Introducing contractors insurance
Tailored insurance cover for contractors and the projects they undertake
As a contractor or general contractor, you’ll be hired by clients directly under contract to carry out and complete specified projects and services; you’ll also likely find that each project you undertake is different in nature, with each having their own unique set of risks and hazards. You may even hire labour only sub contractors who will also need to be insured under your policy. Our tailored insurance cover for contractors incorporates public liability and employer’s liability cover as standard with optional professional indemnity cover. We’ve carefully designed our contractor’s insurance policies to help protect contractors from every day potential risks, with additional optional covers available if needed such as contractors all risk and personal accident insurance.
What your contractors insurance policy includes
Public Liability Insurance
Protect your business from claims made by the public due to suffering injury or property damage by your business. With the cover available as standard from £1 to £5m, higher limits are also available upon request.
Employer’s liability insurance
A legal requirement for contractors who have employees – employers liability cover provides protection against employee legal disputes and employee bodily injury claims.
This cover takes care of any court related costs or costs associated with legal proceedings. We can provide legal cover as a standard part of your Employers liability or public liability policy or as an optional add-on to cover situations such as Contract & Debt Recovery, Employee Disputes and Tax Investigations.
Professional Indemnity Insurance
Professional Indemnity cover is perfect for contractors who provide advice or services to their customers, covering you and your business in cases of misadvice, misservice or misdesign resulting in a customer’s financial loss.
Contract Works or Contractors All Risks cover
Contract Works or also known as Contractors All Risks will insure your work plus materials, should they be damaged or stolen. You’ll also be covered for the additional labour costs incurred to rebuild the work previously completed along with cover for your own or hired in plant.
Equipment Damage cover
This covers you for the cost of replacing any damaged, lost or stolen equipment.
Business Interruption Cover
Protection in the event your business suffers a loss of gross profit or revenue due to an insured incident.
Owned and hired in plant cover
To protect you against potential theft or damage to hired in or owned plant machinery.
Remember however it won’t cover you for deliberate damage or bad workmanship.
With our contractors insurance policy cover, we can help ensure you are able to carry out projects, safe in the knowledge that you and your business are secure in the event of a claim.
Types of contractors we can cover
Our contractors insurance is suitable for a range of different trade’s people and general contractors including: electrical contractors, flooring contractors, plumbing contractors, roofing contractors and painting contractors and many many more. Speak to our team to arrange the right cover for you and your business.
Working as a sub contractor?
We offer cover for a wide range of contractors and subcontractors insurance. No matter your business type our contractor insurance experts will be able to tailor a policy to meet your unique requirements. Everything we do is bespoke meaning we aim to comprehensively understand you and your business.
Arrange same day cover
One of our insurance experts will discuss your business requirements as a contractor with you and look to compare quotes from major UK insurance providers. Get a contractor’s policy tailored to your business needs to ensure you only pay for the cover you need. We can provide you with your business insurance and documents on the same day in most cases, and offer a range of flexible payment options.
Why choose The Insurance Octopus for Contractors 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.
An expert who knows your industry
We'll connect you with an agent who is an expert 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.
Contractors Insurance FAQ's
Get the answers you're looking for
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.
Do I also need professional indemnity insurance?
Professional indemnity insurance covers you in the event that your advice or instructions are directly responsible for harm or damage to people or property. If you, as a contractor, ever give advice to clients about what work they should have done, or what they should do to maintain things, it would be wise for you to take out professional indemnity cover in case your advice leads to unforeseen problems.
Is contractor insurance a legal requirement?
No, the only type of insurance that is legally required of a contractor is employer’s liability insurance. However, it is advisable that you take out contractor insurance to cover you in the event that some unforeseen incident or accident takes place. When the unexpected happens and you don’t have the right insurance cover, you could find yourself severely out of pocket.
How insurance for contractors works
Examples of Tradesman Insurance in action
An £80,000 Miscalculation
A general contractor was performing building renovations in an office block using gas-powered generators and hardware. The contractor neglected to adequately ventilate the building, or contain the emissions from the equipment as he worked. Employees in a nearby area of the building began experiencing headaches, nausea and respiratory issues. An air quality investigation concluded that the emissions from the construction equipment had caused increased levels of CO2 in the building. The contractor was liable for causing the illnesses, resulting in 30 employee bodily injury claims totalling more than £80,000.
A costly ladder fall
An independent contractor who regularly carries out work for a multitude of different organisations through the year is contracted to carry out building and maintenance work for a college, all under a contract for services. While carrying out maintenance work on the lighting fixtures inside the college’s auditorium, a worker falls from a ladder causing an injury, whilst also damaging one of the lighting fixtures they were working on during the fall.
What was covered?
With a policy including public liability, employer’s liability and contract works cover in place the contractor is covered for the employees injury claim up to a sum of £10 million as well as the cost to replace or repair the lighting fixture the employee was working on but damaged during the fall.