Groundworkers have a number of unique challenges and considerations to make when getting a policy. This article deals with some things you should think about – or take advice on – before you buy your insurance.
What is included in a Groundworkers Insurance policy?
Policies vary from one insurer to the next. Commercial insurance policies – including those for groundwork contractors – can be complex. But the good news is that means a policy can be identified and tailored to your businesses specific needs. Typically, a groundworkers’ insurance policy will need to include:
You will most likely need public liability, employers’ liability and possibly product liability cover. The first two can help protect you when a claim is made by a member of the public or an employee (including casual labour or sub contractors) and you need to defend yourself or make a compensation payout.
Product liability could offer you protection against costs where material you have supplied is alleged to be defective or caused a problem of some description.
It might be that you set up a cabin as a site office. You will need to insure this and, potentially, its contents.
Machinery and plant
Whether its owned or hired in, plant and machinery will need to be adequately protected.
You and your team will likely have a range of tools at hand for you to be able to do your work. From hand tools to more specialist equipment, cover can be arranged that protects’ these valuable assets.
There are many other options and considerations, ranging from contractors all risk cover, through to VAT and tax inspection protection. Give us a call today and speak with one of our experienced insurance advisors. We can ensure you get the adequate protection you need for all aspects of your groundworker business, without paying for cover you don’t need.
What are the key considerations to be made when buying a groundwork contractor insurance policy?
Groundworkers have a number of unique challenges and considerations to make when getting a policy. Here are some things you should think about – or take advice on – before you buy your insurance:
Groundworkers insurance policies typically come with a depth limit stipulated. This maybe 1m, 2m, 5m or sometimes more. It’s important to check that you have the correct depth limit in place, because any work below that limit that gives cause for a claim may not be covered. If the claim is successful, your policy may not pay out for it, leaving you with a bill.
As with any policy, the excesses (the amount you have to contribute to a payout) vary, and can be high, especially those relating to the ‘damage to underground services’ excess. Check the policy carefully to avoid an unpleasant and costly surprise when you find yourself needing to make a claim.
Some Groundworkers’ insurance policies come with a restriction on where you can work. It’s important to check that you’re covered on the sites where you work.
End of year additional premiums
You may be asked to declare your turnover and / or salary and subcontractor pay at the point of taking out a policy. Be aware that, if the actual turnover, salary or sub-contractor payments prove to be higher when they are checked at the end of the annual policy, you may find yourself facing an additional bill.
Why choose JM Glendinning to buy your Groundworkers’ insurance?
JM Glendinning is an established commercial insurance broker. We have years of experience finding cover for a range of construction trade businesses, including groundworkers.
We have access to a range of insurance providers and will take time to understand your particular requirements before recommending a policy for you.