What does a Joinery Business Insurance Policy cover?
A manufacturing joinery business will have similar insurance requirements to other businesses that are workshop based, big or small. Joinery contractors though working on site would better benefit from other covers specific to the locations where they work.
If you work from premises such as a workshop you need to have a wide range of insurance that will cover your specialist woodworking machinery, the extraction systems as well as all the business fixtures and fittings and of course those specialist tools you use daily.
Insurance for your premises is there to protect your business against losses for such things as Fire, Storm, and in recent years a larger exposure to Flood, theft is also a major concern where there are specialist portable tools.
Sometimes a loss at your business premises can mean you can’t return to working immediately, this could be a temporary interruption or if the damage is extensive then longer periods could mean that you lose business. Business Interruption insurance is there to keep your business in business whilst the premises are rebuilt.
Whether your business is as a manufacturing joinery company, which might involve some installation or your business is purely on site, Public Liability Insurance is essential for every business.
Public liability for a joinery business provides protection against anyone who might make a claim for any loss, damage or injury that is proven to be the negligence of the business or one of its employees, this might be damage to someone’s property.
Product Liability Insurance is an extension to Public Liability, in fact they both come together and wouldn’t usually be separated out. The cover provided is very similar to Public Liability, it will cover loss damage or injury where your product is at fault, using a nail gun for instance is a quick and easy way of connecting pieces of timber, however one may be left exposed which catches someone’s skin causing an injury, typically Product Liability would cover this type of injury.
What of the types of insurance might a Joinery Business require?
Of course there are many types of protections that can be purchased by a Joinery business and these can differ. The following are typical examples of cover that would benefit a joinery or carpentry business.
Goods in Transit Insurance – protects your raw materials or finished items whilst being transported or where you send them via a carrier.
Legal Expenses Insurance – providing defence cover where there are employee disputes, tax or VAT investigations and contract disputes cover, because even the best business relationships can go sour so having a legal helpline will help you make the right decisions.
Engineering Inspection – A service more than insurance cover. Where there is use of certain types of plant and machinery such as fork lift trucks, compressors and extraction systems these are required by law to be inspected – we can arrange this type of service for you.
Directors & Officers Liability – Protecting the Directors or Officers of a Ltd company against claims against them for wrongful acts.
Cyber Insurance – Even the smallest of businesses can become a victim of Cyber Crime, wide insurance protection is available.
Van and Multi-Vehicle Insurance – Getting from A to B is made easier by having vehicles, having a 3m length of 3×2 on the bus is going to be difficult – Comprehensive insurance is available for just one vehicle or for more than two, mini-fleet insurance is available.