Even the most skilled and experienced of plasters recognises that working as a tradesman is associated with a number of risks. From aesthetic damage to flooring or furnishings through to compromising first fix electrics, accidents can be a matter of a simple mistake or a spell of bad luck, but can have significant consequences for you and your business. However, it is possible to protect yourself by ensuring that you have adequate plasterers insurance.
Why is Plasterers Insurance Needed?
Any business or trade which involves direct contact with the general public requires public liability insurance. This type of insurance is mandatory and provides protection against any third party claims. Public liability is generally considered the cornerstone of a plasterers insurance package, which can also include workers compensation, tool protection and vehicle coverage. However, these insurance policies should not be taken for granted as they can provide you with the reassurance that you can continue to trade even if you make a mistake or have an accident.
Generally, public liability covers you for any third party injury or damage to property. This can range from damage to flooring from a spot of wet plaster, through to a member of the public tripping over your ladders and injuring themselves. While this incidents may seem minor, they could represent a claim for thousands of dollars. For example, a simple splodge of wet plaster that misses a drop cloth and lands on a clients floor, could prompt a claim for replacement carpeting throughout the whole room. This could severely compromise your cash flow and decimate your capital reserves.
Other Benefits of Plasterers Insurance:
Public liability is not the only important aspect of plasterers insurance. Your package could also include tool coverage in the event that any of your tools or equipment are lost, stolen or damaged. Imagine if you go out to lunch and leave your tools in your van while you go to buy a sandwich. Your ability to work would be badly damaged if you returned to your vehicle and found all of your tools had been stolen out of the vehicle. Since, most vehicle insurance policies will not cover trade equipment, you could find yourself badly out of pocket. This would not only hamper your ability to get straight back to work, but it could be the financial burden which breaks your business.
Another insurance which may be beneficial is personal accident and illness coverage. This type of policy is essential for those who work for themselves. Since your potential to earn would disappear in the event that you are unable to work, this coverage would replace your income while you recover from an injury or illness.
If you are interested in learning more about plasterers insurance packages or any trades insurance, contact us. Our specialist advisers would be happy to discuss your specific requirements and assist you in tailoring the perfect insurance solution to provide maximum protection and reassurance. This will allow you to concentrate your efforts on growing your core business.
Julia Robret has broad and deep experience in insurance field. She also writes articles in her spare time. Presently, she is writing contents on Plasterers Insurance .