First things first, what are higher risk trades within construction?
High risk trades within construction are those which could result in the loss or gain of huge financial remunerations. An example of this could be larger scale construction projects which may be responsible for millions of pounds. Similarly, steel erection, quarrying and diamond drilling are also considered high risk trades, particularly if it is a large-scale project or hundreds, or even thousands, of employees. Even smaller scale projects may be considered higher risk due to the potential dangers of hazardous locations involved so do speak to a specialist insurer to ensure you have appropriate cover.
Some of the high risk trades involved within construction include roles which handle hazardous waste, landscaping, groundwork, welding, tree surgery, quarrying, renewable energy manufacturers, civil engineering, demolition work, plumbing and heating work, scaffolding and building contracts. However, this list is not exhaustive so specialist insurers, such as Construction Insure, will be able to offer further advice on the cover required for your specific project or business.
Why is it so important to get the right trades insurance cover?
Depending on the type of construction project you are involved with, you will need to consider a whole host of options making sure that you are fully protected against any claims.
If you are a construction trade involved with higher risk jobs, it is even more vital that you have the appropriate insurance cover, ensuring the protection of you and your business.
With the correct insurance cover, provided by a specialist team, you can rest assured that your workers and your rights are protected, ensuring that risk is minimised for you, your employees and anyone else who may be involved with the construction project.
Why can going to a specialist insurer mean you get better cover for a better price?
For high risk trades, the benefits of using a specialist insurer are vast. With an extensive amount of professional knowledge, specialist insurers will be best placed to fully understand a client’s requirements. Insurance is a complex industry but we know exactly what cover you require, to keep your investments safe.
As our expertise is so specialised, we can give you very particular advice and explanations regarding your specific situation, whether that is as a property developer, building contractor or anything in between.
Specialist insurers will also know and carefully explain to you which cover is required by law and which is good practice but not essential. This will give you peace of mind, knowing that you, your employees and anyone involved with your construction projects are fully protected and compensated in the event of any unforeseen circumstances.
Construction insurers will also be able to guide you through exactly what is and isn’t covered, depending on which policy you opt for. And ultimately, knowing the industry inside out means that we will be able to negotiate the very best rates to meet your needs and budget, with access to a huge marketplace of options for cover.