Why buy Steel Erectors Insurance?
Using lifting equipment to move heavy steels at heigh across busy building sites poses significant dangers. As a steel erector, you need to ensure you have comprehensive public liability insurance in place. It would protect you and your business in the event that something did go wrong and a member of the public, or another tradesman also working on site, made a claim against you that they had suffered an injury or loss as a result of your work. Public liability insurance for steel erectors would pay out for your legal costs in defending a claim, as well as any compensation payment that was subsequently rewarded.
A claim of this sort could cost a significant amount in legal defense costs, even where the claim was disproven. Compensation costs could be crippling to the business. It makes sense to make sure you have the adeqaute cover in place, and in many cases it will be a condition of your contract with teh main contractor or end client.
When buying steel erectors insurance, there are a number of further likely requirements beyond public liability. At Real Insurance, we have a proven track record arranging insurance for a range of trades, including steel erectors.
What cover is included on a steel erectors insurance policy?
As already stated, steel erectors public liability insurance is typically the most important requirement. Where you have workers, be they full time, labour only sub contractors or even casual, you must have employers liability insurance in place, too. You may wish to consider professional indemnity cover, which is particular;y important if you offer professional services.
Beyond that, a steel erectors insurance policy can be tailored to your specific needs. You may wish to protect your tools and equipment under the policy, as well as any owned or hired in plant and machinery. Steel erectors face a significant risk of injury, and it may be worth while taking out personal accident insurance. This would pay for medical care as well as loss of income for a period and up to the limit of the policy.
You can specify the limit of indemnity (the maximum amount the insurance will pay out) for each element of cover that you require. If you are a sub contractor, it may well be that your contract with teh main contractor or end client will specify cover that they expect you to have in place, and the indemnity. If you are unsure, speak with our team, who will be happy to discuss your likely needs, get to know your business and recommend particular policies.