Miniseries: Other Types of Insurance

In the final instalment of our miniseries on Insurance we’re looking at the other types of insurance we haven’t yet covered.

Professional Indemnity

Professional Indemnity is a different type of Liability insurance and will cover you for any testing certification, design planning or service you perform for a fee.

It is related to the understanding and skill you provide rather than the carrying out of the work and will cover you for mistakes that could have occurred or any negligence on your part.

This makes this type of insurance best for those who complete designs, inspect others work or those who work for places where this cover is required, i.e. the Government.

Legal Expenses

Some insurers offer cover for legal expenses for any type of civil dispute related to your work such as; employment disagreements, health and safety charges and tax or debt disputes.

Legal expenses tend to be costly so insurance to cover your for this possibility is a good idea for all electrical contractors.

Personal Accident Cover

Personal accident cover can cover you if an employee is injured. With electrical workers facing many dangers, being covered for your employee accidents is very wise. If you have employees working for you, you should be seriously considering getting this if you don’t already have it in place.

Always check your policy to identify what you are, and are not, covered for and ask your insurer whether your policy covers you for anything you think you might need.

Written by Sara Thomson