Carpenter insurance is an essential form of financial protection should mistakes in your work or unexpected accidents cause injury, damage, loss, or dissatisfaction to your employees or clients. Comprehensive packages are designed to cover everything from legal fees and medical bills to compensation and loss of earnings if things go wrong.
Carpenter insurance is applicable to carpenters, joiners, and any sole trader or limited company business that offers woodworking services. This may include cabinet makers, door installers, stair builders, window frame manufacturers, shed erectors, and more.
There is no single type of carpenter insurance product that will meet all needs, so most carpenters insurance packages will be made up of a number of vital policies, such as:
Public liability: Should a client or member of the public make a claim for injury, loss, or damage, this ensures you’re financially protected. An example of a public liability claim is if you accidentally dent a wall while hanging a door.
Employer liability: Should an employee of your business suffer injury or property damage/loss on the job, this insurance keeps you protected. An example would be an employee tripping over a tool and an injury while working at a client site.
Professional indemnity: Should a customer be unhappy with your work, this type of policy helps to protect your finances. An example would be if you were hired to build a cabinet for a client, but they were dissatisfied with the workmanship.
There are other types of cover that may come as part of carpenter insurance packages, or that can be added on as extra policies. Tools cover, which protects against damage, loss, or theft of business equipment, is often recommended for carpenters who rely on their tools to conduct their job. Van cover is also recommended for any carpenter or joiner who relies on a commercial vehicle for reaching sites.
If you employ one or more people, it is a legal requirement to have employer’s liability insurance which protects you from claims made from your employees. Other forms of carpenter insurance are not mandatory by law, but will often be a mandatory requirement by trade associations. Some clients may also ask for proof of insurance.
From circular saws and nail guns to hammers and utility knives, carpenters and joiners use a wide range of hand tools and power tools that inject a level of risk into the job. Coupled with the fact that even despite care, attention, and years of experience, things can – and certainly do – go wrong, and it’s clear this is a very high risk profession.
Only you can decide if non-mandatory carpenter insurance is right for you and your business. However, ask yourself whether you could afford to pay for costly repairs should you damage a client’s property, pay compensation if a member of the public is injured by your work, replace your tools if they’re stolen, or pay legal fees if taken to court.
If not, then carpenter insurance is vital.
As there are many different policies that you can choose to take up under a carpenter insurance package, the cost of your premiums will vary. Price will depend upon:
The good news is that comprehensive carpenter insurance can work out to be less than you think, especially when you compare quotes and choose the right insurer.
At BuildSafe, we see our role as an independent advisor, who reviews the merits of each policy to help you make well-informed comparisons. We also save you time in procuring quotes, analysing and comparing quotes, and negotiating the commercials.
The procurement of quotations is a time-consuming process. From form filling, providing documentation, chasing, reviewing and comparing terms, negotiating and finalising; we take the weight out of all of this for our clients allowing you to focus on actually developing your business.
No. Our business is built on retention and referrals. It is essential to state that the insurer will release the same terms to us, as they would to you directly. We are able to use our position within the market to gain leverage with providers. This means we can generally gain more favourable terms than the market price and often help our clients save as much as 30%. We are paid by the insurer for introducing the business to them and this cost is included in the price quoted.
Build Safe is a trading name of London Belgravia Brokers Ltd, Registration Number: 9069586 . Trading address is 60 Margaret Street, London, W1W 8TF. London Belgravia Brokers Ltd is an appointed representative of Ten Insurance Services Ltd, which is authorised and regulated by the Financial Conduct Authority.
60 Margaret StreetLondon W1W 8TF
020 3701 0422
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