Looking for the best deal on insurance for a self employed welder then make sure you get the cover you need as well as the best price on your insurance.
What insurance do I need as a self employed welder?
This depends on how you operate and how your business is set up, this could determine the types of insurance you need but the first consideration for anyone engaged in welding activities is to make sure that you have adequate insurance in place to protect you against claims from third parties.
Public liability insurance for a welder.
This protects the policyholder against claims in respect of their legal liability for personal injury or property damage sustained by others and arising in the course of the business. The standard policy protects you in respect of any compensation awards made against you and also covers the cost of any legal defence in respect of such claims.
The limit of indemnity under the policy is the maximum amount an insurer will pay I respect or any one claim or incident. These limits are set by you and it is your decision what limit you should insure for under your policy. Many welders will have terms and conditions imposed upon them, whether by contractual requirements or by a local authority, that will require them to have a minimum limit under their policy.
Common limits are £1M, £2M and £5M with other limits available upon request.
Use of heat and public liability insurance for welders
As a welder there will generally use of heat involved in the business by definition, if this work is undertaken on a work away basis, i.e. at the properties of third parties this can have ramifications on your insurance arrangements.
Many insurers will not issue a policy with a limit of indemnity in excess of £2M for businesses undertaking hot work away and in these circumstances any additional cover requirement can be attended to with a excess of loss policy, that provides the extra cover require. More information on excess of loss liability insurance.
Also, as with other businesses involving the application of heat your policy will also be subject to additional hot work or welding conditions that will specify the precautions that must be in place when this work is undertaken.
Additional Insurance for Welders
If you employ anyone within the business, you will need to consider employers liability insurance. This is a legal requirement in the U.K. for most employers.
You may also wish to consider insurance in respect of your tools and business equipment.
Both these additional insurances may be added to your basis welders liability insurance policy
How do I buy insurance for a self employed welder?
You can apply on-line at our website or you can call us direct to discuss your requirements with a broker, who will be happy to assist and provide you with detailed quotes for your welders insurance.