Am I covered for undertaking Phase 3 work as an electrical contractor?
Yes. Your electrical contractors policy covers you for all Phase 3 work you may undertake.
Why do I need specialist electrical contractor insurance?
Some general liability policies may not cover you in the event of a major specific incident connected to your work as an electrical contractor. It is therefore wise to have specialist and tailored cover for the activities you are undertaking. Contractors public liability insurance covers you for consequences of defective workmanship (DW), for example bodily injury caused to third parties or damage to their property arising from defective work carried out by your business. Please note insurance is not a guarantee of your work, it covers the consequences of poor workmanship, not the cost of redoing the work.
Are labour-only sub-contractors covered in the same way that direct PAYE staff are under the employer’s liability policy?
A labour-only sub-contractor is a temporary employee under your direct supervision and control, to whom you provide the work, tools, materials and training necessary for the job. They are covered in the same way as your full-time employees. Some policies are based on the maximum number of employees and labour sub-contractors you employ at any one time during the year. As a key eligibility and rating factor its important that the correct numbers are declared when applying for a policy. Please ask us if you are unsure or have any queries.
Do you offer contractors all-risks insurance for electrical contractors?
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Yes, we can offer all-risks cover as part of our electrical contractors insurance policy, covering loss or damage to the contract works, own plant and tools and also to hired-in plant, arising from a variety of unforeseen causes, except those that are specifically excluded such as electrical or mechanical breakdown or gradual causes such as deterioration, corrosion, fading, etc. We will provide you with full information as to what is and isn’t covered so you can make an informed decision whether to arrange a policy.
Is the financial rating of an insurer an important factor?
As the system measures an insurer’s financial situation, allowing you to predict their ability to meet ongoing policy obligations, it is an important factor.
Also, there are a number of main contractors that will not sub-contract works to any companies not insured with an insurer with a minimum of an A-financial rating (as determined by established ratings companies). If you have any concerns about whether this may affect your business or have any questions around the rating of an insurer speak with one of our advisors.
Can I pay for my electrical contractors insurance in instalments?
To help you spread the cost of your premiums, we offer a quick and easy direct debit scheme for spreading payment over ten months. Please visit our dedicated Direct Debit page to find out more.