What is builders insurance?
Builders insurance built for you
Builders insurance can be arranged to provide protection to builders in the building trade. As a builder you’ll likely work on and co-ordinate various construction and repair work to your client’s requirements. You’ll likely occasional work at heights or at certain depths, as well as regularly operate machinery. The Insurance Octopus’ comprehensive builder’s business insurance policies are designed to be as flexible as you need them to be. We’ll help you to tailor your builders insurance to ensure you get the essential cover you need in one, simple business policy.
Builder’s business insurance is important to help protect you and your business. Whether you need a general builder’s insurance policy or you are a specialist in a specific area of building such as domestic or commercial, The Insurance Octopus can help you save time and money on sorting out your policy.
What your builders insurance policy includes
Public Liability cover for builders
Public Liability insurance covers your business if someone gets hurt or property is damaged in the course of your business. Standard levels of cover are £1, £2m, or £5m and higher levels are available upon request subject to insurer’s terms and conditions. Public Liability will protect you should there be a legal case for injury or damage.
Employers Liability cover
Employers Liability insurance is a legal requirement if you employ anyone or pay sub contractors to complete works on your behalf with your tools and equipment. An Insurance Octopus standard Employers Liability insurance policy is £10m cover.
Goods in Transit cover
Goods in Transit covers the contents of your van up to the policy valued specified. This cover is normally used for a tradesman that works on many buildings and construction sites.
Plant and Tools cover
Plant and Tools cover will protect your tools of your trade whilst working on site such as on a construction or building site.
If you are self-employed or you need additional insurance and cover, The Insurance Octopus will help to put a tailored business insurance package together for your specific business needs.
In addition to our standard tradesman and contractor’s insurance package, we can also arrange for a specific specialist insurance policy. For example, if you are a specialist in a particular field of bricklaying you may need to amend your policy to be specific to your business.
Additional conditions that can be tailored to include working up to 50 meters in height, if over 75% of your work uses heat or you work deeper than the standard 2-3 meters. Simply give us a call and we’ll happily provide a quote based on your needs.
Why you need builders insurance
There are many risks associated with being in a trade specific occupation, and there are areas of risk that you may need to consider when looking for business insurance. It’s important to make sure that your insurance covers everything it needs to.
Your business insurance policy from The Insurance Octopus will include fundamental elements of insurance that a tradesman or contractor could need whilst working including liabilities and full tool and equipment cover, plus additional covers as needed. We will endeavour to help you tailor your business insurance policy to the specific needs of your business in all instances.
Building your trust in insurance
Your tradesman insurance from The Insurance Octopus will include fundamental elements of insurance that a tradesman will need whilst working including public liability insurance, employers liability cover, tool and equipment cover, personal accident insurance and where requested also contractors all risk cover. Get in touch with us today to find out more about how we can help.
Specialists in building cover
One of our tradesman insurance specialists will discuss your business requirements with you and look to compare quotes from major UK insurance providers, ensuring you get a bespoke policy where you only pay for the cover you need. We can often provide you with your business insurance and documents on the same day in most cases (subject to time of day restrictions), offering a range of flexible payment options, including Direct Debit.
Why choose The Insurance Octopus for Builders Insurance?
We proudly make buying insurance different and our cover comes with a range of benefits.
Up to £5 million of cover
Claims can be expensive, that’s why we offer up to £5 million worth of public liability cover for Tradesmen - with more available upon request.
Fast specific cover
To help save you both time and money. We compare prices from a range of different insurers so you don’t have to.
A specialist who knows your industry
We'll connect you with an agent who specialises in your field. They understand many of the challenges you face, and can truly get to grips with the type of cover you need.
Easy claims process
Accidents can happen, so when something does go wrong you can rest easy knowing our team is on hand to make the claims process as quick and stress free as possible.
Octopus customer rewards
We pride ourselves on the value we offer our customers, and with Octopus Customer rewards we give our customers a few additional benefits to their insurance such as discounts and offers to save them money.
No mid term fees, ever
We don’t charge any mid-term fees at all during the life of your policy – so there are no hidden fees following any changes you might need to make.
Builders Insurance FAQ's
Get the answers you're looking for
Can you insure me as a self-employed builder?
Yes we can. The insurance requirements for a self-employed builder are slightly different to those required for a contractor, because you may not be subject to employer's liability insurance. When getting your quote, make sure you tell us that you are a self-employed builder, and the cover we offer will take that into account. If you have any queries or concerns, you can always call us and speak to one of our team who will be able to answer any questions you have.
Why does a builder need public liability cover?
In the building trade, there are many things that could go wrong and cause damage to property or harm to people. Of course, you will do all you can to avoid these types of things from happening, but if some unforeseen incident happens you could find yourself liable for a bill that would decimate the finances of your business, or even your personal finances. Public liability cover will foot the bill if your work causes harm or damage to someone else or their property.
Do I need hired-in plant/owned plant insurance cover as a builder?
If you hire or own any equipment that you use to carry out your building work, such as a cement mixer, then it is a good idea to take out hired-in plant/owned plant cover. This way, if the equipment is damaged or stolen, you won't have to pay out of your own pocket for repairs or the replacement of it. Many companies that hire out equipment require that you take out hired-in plant insurance before they even consider giving you their equipment.
How Builders Insurance works
Examples of Builders Insurance in action
Mother Nature Causes £40,000 Claim
A roofing contractor was hired to replace the roofing on a public building for a more efficient and updated roof. Two weeks into the job, there was a bad storm overnight and the roof wasn't equipped to withstand its severity. Consequently, all the materials and work that had been put into the roof at that time were completely destroyed. As a tradesman in the building trade, the roofing contractor had taken out contract works insurance, and a good job too - the cost to replace the work that was lost exceeded £40,000.