Contractors Insurance is a form of policy designed to cover those who are contracted in on projects of various nature.
Typically insurance for contractors covers companies like electricians, plumbers, engineers and other tradespeople who are contracted in to work on a bigger project such as a large scale construction project.
It can however also cover people like IT professionals or freelancers alike and not just those within a “traditional” trade.
By the very nature of people working on different contracts and projects, often simultaneously rather than a regimented order, it is prudent to have cover in place to guard against any accidents, faults or errors in a contractors work.
It is also important that contractors insurance offers you versatility to take into account your ever changing work situation and the different locations to which you will work.
Generally speaking, the 3 types of Contractors Insurance you should consider are:
- Public Liability
- Professional Indemnity
- Employers Liability (a legal requirement if you have employees or sub contractors working for you)
Often, contractors take out an all encompassing policy called “Contractors All Risks” and it is simply that – it pretty much covers any risk a contractor would face in a variety of different circumstances, for ultimate peace of mind.
