Crafters Insurance

Towergate can offer public liability insurance policies with cover from £1 million up to £10 million or higher. The amount you need will depend on several aspects:

• Your business activities
• The type of locations and environments you are working in
• The processes involved, particularly if these are of a high-risk nature involving any application of heat-work i.e. blow lamps/torches or welding.

When you are contracting with companies, please check with them to find out if there is a minimum amount of public liability insurance required.

The cost of your crafters insurance will depend on what your business is and therefore how much cover you require. This will determine the level of risk for the insurer.

Your public liability insurance cost will depend on a number of factors, including:

• Your trade or profession and the hazards associated with your activities – e.g. work at height, depth, use of heat (blow lamps, welding equipment), types of materials used
• Where in the world you work and the activities carried out - e.g UK-only and/or Europe, or worldwide – including or excluding USA/Canada
• Number of employees, clerical or manual, and if you have any sub-contractors
• The limit of indemnity you require - £1 million, £2 million, £3 million, £5 million, £10 million or higher
• What is included in your public liability insurance quote (standard level or extra covers)
• Your past claims history
• For larger businesses, estimated annual payments to direct employees - clerical/manual, labour-only and/or bona-fide sub-contractors
• The size of your business e.g. turnover (the more work you do, the greater the risk exposure and the higher the premium)

Your risk management and health and safety record

Public liability insurance is not usually a legal requirement like employer’s liability insurance, but there aren’t many businesses that can safely operate without this protection.

Despite all the precautions under the sun, accidents can and will happen, and being vulnerable to a lawsuit can spell disaster for a growing business. As our public liability insurance can cover up to £10 million, the importance of having this protection is clear.

While public liability insurance is therefore not required by law, it is likely to be necessary for your business to operate successfully.

No, public liability cover is not a legal requirement, but as you will have employees under you supervision and control  you will have a legal duty to arrange Employers Liability insurance. This cover will normally be bought alongside Public liability cover.

Yes, public liability insurance is tax deductible when calculating taxable profit, as an 'allowable expense' (an expense you can deduct when calculating taxable profit for your tax return). It is included in HMRC’s definition of allowable expenses.

When you buy your public liability insurance, be sure to keep your receipt and your policy documents safe so that you can show your tax calculations if your business is checked by HMRC. Also, if you have an accountant that does your tax return, you will need these documents to show them the cost of your cover so they can calculate it correctly and ensure your public liability insurance is tax deductible.

While public liability insurance provides cover against claims from members of the public for damage to their property or bodily injury caused to them due to your negligence. Employers' liability insurance protects the business from allegations of accidental bodily injury or illness to employers sustained whilst engaged in business activities for you. If you are at fault the policy will initially cover your legal defence costs and then will pay any court awards for injury.

As soon as you become aware of a claim or potential claim being made against you for injury or damage:

• Notify us so that we may alert your insurers.
• Pass all correspondence on to us unanswered.
• Do not ignore or dispose of any letters from any representative of or anyone making a claim against you. The claim is unlikely to go away and the situation will only get worse if not attended to promptly.

We recommend that you:

• Meet your legal obligation to record accidents in your accident book.
• Follow RIDDOR procedures
• Report all accidents to your insurers.
• Do not accept responsibility or agree to pay compensation even if you think it is obvious that it is your fault.
• Allow your insurers to investigate and advise you of the best course of action to be taken.

If you accept liability before referral to your insurer’s then you could prejudice you and your insurers' ability to defend any claim made against you.

To help you spread the cost of your premiums, we offer a quick and easy direct debit instalment scheme for spreading payment over ten months, through our preferred provider, Premium Credit Limited (PCL). Please visit our dedicated instalment Direct Debit page to find out more.

A variety of payment options are available and the interest transaction charge and annual percentage rate (APR%) vary according to the amount of the premium, the number of monthly instalments and type of premium finance scheme selected. We will give you full details of the additional amount payable, instalment amounts, number of instalments and APR when you ask us for a quotation.