sole trader liability insurance

Discussion in 'Builders' Talk' started by busy builder, Aug 23, 2010.

  1. busy builder

    busy builder New Member

    Any recommendations ? mines due again but its pretty inadequate.
    only £1m liability, no tool cover, no temp employees cover

    and £103 pa.

    Surely I can do better ?
     
  2. sinewave

    sinewave Screwfix Select

    U can get £5 Mill cover plus £6K tools for around £350 with Direct Line Trademans insurance.
     
  3. dryliner essex

    dryliner essex New Member

    THATS SOUNDS ALOT,TRY SWINTONS.
     
  4. mainman

    mainman New Member

    try trade direct without tool cover we pay about £80.00 you can add tool cover and what ever else see details on line
     
  5. goldenboy

    goldenboy Super Member

    Got to be honest, I dont have any public liability insurance, there is no legal obligation to have it despite what insurance companies will have you believe, my workshop is strictly private property and I only work in domestic properties, I dont ever work on public areas, public liability is a pointless waste of money in my opinion, I have never known anyone claim on it, it is simply a product designed to allay non existent fears of today litigious society. I am exceptionally careful workwise and anyone trying it on to get a big payout will soon forget about it when they realise there is no insurance company ready to write a cheque, anyone trying it on would have to pursue me personally and I wish them luck, they would need it. As for any damage to customers property, I will sort them myself or pay for others to.
     
  6. chippie244

    chippie244 Super Member

    Well Goldenboy I've always known you were cocky but that beggars belief.
    I pay about £75.00 for £2M PLI + £1000.00 tool cover + prof indemnity and a few other bits and as it's tax deductible why not.
    I hope I never claim on it but I also insure my vehicles fully comp even though I am an excellent driver, not.
     
  7. EXPERTGASMAN

    EXPERTGASMAN New Member

    GB, what type of work do you do? What if you are up a ladder or on a roof, and, say, drop a tile or brick. Hitting an old car might be a nuisance, hitting a roller could be difficult, hitting a person would be didastrous. Don't you own a house etc?
     
  8. goldenboy

    goldenboy Super Member

    Why is it cocky? I have no legal obligation to have it and choose not to, PLI is a relatively recent invention of insurance companies catering to paranoia of legal action. Do not be lulled into believing that just because you have PLI the insurance company will cover the costs, if you havent followed every tiny detail of accident prevention and health and safety, you may as well have not bothered taking it out. Also check your small print on tool coverage, most only cover you when you are in the vehicle and exclude coverage between 6pm and 6am on public roads, ie pretty pointless.
     
  9. EXPERTGASMAN

    EXPERTGASMAN New Member

    Again, GB, I ask what type of work do you undertake?

    Do you explain clearly to your clients that you have no PLI. You may not ever claim on it, you may feel ythat you are the most careful guy in the world. But we're talking relevant peanuts.
     
  10. goldenboy

    goldenboy Super Member

    All carpentry and joinery, why should I explain that I choose not to have PLI, there is no legal obligation to have it, as and when I am legally obliged to I will take it out.
     
  11. chippie244

    chippie244 Super Member

    I did claim on the tool cover earlier this year and got back over a grand, £75 well spent.
     
  12. goldenboy

    goldenboy Super Member

    I am pleased that you got paid out. I just think that for me
    personally I would rather buy a van with a steel bulkhead, spend £50 and half a day fitting additional proper locks(not those pointless stick on lockshield ones that everyone has at the moment) on my rear doors and sliding doors and live with the risk. I have doubles of most tools anyway and the others are in my workshop. Life is about choices, I am happy with mine.
     
  13. chippie244

    chippie244 Super Member

    No problems but I'm just happier having the insurance and I've had a mate who works in H&S draw up a H&S policy and risk assesments and all the rest of the * which ticks the boxes if the worst happens.

    [Edited by: admin]
     
  14. I agree totally with the Gasman!

    Accidents will always happen when you least expect them or why would they ever happen at all?

    Personally I would never employ a tradesman who didn't have cover.

    Ironically in these days of blame culture it's my experience that a claim will be made by the very employee that was negligent in the first place.

    For what it costs per working day, surely it's worth the premium? We've all seen the photo's of people with a Paslode nail through the head, this is just the kind of accident that could happen if you fell of a ladder with a tool in your hand or if your assistant stood up at the wrong moment; helmet on or not!

    At least if you have the policy - you won't be made homeless!
     

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