Builders Insurance: Video Transcript

Hi, my name is Lorna and I’m an adviser for Towergate.
In this video we’re going to talk about the main features of a builder’s insurance policy.

So what is builders insurance?

Well builders insurance is a type of business and liability insurance for tradesman and specifically builders. It can cover you for most types of building work including:

building new or repairing old private and commercial properties surveying visiting properties for quotes public contracts general building jobs working abroad and even other tradesman work like gardening or plumbing if you need it.

The trick though is using a specialist insurer who not only understands the risk you face in your industry but also knows how to calculate the risk you personally face and therefore offer you a tailored insurance package that offers only the cover you need, so you don’t pay for anything else.

What does builders insurance cover?

A builders insurance policy will likely include:

Builders Liability Insurance

This is a package of liability insurance policies specific to the builders trade. It includes:

Public Liability Insurance for Builders

Public liability insurance which exists to protect the public in case someone is injured or killed, or their property damaged because of your business. At towergate for example we offer between 1million and 10 million pounds cover, how much you need depends or the work you do.

Product Liability Insurance for Builders

Product Liability which covers faulty products you may use, sell or manufacture.

Employers Liability Insurance for Builders

And Employers liability. If you have employees, contractors, casual workers or temporary staff, you are usually required by law to take out employers’ liability insurance. It’ll cover claims from employees who’ve been injured or become seriously ill as a result of working for you. It will also cover temp staff, contractors and interns.

Optional covers include:

Builder's Tools Insurance Cover

Theft or damage cover for your tools

Contact works

To cover on-going jobs from damage or prolongment

JCT (non-negligence insurance)

To cover work already completed

For more advice on builders insurance give us a call directly or browse the site for more videos and guides.

About the author

Mike Stephens FCII is a respected senior industry professional and Fellow of the Chartered Insurance Institute (CII) with well over 40 years’ varied experience in the commercial insurance sector as a director, underwriter, and operational improvement manager.