
Insurance for high risk trades can often be an expensive business for obvious reasons. However using a specialist broker who understands these specific needs and knows which insurers are best suited to your requirements can help you to get the best deals.
Here are some of the most common high risk trades and how a specialist broker can help with insurance for each.
Demolition Services
Insurance for demolition can be difficult to come by due to its high risk nature and the time involved. Different types of demolition projects also need different types of cover due to the variety of risks, the amount of planning and preparation required and the extent and containment of the demolition. Insurance companies that do provide cover often include tough restrictions and conditions so using a specialist broker who understands the ins and outs of the demolition industry and its unique insurance requirements will help you to get the best possible deal.
Scaffolders
Scaffolders take on a high risk of accident, injury or even death, with the majority of scaffolding accidents resulting from falls. While it is therefore probably the trade for which it is most important to have adequate insurance, the high risk nature means that it can be difficult to get adequate insurance without paying through the nose for it.
Using a broker that specialises in high risk professions like scaffolding means that not only will you get the insurance cover you need with more reasonable premiums, but you can also ensure that you are covered for any extras that might be needed in your industry. For instance you may need to include public liability insurance that also covers accidents involving members of the public and the legal fees and financial implications that can arise from this. If you employ staff or sub-contractors then you also need make sure they are adequately insured.
A specialist broker will understand exactly what insurance you need as well as what health and safety requirements you need to meet in order to ensure your policy isn’t void in the event of a claim.
Roofers
Roofers have on of the top ten most dangerous jobs in the world, with 25% of employee fatalities following a fall from height being roofers. This means that it’s vital that those in the roofing industry protect themselves with the right insurance. Like Scaffolders, employee insurance (including cover for sub-contractors in certain circumstances) and public liability insurance are a must. And as with Scaffolders, meeting health and safety requirements and any other requirements stipulated in your policy is important to ensure your policy isn’t voided. Once again, using a broker who specialises in high risk construction trades will help you get the best deal, make sure you get the right cover and ensure you understand the requirements of your policy.
Asbestos Contractors
Because of the toxicity and life-threatening nature of asbestos and the strict regulations that control the removal of asbestos, working as an asbestos contractor is also considered a high risk trade and won’t be covered by your common or garden variety insurance. A specialist broker who understand the industry and is able to get you adequate cover and rates (whether for licensed or non-licensed asbestos removal) is invaluable to ensure you get the best deal for your requirements.
These are just a few of the high risk professions that Construction Insure specialise in. Why not give us a call today to discuss you insurance solutions for high risk trades