If you own or run a flooring contractor or carpet fitting operation, you will know that you need insurance. However, as your company evolves, it can be easy to overlook a specific area of risk.
Our “Health Check” series examines individual professions and identifies the typically associated risks which you may need to consider.
Public Liability Insurance
If you are contracting to a larger firm or fitting for on behalf of a retailer, you will probably have been asked to provide a copy of your liability insurance policy before you started your first job, certainly before you got paid!
Public Liability Insurance protects your legal liability against claims for injury or damage as a result of the actions of you (or one of your employees) in the course of carrying out your work. For example, you put a nail through a pipe while fitting a skirting board or laying gripper rods.
Employers Liability Insurance
If you have any employees, no matter how casual or infrequent, you are required by law to purchase Employers Liability cover, this will indemnity you should an employee be injured during, or as a result of, their employment. For example, your assistant falls from a ladder while passing a carpet through a first-floor window, or is suffers a hand injury due to a faulty nail gun.
Tools, Equipment, Stock / Goods in Transit
Whether you operate from home or premises, you should consider covering your tools and equipment, it’s surprising how much it would cost should you need to replace it all in one go. If you hold any stock, make sure this is also protected.
- TOP TIP: If you leave tools or stock in your van overnight, check your policy documents to make sure that it doesn’t carry a restriction on overnight theft cover.
Van or Motor Fleet Insurance
Along with Public Liability, most people have this nailed (excuse the pun!), as a vital tool of trade buying the right insurance for your van(s) is critical. Look out for a policy that provides a courtesy van in the event of a claim, you may find it challenging to carry packs of flooring in the back of a Ford Fiesta!
As your business grows and you purchase additional vehicles, it is often more effective to buy a mini-fleet insurance policy.
- TOP TIP: Even if you operate a car and a van, you could consider the fleet option, as cover begins from just two vehicles. This could save you money and time in terms of administration and managing any potential claims.
Personal Accident and Sickness
I probably don’t have to tell you the strain that flooring and carpet fitting can put on your back and knees.
If you are injured or fall ill, either job related or through another activity such as sport, you may not be able to work, and this will directly impact your income.
A Personal Accident and sickness policy will provide a lump sum payment for permanent illness or injuries (such as a loss of limb) and a weekly benefit payment for temporary incidents (for example a broken leg following a football injury).
Home Office / Premises
If you own premises, then you will need to cover contents, stock and any fixtures and fittings etc.
However, as a mobile business, it is more likely that you operate from home and you may have a home office to carrying out paperbook or the dreaded bookkeeping!
- TOP TIP: Most home insurance policies can be extended to cover business equipment, often free of charge, but you must inform your insurers. If you have more extensive requirements or a storage unit, then a home business insurance policy is available to cover stock and business items.
FREE Business Insurance Review
At Insync, you can compare public liability insurance online. Alternatively, you may want to take advantage of our FREE Business Insurance review service. You can book a slot that suits YOUR diary via our website, or call one of our insurance gurus on 0330 124 0730.