The best tradesman policy for your business is the one that gives you the cover you need, at the cheapest price.

The cost of your insurance will depend on:

  • The nature of your business, e.g. if you are an electrician or a plumber

  • How many staff you employ

  • Your annual turnover

  • What cover you need, e.g. for tools and equipment

Get online quotes from as many different insurers as possible, so you can find the policy that is right for you at the best price.

What cover do you need?

This depends on your business circumstances, but you should think about:

  • Public liability: This is the most basic level of cover you need, as it covers your business if you are sued by a third party. It covers injury, illness or death caused by your work, or damage to other people's property.

  • Employers' liability: You legally need this cover if you employ paid or voluntary staff, including labour only subcontractors. You need a minimum cover limit of £5 million, but most insurers automatically cover up to £10 million.

  • Tools and equipment cover: This can protect tools or equipment you own, or hire. For example, if you hire machinery for a project and are responsible for the insurance.

  • Contract works: This covers work you have already started if it is damaged before the contract is complete. For example, you have started an extension on a house that is destroyed by fire. Here is more information about contract works insurance.

Can you protect your income?

Yes, you can cover income you lose if you are unable to work because of an insured event. For example, your business premises is flooded.

You can also protect your income with: