What level of cover do contractors need?

The only insurance type that is a legal requirement for contractors is employer’s liability insurance. After this, the level of cover a contractor takes out is entirely up to them. In any trade, there is a substantial risk of injury or damage to property, so it is highly advisable to take out cover against these risks. The level of cover you take out is your decision, which should be informed by an assessment of the risks your business faces and the extent of the costs which these risks could incur.