bring. It is important that both your business and your guests are protected.

Hotels are not the only business that can take advantage of specialist Hotel Insurance policies; most businesses in the leisure industry can take advantage of the policy if they provide accommodation.

These include establishments such as Bed & Breakfasts, Guest Houses and more.

What covers usually come as standard with my Hotel Insurance policy?

 

Employers Liability cover

If you employ anyone outside of your immediate family, including casual workers, part-time employees and temporary staff or trade as a limited company, then the law requires you to have Employers Liability cover for injury or sickness claims from employees to a minimum level of at least £5 million. A  Hotel Insurance policy will look to include this liability cover as standard to prevent you from being fined up to £2,500 for each day you do not have suitable cover in place.

Public Liability cover

Any business which involves contact with customers or other third parties should consider Public Liability cover. If you or your business ends up being responsible for injuring someone or causing damage or destruction to their property, then Public Liability insurance can cover the costs that may arise as a result of someone making a claim against you. As an hotelier, Public Liability is a key aspect of your insurance policy.

Buildings & Contents Insurance

Buildings insurance covers the cost of repairing or rebuilding your business premises if they are damaged or destroyed by an unexpected crisis such as fire or flooding. Contents insurance covers the cost of replacing your business’ contents and stock, including landlord’s fixtures and fittings, up to the amount you nominate if they are damaged or stolen, helping your hotel, B&B or guesthouse to stay operational come what may. You can choose to add additional specific types of contents cover to your policy should you wish.

Business Interruption

If something happened to your business leaving you unable to let your rooms for a significant period of time or an unforeseen event interrupted the operations of your business leaving you at risk of losing income, then Business Interruption insurance can help. It helps you to maintain the turnover of your business during the indemnity period following an insured incident so that you can continue trading at your anticipated pre loss trading level until normal business activities are resumed.

Specific policies may include additional covers as standard. To find out more, contact one of our insurance specialists today.

Product Liability

Many businesses take our Products Liability insurance to protect them from legal costs and damages awarded as the result of claims made against them under product liability laws.

If your business supplies products to consumers, you need to make sure that they are safe. Working in the hospitality industry is no exception as you will be supplying most, if not all, of your guests with food and drinks at some point during their stay; not to mention soaps and shampoos in their rooms.

Most of the responsibility for the product will fall on the manufacturer, importer or those businesses that supply own-brand products; including those that change, customise or service the commodities as the modification can affect the safety of the product. Hoteliers, B&B and guesthouse owners have legal responsibility for all the products that they stock and sell.

Anyone who is harmed by an unsafe product that you have sold can place a claim against you. You can be sued by an individual who is injured by or becomes unwell as a result of consuming an unsafe product that you have supplied even if they didn’t buy the product themselves.

What optional covers should I combine with my Hotel Insurance policy?

A range of additional covers can be added to your policy, dependent upon your circumstances and your business requirements. For more details on the optional covers available for you, contact our insurance specialists today.

What level of cover do I need?

The level of cover that your hotel will need will depend on a variety of factors. The team here at The Insurance Octopus can help put together a hotel policy – simply call 0161 968 2041 or start a hotel insurance quote.

Frequently Asked Questions for Landlords

Why is Landlord Insurance necessary?

If you are a landlord, then it is important to consider protecting yourself and the tenants in any properties that you rent out. Although there is no there is no legal requirement to have insurance, we have a number of policies available which have been specially designed for landlords as standard buildings and contents policies may not provide sufficient coverage.

The cover available with a Landlords’ insurance includes many similar types of protection usually provided by a home insurance policy, such as buildings and contents, to protect you in the event of a range of circumstances. The Landlords’ insurance also provides additional covers for the extra risks that arise when renting a property out to tenants.

Covers available as standard on a Landlords policy, which may not be available on your standard home insurance include:

  • Loss of Rent: Insurers will pay for the “Loss of Rental Income” during the period of time the property remains unoccupied as a result of an insured peril such as, lightning strike, storm, flood or fire.
  • Employers Liability: this will cover a landlord if they employ a person to carry out regular tasks such as maintenance, gardening, cleaning and caretaking duties.

What types of Landlord Insurance are available?

The Insurance Octopus has specialists in four key Landlord Insurance types. These are:

For more information about these specific insurance policies contact our specialists.

What if your premises become uninhabitable?

Unfortunately serious problems such as accidental damage or destruction can arise in properties which can make them uninhabitable. If this were to happen to your property, how would you handle the loss of income from no longer receiving rent?

Loss of Rent Insurance comes as standard with all of our policies; however, if your tenancy agreement stipulates that you must provide alternative accommodation for your tenants in the event that your property becomes unsuitable to live in, we may be able to extend this standard cover to include alternative accommodation. If your property becomes uninhabitable as the result of a specified and insured event such as flooding or a fire, then this cover can pay out as required.

Do you hire staff to undertake duties at your properties?

Landlords who employ one or more people to look after their property, such as gardeners, janitors and cleaners should be aware that they may be liable should anyone be injured as a result of their work. You may want to consider taking out a comprehensive Employers Liability Insurance policy to cover any payouts that you may become liable should they have a serious accident or become injured as a result of their work.

What if your tenants can’t pay the rent?

Even if you make sure that your tenants undergo rigorous referencing checks, anything can happen to them – such as being made redundant or facing a serious injury or illness – which could affect their ability to pay their rent on time. Rent defaults can be a serious problem, which is why Rent Guarantee insurance may be an appealing option to ensure that you are covered should you find yourself with unpaid rental income.

What if you have to evict a tenant?

Evicting a tenant is the worst-case scenario for any landlord, but unfortunately you may find yourself facing this prospect when renting out a property. Average evictions can take up to eight weeks, during which time you won’t be receiving any rent. Landlord Legal Expenses cover can help the process run swiftly and efficiently by providing financial support for legal expenses, as well as giving you expert legal advice at your disposal.

How would you respond in the event of an emergency at your rental property?

Domestic emergencies not only affect your premises, but the safety of your tenants. When you take out a Landlord Insurance policy with The Insurance Octopus, you can get exclusive access to Landlord Emergency Solutions.

This extended policy provides 24-hour protection against emergencies which expose your property or contents to damage, or compromised security, or cause a health and safety risk to your tenants. It allows both you or your tenants to report an emergency event — such as damage or complete failure of your property’s external locks and windows, or failure of the main heating system — and quickly arrange for professional help to come to your aid and get life back to normal as soon as possible.

What if your building’s foundations become unstable?

If the soil beneath your building becomes unstable – with the movement unconnected to the weight of your building, or poor design and construction – and causes damage to your building, then Subsidence Cover would be triggered to meet the cost of repairing damage.

What if your building is affected by a terrorist incident?

If your building is in a high risk area such as a city centre, or by an airport, then you may want to consider taking out Terrorism insurance to protect your assets should the worst happen as it will help towards the financial losses incurred in the event of a certified terrorist attack. While for many landlords Terrorism insurance will not be a key consideration, for some it may be something to consider and something that our team of specialists would be happy to discuss with you.

For more information about available additional policy covers, get in touch with our insurance specialists today.

What level of cover do I need?

It’s hard to say without knowing the facts – however you can speak to our team here to discuss your cover requirements. Call 0161 968 2041 or get a quote for landlord insurance online.

Why is Retail Insurance or Shop Insurance necessary?

 
If you are a retailer, then it is your responsibility to protect your business, your customers and your employees when they are on your business premises. You also have consider the risk of damage to and theft of stock, along with a number of other incidents that can arise which you should safeguard against.

Retail and Shop Insurance is the best way to ensure that the future and finances of your business are safe and secure.

Which businesses should invest in Retail and Shop Insurance?

 
Retail and Shop Insurance packages are designed to meet the demands and needs of retail businesses which operate from retail units.

The Insurance Octopus provides policies for a variety of retailers including:

  • Bakeries
  • Bridal and Wedding Shops
  • Coffee Shops
  • Florists
  • Newsagents
  • Off-licences

We also provide policies for many more shops and retail businesses; to see some of the covers visit our business insurance page.

What optional covers should I combine with my Retail and Shop Insurance policy?

 

Do you have employees?

If you employ anyone outside of your immediate family, including casual workers, part-time workers and temporary staff or trade as a limited company, then the law requires you to have Employers Liability cover for injury or sickness claims from employees to a minimum level of at least £5 million.

You should check carefully if you need it, because you can be fined up to £2,500 for each day you do not have suitable cover in place.

Do you have contact with third parties?

Any business which involves contact with customers should consider Public Liability cover. If you or your business ends up being responsible for injuring someone or causing damage or destruction to their property, then public liability insurance can cover the costs related to someone making a claim against you.

Do you sell products to consumers?

Many businesses take our Product Liability insurance to protect them from legal costs and damages awarded as the result of claims made against them under product liability laws.

If your business supplies products to consumers, you need to make sure that they are safe. Most of the responsibility falls on the manufacturer, importers or those businesses that supply own-brand products; including those that change, customise or service the commodities as the modification can affect the safety of the product. Shops and retailers however, also have legal responsibilities for all the products that they stock and sell.

Anyone who is harmed by an unsafe product that you have sold can place a claim against you. You can be sued by an individual who is injured by an unsafe product that you have supplied even if they didn’t buy the product themselves.

While a claim can be placed against you for compensation for death or injury, individuals also have the right to claim for damage or loss of private property caused by faulty goods.

Do you have stock as part of your business?

Stock is unique to every business, and could be anything from food and drink, items of clothing, or electronic equipment. Insuring your stock with stock cover is vitally important as it will cover the cost of replacing your stock at cost price if it is damaged, destroyed or stolen. Loss of stock can cripple a business so it’s important to ensure it is fully protected.

Do you have business premises?

If you run a shop or retail business from a unit or building that you own, then buildings insurance covers the cost of repairing or rebuilding your business premises if they are damaged or destroyed by an unexpected crises such as fire or flooding. You should insure your business premises against the cost or rebuilding the property, not against its market value or sale price.

If you own your business property, then you should consider buildings insurance to cover you. If you rent your business premises, then buildings insurance is your landlord’s responsibility – but you should contact your commercial landlord to make sure they have not made you responsible by contract.

You may also want to consider taking out contents, shop fronting and fixtures and fittings cover which covers the cost of replacing your business’ equipment, permanent fixtures and shop front if they are damaged or stolen.

For more information about available additional policy covers, get in touch with our insurance specialists.

What level of cover do I need?

 
The level of cover you need will depend on a variety of factors. The team here at The Insurance Octopus can help to make sure your business is adequately covered.

Essentially, if your business or trade consists of giving advice and the advice given affects your client to the extent that they make a financial loss, they could make a claim against you. Professional Indemnity helps to protect you if this happens.

Which professions should invest in PI Insurance?

If you provide advice and consultancy, handle people’s information or provide an expert service, then you should invest in a indemnity insurance policy.

The Insurance Octopus provides specialist policies for:

  • Accountants (both ICA and Non-ICA)
  • Architects
  • Engineers
  • Computer Consultants
  • Surveyors and Property Managers
  • RICS Surveyors

However, we also provide Professional Indemnity policies for a range of additional professions including Directors and Officers, Marketing Consultants, Photographers and many others.

Can’t see your profession listed? Search for it when you get a quote – visit our business insurance by trade page.

What optional covers should I combine with my PI policy?

 

Do you have employees?

If you employ anyone outside of your immediate family, including casual workers, part-time workers and temporary staff, then the law requires you to have Employers’ Liability cover for injury or sickness claims from employees to minimum of at least £5 million. You should check carefully if you need it, because you can be fined £2,500 for each day you do not have suitable cover in place.

Do you have contact with third parties?

Any business which involves contact with customers – whether having people visit you, or you visiting them – should consider Public Liability cover. If you or your business ends up being responsible for injuring someone or causing damage or destruction to their property, then public liability insurance can cover the cost related to someone making a claim against you.

What would happen if you couldn’t work?

If you had an accident or received a serious injury, leaving you unable to work, then you can get Personal Accident cover which would pay a weekly or lump sum to help you while you recover. It provides financial help if you have a serious accident or injury, or if you suffer a fatal accident.

If something happened to your business premises that meant you had to re-locate or an unforeseen even interrupted the operations of your business leaving you at risk of losing income what would you do? You may want to consider taking out Business Interruption insurance to help you to maintain the turnover of your business during indemnity period following an insured incident so that you can resume trading at its anticipated pre loss trading level.

Do you have business premises and business equipment?

Computers, laptops and mobile phones and other equipment, and any other contents you have in your office can be covered with Contents Cover or Laptop and Mobile Phone Cover.

Both help to replace items in the event that they are damaged maliciously or by a storm, fire or other severe weather event, if they are stolen or robbed and a number of other types of qualifying conditions.

Have you had continuous PI Insurance in the past?

If you have had continuous Professional Indemnity insurance in the years previous to taking out a policy with The Insurance Octopus, we can help to ensure you have Retroactive Cover in place. This will protect you against any claims that may be made against you for previously completed work when insured by a different provider. It is important to make sure you do not let your Professional Indemnity insurance lapse to ensure you are eligible for Retroactive Cover.

What level of cover do I need?

We would discuss with you the risk profile and nature of your business, the total income of your business, and the required limit of indemnity and the level of excess in order to help work out the right level of cover for your business. This can include optional extras you decide to add to your policy.

Our PI Insurance specialists can help to discuss your specific requirements over the phone should you need some help and guidance, or you can get a quote easily online.

When do I need to notify The Insurance Octopus of a potential claim?

You should let us know at the earliest opportunity if a client has a problem with your work which you think is likely to give rise to a claim against your business for compensation. In order to try and minimise the problem and avoid unnecessary legal costs and distress, it is important to take prompt action.

You should also let us know if you receive a complaint from a client or realise you have erred somewhere and can’t easily resolve the problem; if you receive a series of escalating complaints on a project; if a client withholds payment to you after a complaint, or if you become aware of a shortcoming in your work that you can’t put right easily.

It’s important to check the terms and conditions of your industry-specific indemnity policy for information on your notification requirements – take special note of if a late notification or failure to notify will cause adverse repercussions for your business such as withdrawal of insurance cover.