Contractors Combined Insurance
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Contractors Combined Insurance
Contractors and construction businesses can face a wide range of risks from the work they carry out, whether that’s working on domestic properties, commercial premises, construction sites or larger projects.
From accidental damage to client property and injuries to employees or members of the public, to theft of tools, damage to materials or problems affecting work in progress, having appropriate insurance can help protect your business against certain unexpected costs and claims.
Contractors combined insurance brings together different types of commercial insurance under one policy, allowing cover to be arranged around your trade, the work you undertake and the way your business operates.
At 1st Choice Insurance, we help contractors, tradespeople and construction businesses consider their insurance requirements and arrange appropriate cover through a wide panel of insurance providers.
Get a Contractors Combined Insurance Quote
If you’re looking for contractors combined insurance for your business, our team is here to help.
Call 03301 081608 to discuss your requirements or complete our online quote form for a tailored quotation.
What Is Contractors Combined Insurance?
Contractors Combined Insurance is a package of commercial insurance covers designed for businesses working in the construction and contracting sector. Rather than arranging every type of insurance separately, a combined policy can bring several areas of cover together.
The exact cover available will depend on your business activities, the insurer, your individual circumstances and the policy you choose. Depending on your requirements, Contractors Combined Insurance may include public liability, employers’ liability, contract works, tools and equipment, plant and machinery, hired-in plant, business interruption and legal expenses cover.
Combining different covers can also make it easier to manage your business insurance, with the relevant sections arranged around your particular contracting activities.
Who Needs Contractors Combined Insurance?
Contractors Combined Insurance can be suitable for a wide range of businesses involved in construction, building, property maintenance, installation and other contracting work.
This can include general builders, construction contractors, groundworkers, electricians, plumbers, carpenters, joiners, decorators, roofing contractors, flooring contractors and other trades.
It can also be relevant to businesses that work as main contractors or subcontractors, depending on the nature of their contracts and responsibilities.
If your business involves working on construction sites, carrying tools and equipment, using plant or machinery, employing staff or undertaking work under a contract, it is important to consider the risks associated with your particular activities.
What Does Contractors Combined Insurance Cover?
The cover included within a Contractors Combined Insurance policy will depend on your business and the insurer’s underwriting requirements. Common sections can include the following.
Public Liability Insurance
Public Liability Insurance can provide cover if your business is held legally responsible for injury to a member of the public or damage to third-party property arising from your business activities.
For contractors, this can be particularly relevant when working on customer premises, construction sites or other locations where members of the public, customers or other contractors may be present.
The level of cover required can vary depending on your work and contractual requirements.
Employers’ Liability Insurance
If you employ staff, Employers’ Liability Insurance is generally a legal requirement, subject to certain exemptions.
It is designed to cover your legal liability for injury or illness suffered by employees as a result of their work for your business. The requirements can vary depending on your employment arrangements, so it is important to ensure your policy reflects how your business operates.
Contract Works Insurance
Contract Works Insurance can provide cover for construction work while a project is being completed, depending on the policy wording.
It may cover certain physical loss or damage to contract works caused by an insured event. This can be particularly relevant for contractors working on building, renovation, installation or construction projects.
The cover available can depend on the type of contract, project value, construction work and other factors.
Tools and Equipment Insurance
Tools and equipment can be essential to your day-to-day work. Insurance may be available to cover tools and equipment against risks such as theft, accidental damage or other insured events.
Cover can vary depending on where the equipment is kept and how it is used. For example, tools kept in a vehicle may have specific security requirements or policy conditions.
Plant and Machinery Insurance
If your business owns plant or machinery, cover may be available for physical damage or loss caused by insured events.
This can apply to a range of construction equipment, depending on the policy, including items used for groundwork, excavation, building and other contracting activities.
Hired-In Plant Insurance
Contractors often hire equipment for specific projects rather than purchasing every item of machinery they need. Hired-In Plant Insurance can provide cover for certain loss or damage to hired equipment, subject to the policy terms.
This can also be relevant where a hire company requires you to have appropriate insurance before equipment is released.
Business Interruption Insurance
Business Interruption Insurance can provide financial support following certain insured events that cause interruption to your business.
Depending on the policy, cover may help with certain additional costs or loss of income following an insured event. The circumstances in which a claim can be made will depend on the policy wording and selected cover.
Legal Expenses Insurance
Legal Expenses Insurance may provide access to legal assistance and cover for certain legal costs arising from insured circumstances.
For contractors, this could potentially be relevant to certain contractual, employment, property or other business-related legal disputes, depending on the policy.
Benefits of Contractors Combined Insurance
Multiple Covers in One Policy
One of the main advantages of Contractors Combined Insurance is that several areas of commercial insurance can be brought together under one policy. Rather than arranging each section separately, you can discuss your requirements as a whole and select the covers that are appropriate for your business.
Cover Designed Around Your Trade
Contracting businesses can vary considerably. A self-employed electrician will have different insurance requirements from a construction company using heavy plant and employing several members of staff. Contractors Combined Insurance can be structured around the activities your business actually undertakes, subject to insurer availability and underwriting criteria.
Protection for Work in Progress
Construction and contracting projects can involve significant amounts of work, materials and investment before a project is completed. Contract Works Insurance can provide cover for certain insured events affecting work in progress, helping you manage the financial implications of unexpected damage where the policy provides cover.
Cover for Tools, Equipment and Plant
Contractors can rely on tools, machinery and equipment every day. Including appropriate cover for these items can help your business respond if insured loss or damage occurs, subject to the policy conditions and exclusions.
Support With Contract Requirements
Some customers, main contractors and construction projects may require contractors to hold particular types or levels of insurance. Having the relevant covers in place can help you meet contractual insurance requirements where applicable.
Protection Against Liability Claims
Working on customer premises and construction sites can expose businesses to liability risks. Public Liability and Employers’ Liability Insurance can provide protection against certain claims where your business is legally liable and the circumstances fall within the policy cover.
Easier Insurance Management
Bringing several relevant covers together can make your commercial insurance easier to manage. Your insurance requirements can be reviewed as a whole, helping ensure the policy reflects changes to your business, contracts, equipment and employees.
Additional Insurance for Contractors
Contractors Combined Insurance can provide a range of important covers, but you may also need other commercial insurance depending on your business.
Commercial Vehicle Insurance can cover vehicles used for business purposes, while Fleet Insurance may be appropriate for businesses operating several vehicles.
Professional Indemnity Insurance can be relevant if your business provides professional advice, designs, specifications or other professional services. Directors’ and Officers’ Insurance may also be considered by limited companies where appropriate.
Cyber Insurance can be relevant to businesses that rely on computers, software, online systems or hold customer and business data.
The right combination will depend on your business activities, so it is important to consider your wider insurance requirements alongside your Contractors Combined policy.
Frequently Asked Questions about Contractors Combined Insurance
Is Contractors Combined Insurance suitable for sole traders?
Contractors Combined Insurance can be arranged for a range of businesses, including sole traders and self-employed contractors, depending on their activities and the cover required.
Does Contractors Combined Insurance include Public Liability?
Public Liability can be included as part of a Contractors Combined policy, subject to the insurer and policy selected. The level of cover required will depend on your business and any contractual requirements.
Is Employers’ Liability Insurance included?
Employers’ Liability can be included where required. If you employ staff, you should check your legal obligations and make sure the insurance arrangement reflects your employment situation.
Does Contractors Combined Insurance cover tools?
Tools and equipment cover may be included, depending on the policy. Conditions can apply to how tools are stored, transported and secured, so it is important to check the policy wording.
Can I insure construction work that is still in progress?
Contract Works Insurance can provide cover for certain work in progress against specified insured events. The cover available will depend on the project and policy terms.
Can Contractors Combined Insurance cover plant?
Plant and machinery cover may be available for owned equipment, while separate Hired-In Plant Insurance may be appropriate for equipment hired for particular projects.
Do contractors need Public Liability Insurance?
Public Liability Insurance is not generally a legal requirement for every contractor, but it can be an important consideration and may be required by customers, main contractors or contracts you undertake.
Can I include business interruption cover?
Business Interruption Insurance may be included or available as an additional section of cover, depending on the policy. It is designed to respond to certain interruptions following insured events and is subject to the policy terms and conditions.
Can I include commercial vehicles?
Commercial Vehicle Insurance can be arranged separately or alongside your wider commercial insurance requirements, depending on your circumstances. If you operate several business vehicles, Fleet Insurance may also be worth considering.
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