Scaffolding insurance is one of the most important kinds of business insurance you can have, but many scaffolding companies don’t realise that until it’s too late. Whether you’ve bought scaffolding insurance before or are looking to buy it for the first time, there are some aspects of scaffolding insurance that you should know about before committing to your policy. From general policies to special provisions to exclusions and limitations, knowing what you’re getting into can help you get the right coverage and make sure that your business is protected throughout all stages of its development
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Why Do I Need It?
Liability insurance policy in liverpool can provide financial protection for your scaffold business in the event of an injury or accident. For example, a contract worker working on a construction site falls from the scaffold and breaks their arm. Without liability insurance, they may be able to sue you for compensation. As a result, your company could find itself paying out thousands of pounds in damages.
Types Of Cover
There are a number of different types of cover for scaffolding insurance, and the type you need will depend on the size and nature of your business. Your liability insurance should be tailored to reflect your particular needs, so speak to one of our friendly advisers today. Once you’ve found an appropriate liability insurance policy it’s important that you ensure that your staff also have adequate cover.
If anything were to happen to your staff whilst they’re carrying out their duties then they could find themselves without work or with no income, which is why it’s essential they have access to workplace injury insurance as well as public liability insurance.
Should I Get Indemnity Or Third Party Liability Only Cover?
Both types of scaffolding insurance are important and necessary. Indemnity cover will pay you the cost of repairing or replacing any damage that your scaffold causes, while third party liability insurance will pay out if someone is injured on your scaffold or if it causes damage to another person’s property. The type of cover you should buy depends on your circumstances and priorities; however, there are some key points you should consider before deciding which is best for you.
How Much Do I Need?
The liability insurance you need depends on the size of your company and the type of work you do. Scaffolders who work on residential projects will have a different insurance requirement than scaffolders working on commercial or industrial projects. Regardless, if you’re in business, you should have liability insurance to protect your assets and make sure that your family is protected.
Are Materials Included In My Policy?
No materials are included in your policy. It is a common misconception that your scaffolding insurance policy includes the scaffolding you use. This is not the case, and you will have to purchase your own scaffold equipment separately.
Can I Insure Temporary Structures Too?
You can insure temporary structures as long as they meet certain criteria. Temporary structures are generally defined as those that are set up for less than six months, and not used by the same person or company more than three times in a year. It’s worth noting that a scaffolding business might need contractors insurance if their work involves public access, hazardous materials, or a high-risk environment.
