Construction industry insurance

Essential Insurance For The Building Trade

The construction industry is like many others in the UK with its own unique set of challenges and risks. There are many steps that a construction company can take to protect itself from the hazards that are part of the construction process, but none as important as the proper insurance. Any time machines and people are in close proximity there is the potential for injuries and accidents. In the United Kingdom, businesses are required to carry a minimum amount of employer's liability insurance to protect against the inevitable accidents that will occur. The employer's liability will protect your employees and your business by providing the funds for treatment of injuries or illness suffered by employees, and any legal proceedings that may result. Employer's liability is mandatory and other types of coverage may also be required depending on your situation, but trying to get away with the bare minimum is never safe. There are a multitude of things that can happen on or off the job site that can put your business in real jeopardy.

One of the most important elements of business protection for construction companies is public liability protection. This is different than employer's liability in that is protects people other than your employees and other businesses. This type of protection is paramount for any aspect of the construction process, damage to adjoining properties and injuries to those outside of the workforce are very common at construction sites. Unfinished job sites can be a magnet for curious children and vandals, and you need to be prepared just in case. Even if an individual has trespassed onto a closed site you may be financially responsible, and with out the backing of public liability coverage any damages awarded will fall on your shoulders. Even if the situation is not your responsibility, you still need the resources to navigate through the legal process.

Construction has several inherent risks and the best was to protect your business outside of insurance, is to follow a strict regiment of safety procedures. Safety equipment and procedures will reduce your risks, and for many insurers they are mandatory. Many policies have these procedures spelled out in detail and are often in the fine print, demonstrating the importance of knowing your policy. This is where working with your provider is extremely important, you need to know exactly what is covered and under what conditions. Using this information you can develop a prevention plan that works with your coverage. If a claim is filed and your business is found without certain procedures in place, your claim may be denied and you can possibly be sued for any compensation the insurer has paid out on your behalf.

Weather and mother nature can be a construction companies worst enemy, from weather delays to undermining the integrity of structures due to run off and erosion, the notorious UK weather can prove one the biggest challenges you may face. The United Kingdom is known for catastrophic and sudden floods, and is not immune to violent storms and even tornadoes. When it comes to weather and acts of nature, you may need explore more than just the basic types of protection mentioned above. Property and building protection, and specific event cover like flood insurance may be your best solution. By combining these policies, you can implement a protection plan that is designed for your needs. Taking a serious look at your risk factors, along with the help of an experienced provider will assure that when disaster does strike, you will have the resources to respond quickly and confidently.