What type of insurance is required?
Whatever your business type one common, and what is considered essential is Liability Insurance. Public Liability for a Flooring Contractor is no different to the cover provided for let’s say a Manufacturer, it provides protection to both types of business for any loss, damage or injury that may be caused to a third party such as a member of the public.
For manufacturers or retailers of flooring as well as distributors or wholesalers, Product Liability insurance is essential. Just like Public Liability it covers loss, damage as well as injury which may have been caused by the product itself, the insurer will not only defend but will also pay costs and any compensation awarded, subject to indemnity limits.
Employers Liability, is not only essential it’s a Legal Requirement if the business has people carrying out work for it, including for example Labour Only Sub-Contractors and even voluntary workers.
Flooring Manufacturers Insurance?
A flooring manufacturers insurance policy will need to include a wide range of covers, the raw materials such and plastics or natural materials for carpets, timber for hardwood or engineered flooring or a large stock of natural stone products.
Business property insurance is a necessary requirement covering such as buildings you work from, all the plant and machinery, the fixtures and fittings, even down to computer systems for production.
In the event of a loss at the business premises, Business Interruption insurance will save the day, it will keep your business going whilst the premises are repaired or rebuilt. Paying the overheads such as leased machinery costs, rents and wages whist you carry on rebuilding your business back to its former self.
Goods in Transit insurance can be an important part of your policy, it can protect your products when moving from one place to another whether by your own vehicles or with carriers.
Liability insurance, essential cover to protect you and your business against alleged negligence.
Business Vehicle Insurance, or Commercial Vehicle Insurance as its commonly know is essential for delivering your products to customers.
Insurance for Flooring Importers and Distributors?
With ceramic tiles, carpets, laminates, stone and timber flooring products being imported from all over the world its essential that a distributor or wholesaler has the correct covers in place.
Marine insurance could very well be required, this covers your products on their journey from their origin overseas to their destination here in the UK, protecting the goods whilst in transit against fire, theft, loss and if travelling by container then the possibility of loss at sea.
An importers warehouse needs certain types of insurance, cover for racking and storage, machinery such as forklifts, conveyor systems and lifting plant.
A business involved in the Importing of flooring products needs good Products Liability insurance to protect them against claims where its alleged the products has caused damage, injury or loss to someone or their property.
Carpet and Timber Flooring Retail Shop Insurance?
With the domestic sector purchasing through specialist shops, a retailer’s insurance policy is required. As shop insurance package is designed to cover most eventualities a carpet shop or timber flooring outlet might be exposed to.
A carpet shop will need a wide range of covers, having racking and display systems for stock, computer systems and perhaps EPOS, forklifts for loading and unloading, business Interruption to keep you in business should the worst happen, money cover and the essential liability insurance because the general public will be on the premises.
Sometimes a carpet or wooden floor retailer will have fitters, whilst they may be self-employed its prudent to ensure whether you are responsible for them, if for instance they fit flooring on a full time basis for you they could be sub-contractors and are your responsibility.
Vehicles are an essential part of your business, having motor insurance is a requirement whether that is a large van for collection or delivery, or you supply your fitters with transport. Not only is it prudent to cover the vehicle for any damage that happens to it, if its on the highway it’s a legal requirement to have motor insurance.
Mezzanine Flooring Installers & Contractors Insurance
Possibly considered to be a higher risk part of the flooring industry, Public and Employers Liability insurance plays a large part in the protections needed, use of steelwork, working at heights and in some cases may be using heat can set you apart from your industry colleagues.
Mezzanine flooring contractors may have expensive own plant or may hire in plant, specialist cover is available to protect it when its being used on your sites or when hiring whilst it’s on hire to you and your responsibility.
Why use Real Insurance to Cover your Flooring Business?
As commercial insurance brokers we have many years helping our clients to find the best insurance products that match their requirements.
We only deal with certain industry sectors which means that we go out of our way to really understand your business. We have excellent and longstanding relationships with insurers, we work closely with them to get the best deal for your business.
Above all we are not a call centre, we can and will give advice where necessary to guide you through your Flooring Industry Insurance requirements.
Speak to one of our commercial team today about your insurance requirements.