What is carpenters’ insurance?
There is more at risk when working as a carpenter than a splinter or two. Spiky nails, sharp saws and the tangled wires of an electric drill all present hazards that can affect not only you, but your employees, clients, and any other third party that might be nearby.
And with this heightened chance of injury comes a greater risk of a claim being made against your business. But you don’t have to work without protection. Carpenters’ insurance can help cover the legal fees and compensation costs if such a situation were to arise.
Due to the hazards mentioned above, the core of any comprehensive carpenters’ insurance package is public liability insurance. It gives you cover in case a member of the public, including your customers, is injured or has their property damaged because of your business activities.
» COMPARE: Public liability insurance
Product liability insurance, meanwhile, covers you if someone is injured or has their property damaged, by either a product you have sold them or work you have done for them once it has been completed.
Part of your job as a carpenter may be to advise clients, or provide them with designs and specifications. If your client is unhappy with the work you have done, or it causes them to suffer a financial loss, professional indemnity insurance can help with the costs of a claim made against you.
» COMPARE: Professional indemnity insurance
As a carpenter, your tools are your livelihood. That’s why another huge consideration is tools and equipment insurance. This can help replace your tools if they are lost, stolen or accidentally damaged.
And you will legally be required to have employers’ liability insurance if you employ anyone that isn’t a family member or based abroad. This is to cover the costs related to an employee suffering an injury, or falling ill, due to the work they do for you.
Other types of insurance for carpenters to consider include personal accident cover, commercial building insurance, business contents insurance, stock insurance, and the right level of business car insurance.