Public Liability Insurance For The Self Employed Tradesman


Financial advisers and legal experts often tell self-employed individuals to opt for public liability insurance for two important reasons. The first reason is that this type of liability insurance plan can stop the possibility of legal problems like court cases and the second reason is the fact that this type of liability plan can protect the overall standing of the entrepreneur. Listed below are some facts that may help you understand which is the best public liability insurance plan for the self-employed tradesman?

Public Liability Insurance: The Basics

Public liability policies offer financial protection and legal protection to policy holders when they have been held liable for accidents at work. These policies ensure that the policy holder is not taken to court since the selected insurer will attempt to settle with the victim out of court in order to protect the policy holder. Remember, in order to get a payment from the insurance company to help solve the dispute, the policy holder will have to file a claim with the insurer. While some insurers set a maximum insured amount and a maximum per claims amount, other insurers do not set many limitations.

How Does Liability Insurance Help a Tradesman?

Liability insurance can ensure that the tradesman is not held liable for accidents that take place at work. In case anyone is hurt or has suffered damaged to property due to the tradesman’s fault, then the insurance company will attempt to solve the matter and prevent the problem from worsening. Liability insurance can ensure that the tradesman is not taken to court and that his reputation is not tarnished due to a mistake made at work.

What are the Features of a Liability Plan?

A liability plan offers a cover that can range from $5-$20 million. This amount is used when the policy holder is held liable and needs money to settle a dispute of liability. The policy holder can usually choose how much insurance he wants and he can also choose additional benefits such as insurance on portable goods. Depending on the insurance company selected by the buyer, an option to insure the building’s stock and contents may also be provided.

Am I Eligible to Purchase a Liability Policy?

Public liability insurance for the self employed tradesman are not only available to boilermakers, bricklayers, builders, carpenters, joiners, concreters, earthmoving contractors and locksmiths but also to other professionals such as electricians, flooring contractors, glaziers, landscape gardeners and painters.

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