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Central Heating Contractors Insurance
Overview
United Kingdom Central
Heating Contractors are responsible for making sure that heating systems
in homes and businesses are properly installed in order to provide heat
and ventilation throughout the living or working space.
This involves installing the main heating unit, either gas or electric,
radiators or other vents that provide the heat and a programmer, which
regulates the amount of heat and provide hot water when needed.
As a trade, central heating contractors face many risks. There are many
aspects of their jobs that involve drilling holes in ceilings and walls
that can cause damages. Pipes have to be installed throughout a home or
business that could unknowingly be defective, causing water damage should
they burst. The programmer installed could also be defective and cause
lack of or too much heat. If a client is unhappy with the work a central
heating contractor has done, claims can be filed by the client that could
cause major financial problems for the contractor.
For these reasons and others, it's very important for central heating
contractors to carry Contractors Liability Insurance. Contractor Liability
Insurance is an industry term that collectively describes the liability
insurances anyone in the central heating business need to handle claims
related to injury or illness to a person or party, and any damages that
occur because of the work performed by the contractor.
If you own a Central Heating business you need Contractors Liability
Insurance. Contractors insurance companies can be found by searching the
Internet. Whilst these policies generally speak of legal liability, if you
look for specifics to the central heating trade, you will probably find
features of contractor's liability insurance that apply to your trade.
They include:
Public Liability
Insurance
Public Liability
Insurance protects your legal liability of loss, injury or damage to a
third person or their property caused during the course of your business
dealings with the. Product liability can be added to a Public Liability
policy, which will cover any defective product or service you provided to
a third party. As examples, if you install pipes that are defective and
they burst causing injury to a person in the home, a Public Liability
claim and a Product Liability claim can be filed for injury and damages as
well as a claim for installing a defective product.
A Public Liability policy will likely protect you and your business should
you be sued for injury or damages that you are legally liable for. It will
also likely cover all legal fees involved. It will not cover you should
you hurt yourself. This would fall under Income Protection Insurance. The
premiums are reasonably inexpensive and the policy is considered very
important to have in the Central Heating Contractors trade.
The indemnity limits of a Public Liability policy should a claim be filed
usually begin at £1 million. There are options to increase this to £2
million, £5 million, £10 million depending on the risk involved. Most
central heating contractors opt for at least £2 million in cover because
of the nature of their trade and the risks involved.
Employers' Liability
Insurance
If your central heating
business has any employees, you must by law have Employers' Liability
Insurance. Employers' Liability protects you and your business against
claims raised by an employee for illness or disease, or injury sustained
by an employee whilst employed by you. In the UK, under EU law, the limit
for Employers' Liability is £10 million, which can be increased should you
feel you need more. The only exceptions to this rule are if your company
is limited and you as the shareholder is the sole employee and director or
if you have close relatives working for you. It is advised that you
discuss these exceptions with your insurance broker before deciding
whether coverage is necessary. When you purchase an Employers' Insurance
policy, you will receive a certificate that must be displayed where all
employees can read it. The certificate verifies that you do have
Employers' cover and gives details as to the amount and numbers of
employees included in the policy.
As a central heating contractor sole tradesman or business owner, you will
find by searching the Internet policies that can be tailored to suit your
liability needs, as well as cover for employees who are temporary,
part-time, full-time or in training. You will also find cover options for
you should you be injured or become ill and unable to work. There are also
additional insurances to cover tools. You can add business equipment cover
for lap tops, etc. and cover for equipment that might be in storage.
Should your business be interrupted because of unforeseen circumstances
that prevent you from carry out your services for a period of time, you
can look into Business Interrupted cover. There are many options to choose
from, and it will serve you well to research all the cover available to
you and decide what you need to maintain your business and have peace of
mind. Once you have looked at various insurance companies and options on
the Internet, remember to request a detailed summary of what is available
as well as premium quotes. After reviewing policies, discuss options with
an insurance broker who is familiar with the needs of central heating
contractors. If you have any queries that you are not sure about regarding
liability or employee insurance policy cover or any aspect of the contract
you are interested in, your insurance broker should be able to answer all
of your queries and advise you as to what will work best for your
circumstances.
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