Does my business need Liability insurance as a Metal Worker and Fabricator?
Public Liability insurance is the cornerstone of any insurance policy, it will protect your business in the event that a member of the public becomes injured or have a loss due to your negligence. This could be at your business premises, whilst delivering to your customers or even when you are installing on site. If you are working on site cover usually has to be extended to include work away from your own premises.
As a manufacturer sometimes problems can arise where your product causes injury to the user or damage to property because the product has failed due to you negligence, this could be incorrect welding which causes a boiler to fracture causing damage to other surrounding machinery. This would be referred to as Product Liability insurance usually accompanies public liability.
A fabrication workshop can be a hazardous environment, noise, heat, welding fumes, gasses, overhead cranes moving large pieces of metal around. Even with the best Health & Safety in place accidents involving employees can still occur and this is where Employers Liability Insurance will protect the business should a claim be made by an employee for injury whilst carrying out their work.
Public & Products Liability insurance have something called a limit of indemnity, this is the limit to which the insurer would pay a claim, we would always recommend £2million although higher limits such as £5million is commonplace.
If you employee people, whether self-employed or even voluntary Employers Liability insurance for a metal working or fabricating business is required by law.
What other types of insurance cover is available for a fabrication or metalworking business?
Hired in Plant and Own Plant Insurance – sometimes a business might require additional plant or machinery whether at their own premises or whilst away from the business. Having made an item such as a fire escape may mean that you also have to install as well, this could mean the hire of a cherry picker or small crane, if you hire in plant unless the hirers insurance is taken then its your responsibility.
Own plant insurance for installation of fabricated items needs to be insured separately, this can be purchased where required.
Engineering Inspection – more of a service than insurance although some providers will give a small amount of insurance cover. This service includes the inspection of lifted or pressure plant, this could be a Fork Lift Truck, or a compressor as well as extraction plant or equipment.
Machinery Breakdown Insurance – sometimes a machine will break down for no apparent reason, a vital component or circuit board. Insurance for such eventualities is available enabling you to get that machinery back to work and reducing the losses.
Directors & Officers Liability insurance
Single or Multi-Vehicle Insurance
Legal Expenses Insurance