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It’s important to have the right kind of insurance in place to manage risks and keep your business moving if anything goes wrong, especially if you work in construction and trades.\u00a0<\/span><\/p>\n

So what insurance do you need to protect your business? We have put together a list of a few types of insurance that you may want to consider.\u00a0<\/span><\/p>\n

Liability insurance\u00a0<\/b><\/p>\n

Liability insurance protects you from legal costs and fines if you or an employee accidentally injures or damages other people, their property, equipment or belongings. Policies can differ, but generally they cover you for compensation costs, legal costs and other costs you may have to cover while defending your case.\u00a0<\/span><\/p>\n

This is an essential part of protecting every business.<\/span><\/p>\n

Material damage insurance (tools, stock and plant)<\/b><\/p>\n

This insurance protects items you own and use for your business against theft or damage. This can be assets such as tools, stock, plant and any mobile devices you need to run your business.<\/span><\/p>\n

There are two types of policies:<\/span><\/p>\n

\n
• Replacement – This will pay the full cost of replacement with a new item<\/span><\/li>\n
• Indemnity – This takes wear and tear into account when paying your claim\u00a0<\/span><\/li>\n<\/ul>\n

  Commercial property insurance\u00a0<\/b><\/p>\n

  If you own a commercial building then this type of insurance covers you for damage from fire, flooding, or earthquakes. If you work from home, keep in mind that home insurance may not cover your property if you\u2019re using it for work.\u00a0<\/span><\/p>\n

  Commercial vehicle insurance<\/b><\/p>\n

  If you use a vehicle for work, you may need a commercial vehicle insurance policy. This will cover you in the event of an accident or theft. Don\u2019t rely on a personal vehicle insurance policy, as these will usually exclude you using it for any commercial purposes.<\/span><\/p>\n

  Transit insurance\u00a0<\/b><\/p>\n

  If equipment or stock is damaged by either you or a freight company, it is important to have this type of insurance to cover any risks during transit. You can buy this product one-off and it is very cost effective.<\/span><\/p>\n

  Professional indemnity insurance<\/b><\/p>\n

  If you\u2019re giving any form of advice to your clients, it is likely that you\u2019ll need PI insurance. It may not seem like a risk, but signing off LBP work or an electrician advising what type of product to use can leave you exposed. Cactus has custom, cost effective PI covers specifically built for LBP\u2019s and electricians.<\/span><\/p>\n

  Contract works insurance\u00a0<\/b><\/p>\n

  Contract works insurance covers a property during the construction period. This type of insurance is important as it protects from accidental loss or damage due to fire, flood, storm, vandalism or theft during construction. Depending on the type of policy, it may include the cost of labour, materials and tools required in order to get the job back on track.\u00a0<\/span><\/p>\n

  Get in touch with us today so we can get you covered.<\/span><\/p>\n

  [\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row el_id=”related-post”][vc_column][vc_custom_heading text=”Related articles” font_container=”tag:h2|text_align:center|color:%2313143e” use_theme_fonts=”yes” el_class=”title my-5″][vc_basic_grid post_type=”post” max_items=”4″ element_width=”3″ orderby=”rand” item=”918″ grid_id=”vc_gid:1636407076735-622415fe-38fd-9″ el_class=”related-posts mx-auto mt-3″][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

  [vc_row][vc_column][vc_row_inner el_class=”container”][vc_column_inner][vc_column_text] It’s important to have the right kind of insurance in place to manage risks and keep your business moving if anything goes wrong, especially if you work in construction and trades.\u00a0 So what insurance do you need to protect your business? We have put together a list of a few types of insurance […]<\/p>\n","protected":false},"author":1,"featured_media":5252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,9],"tags":[],"class_list":["post-5249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-insurance"],"acf":[],"yoast_head":"\n