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.