Demolition Contractors Business Insurance
Needless to say demolition contracting is a risky business as if any thing goes wrong then your business is could dramatically suffer.
As a specialist contractor in demolition you have the duty of ensuring that the public and employees are insured in the event that anything goes wrong.
At 1st business insurance we are here to try and relieve you of some of the burden and take a weight off your shoulders, as we can insure you so that if an employee or a member of the public is injured whilst you are carrying out work then, if they sue you we will pick up the compensation costs.
So what are the policies that you need to consider?
- Public Liability Insurane
- Employers Liability Insurance
- Key man insurance
Public liability insurance is set to cover you in the event that you damage a third parties property or cause bodily injury or death to a member of the public.
For example if you drop a hammer and someone trips over it and breaks their back they will have grounds to sue you for compensation.
The average public liability claim is £565,000 if you do not have adequate insurance you could be liable to pay the whole amount, which is going to seriously damage your business.
Employers liability insurance is compulsory by law to anyone who has employees. It is set to cover the employer so that if an employee sues them for compensation they will have the resources to pay out the employee.
So how could a claim arise? There number of contingencies that can cause an employee to pursue an employer for compensation, here are a few:
- Sexual discrimination/harassment
- Racial discrimination
- Disability discrimination
- Wrongful dismissal
- Injury to employees
- Death to employees