In order to develop tailored cover options at competitive prices for a variety of businesses and additional occupations insurance companies have introduced a range of policies as a group referred to as tradesman insurance.
At its core the tradesman insurance package is in reality a third party liability insurance cover that provides third party liability cover to meet the requirements of a variety of trades and business activities for a cost efficient third party liability insurance protection.
In practice the tradesman insurance policy has been enhanced by many insurance companies to include an extra range of insurance covers designed to cater for the broader insurance needs for small businesses, regardless of whether these be limited companies, partnerships or sole traders.
In all cases the third party liability insurance section of the contract remains obligatory although the limits of indemnity under the policy may be selected to meet your requirements, at the same time as the other coverage provided under the policy are elective at the request of the policyholder.
The public liability coverage under the package is pretty much standard in the insurance market, providing cover for the insured in respect of claims made against it for personal injuries and property damage caused by the policyholder in the normal course of their business. As this is a mandatory cover, it also forms the base of the premium calculations for the package with this being a mixture of the industry or occupation concerned, the number of people working within the firm and the levels of indemnity required under the policy.
The optional coverage available within the cover vary from insurance company to provider, with some insurers providing a quite broad choice of additional options that can in some cases rival the coverage offered by a more fully fledged commercial business or commercial combined policy.
The optional covers that are for the most part commonly found are;
Employers liability insurance, protecting the insured in respect of claims made against it for legal responsibility for injury sustained by employees during the course of their employment. A legally required cover for most employers in the United Kingdom. Contracts are generally to be issued with a typical limit of indemnity of 10 million pounds.
Personal accident coverage indemnifies the insured and employees where required against economic loss caused by an incapability to work as a result of injury. The benefits under this section may provide a weekly income, that even though available in standard limits will not exceed a specified proportion of the persons normal weekly pay.
Business equipment or tools of the trade cover offers property damage insurance in respect of loss or destruction of the insured business tools or business equipment. there are usually options within this section of the as to the maximum sum insured and the times of day when the protection will apply.
Additional options that are obtainable from selected insurers only are contractors all risks insurance, stock insurance and business interruption insurance.
It is a quite straightforward matter to obtain quotes for tradesman cover from a large number of independent business insurance brokers across the world wide web and specialist brokers will be in a position to advise you as to the additional cover alternatives that might be to be had for your company or trade.
At its core the tradesman insurance package is in reality a third party liability insurance cover that provides third party liability cover to meet the requirements of a variety of trades and business activities for a cost efficient third party liability insurance protection.
In practice the tradesman insurance policy has been enhanced by many insurance companies to include an extra range of insurance covers designed to cater for the broader insurance needs for small businesses, regardless of whether these be limited companies, partnerships or sole traders.
In all cases the third party liability insurance section of the contract remains obligatory although the limits of indemnity under the policy may be selected to meet your requirements, at the same time as the other coverage provided under the policy are elective at the request of the policyholder.
The public liability coverage under the package is pretty much standard in the insurance market, providing cover for the insured in respect of claims made against it for personal injuries and property damage caused by the policyholder in the normal course of their business. As this is a mandatory cover, it also forms the base of the premium calculations for the package with this being a mixture of the industry or occupation concerned, the number of people working within the firm and the levels of indemnity required under the policy.
The optional coverage available within the cover vary from insurance company to provider, with some insurers providing a quite broad choice of additional options that can in some cases rival the coverage offered by a more fully fledged commercial business or commercial combined policy.
The optional covers that are for the most part commonly found are;
Employers liability insurance, protecting the insured in respect of claims made against it for legal responsibility for injury sustained by employees during the course of their employment. A legally required cover for most employers in the United Kingdom. Contracts are generally to be issued with a typical limit of indemnity of 10 million pounds.
Personal accident coverage indemnifies the insured and employees where required against economic loss caused by an incapability to work as a result of injury. The benefits under this section may provide a weekly income, that even though available in standard limits will not exceed a specified proportion of the persons normal weekly pay.
Business equipment or tools of the trade cover offers property damage insurance in respect of loss or destruction of the insured business tools or business equipment. there are usually options within this section of the as to the maximum sum insured and the times of day when the protection will apply.
Additional options that are obtainable from selected insurers only are contractors all risks insurance, stock insurance and business interruption insurance.
It is a quite straightforward matter to obtain quotes for tradesman cover from a large number of independent business insurance brokers across the world wide web and specialist brokers will be in a position to advise you as to the additional cover alternatives that might be to be had for your company or trade.
About the Author:
Blackfriars is a specialist liability insurance broker providing instant online access to low cost quotations and cover for tradesman insurance and an expert professional broking service from a team of liability insurance specialists.
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