7 reasons why painters & decorators need tradesman insurance

Painting and decorating is a highly skilled profession which requires years of training and on the job experience. It can be a very satisfying profession, as well as a potentially lucrative one, if you’re a self-employed painter and decorator.

Painter and decorator insurance will give you peace of mind that your business is covered if a job doesn’t quite go as planned.

An accident whilst at work, an unhappy customer, your van and tools being stolen – all of these instances and more can cause untold stress and be costly to rectify.

Public liability insurance is the most common type of insurance for trades professionals, but many other types of insurance will cover your business, employees, customers, and members of the public.

1. Meeting the requirements of the law

In the UK, there are very few insurances that you’re required to hold by law. For instance, you are legally bound to carry employers’ liability insurance if you employ staff.

As with many contracts, there may be legal requirements attached to a particular project. Typically for trades and construction work, you are required to carry public liability insurance before you are allowed on-site. As such, it’s advisable to check your contract to ensure you are comprehensively covered.

2. Meeting the requirements of the project and the main contractor

Many self-employed tradesmen work onsite for a main contractor, as well as undertaking their own projects. As a painter and decorator, winning a contract for a main contractor for new build housing estate could be extremely lucrative.

The main contractor will usually have a list of required insurance policies, with specific levels of cover, that you must carry before the main contractor will award you with the work.

Some main contractors may also want subcontractors they hire to be accredited with the regulatory body for their specific profession. In the case of a painter and decorator, this could be the Painting and Decorating Association.

3. Mitigating the risks with liabilities insurance

Prevention is always better than cure; but, no matter how neat and tidy you may work, accidents will still occur which can cause property damage and personal injury.

Accidental spills of paint, turpentine or wallpaper paste can cause slip hazards and potential property damage to walls, carpets, and flooring, if the spills are walked in and spread around a home.

Hazards to members of the public can include your tools and materials, especially if they left unattended on or close to pathways. These risks and others, are why public liability insurance is such an important form of cover for tradespeople.

Many self-employed painters and decorators employ junior members of staff to help with the manual workload and to pass on their skills to the next generation of painters and decorators.

You are legally required to hold employers’ liability insurance, under the Employers’ Liability Act (1969) and it is a criminal offence not to carry cover if you employ staff, with minimum of £5million of cover.

The policy will enable you to meet the cost of compensation for your employees’ injuries or illness, which can include medical costs, legal costs, and loss of income, as well as other damages.

You must be aware that you can be fined £2,500 for every day you are not properly covered. You can also be fined £1,000 if you do not display your EL certificate or if you refuse to make it available to inspectors when they ask for it. (1)

4. Cover for personal accident or illness sustained on the job

Manual professions typically pose a higher risk of accidents and personal injury. Lifting heavy materials, working with paints and glues, working at height or in cramped spaces, to name but a few instances which can cause a strain injury, cuts and bruises, or serious injuries which can cause you to be unable to work.

Personal accident insurance covers work-related injuries and illnesses and can pay out a lump sum or an ongoing payment to cover loss of earnings.

5. Protecting your vital tools and trade materials

Tool theft is big business, what’s worse is that it isn’t difficult to get away with!

If a thief wants to break into your van they will do. No alarm or lock will deter them if they see an opportunity to make a quick buck by stealing and selling your vital tools.

Having your tools stolen can be disruptive and they can expensive to replace, especially if you don’t have tools insurance. At Caunce O’Hara we offer tools insurance as an addition to our public liability insurance, with 5 levels of cover available from £1,000 to £5,000.

6. Contract works insurance will cover work you’ve already completed

Contract works insurance, sometimes known as ‘contractors all risks’, will cover the cost of re-doing work that is part of a contract, including the cost of the tools, materials and labour, if the existing work is destroyed by fire, flood, or theft.

7. Failed installation of the product

Product failure be due to the product being installed incorrectly, rather than the product itself being faulty. Trades professional indemnity insurance provides cover for your painting and decorating business to cover the costs of defending a negligence claim and compensation awards. It could save you a lot of money and stress, as well as helping to maintain your good reputation.

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Sources:

1. https://www.gov.uk/employers-liability-insurance