What Insurance Do We Have As A Company?

We have a number of different types of insurance we require to operate as a company, the number of which has increased as we have grown.

Public Liability Insurance

Public liability is the first insurance all companies require in this industry. This covers our clients if we happen to make a mistake. This could be anything from knocking over a chair to damaging a main water pipe. So far, we have only had to use this once in 10 years, however, it is more beneficial to have it and not need it than the alternative. This can cost us anywhere up to £18,000 a year.

Professional Indemnity Insurance

Professional indemnity insurance covers our clients and ourselves in the case of errors in calculations in design. Due to the nature of our electrical installations and lighting designs coming from ourselves, we feel it is prudent to ensure our clients are protected, in addition to allowing the checking and double-checking our calculations.

Van Fleet Insurance

We also have van fleet insurance to enable members of staff to drive their work vehicles.

We currently have 11 vans in operation across varying sizes; this means we can send different engineers out in different vehicles depending on the demands of each individual job. In addition to this, some of our nearly qualified engineers also have individual insurance due to their ages.

Contractors All Risk Insurance

Contractors All Risk (CAR) insurance is a comprehensive policy tailored for construction projects, offering protection against various risks. It encompasses property damage coverage for materials, equipment, and structures against perils like fire and natural disasters, as well as liability coverage for third-party bodily injury or property damage.

Additionally, it may include coverage for contractor’s equipment, advanced loss of profits (ALOP) due to project delays, and professional indemnity for errors in professional services. Exclusions and limitations exist, such as wear and tear or certain perils like war. Policy limits and deductibles should be carefully considered to ensure adequate coverage. Overall, CAR insurance is crucial for contractors to manage risks effectively throughout their projects.