Builders insurance

Whether you’re repairing properties or creating extensions, you have to deal with potential risks. In your line of work, accidents can be expensive, especially if they result in compensation claims.

From personal injuries to the damage or theft of equipment, your finances face a variety of threats. This means it’s essential that you have suitable insurance for builders in place.

At Markel Direct, we believe we offer superb value tailored business insurance to self-employed builders. Whatever your needs, we will craft a policy to suit you.

What is builders’ insurance?

Builder insurance is there to protect your finances if something goes wrong during the course of your work. It is an umbrella term that can incorporate a range of different types of cover. This can include everything from builders’ public liability insurance, to employers’ liability protection, to cover for your tools.

Do I need builders’ insurance?

No matter how careful you are, accidents can happen. And if they do, the consequences for your finances may be severe. For example, you might face major legal and compensation costs if one of your workers falls from height and suffers a serious injury. Or perhaps a customer will sue you for causing damage to their property. If you would struggle to cover these expenses yourself, you’ll need builders’ risk insurance.

Also, customers may sometimes require you to have public liability insurance in place before they will hire you for a job. And if you have people working for you, even if they do so on a temporary or part-time basis, you’re legally required to have employers’ liability cover. You could be fined up to £2,500 for every day that you lack this insurance.

There’s also the possibility that equipment you rely on to do your job is stolen, lost or damaged. Would you be able to afford to replace or repair your tools out of your own pocket? If not, you should make sure you have suitable cover in place.

You might find that you need various other types of insurance too. This could range from legal expenses cover to occupational personal injury protection.

Builders’ insurance cover doesn’t have to cost much but having it in place will provide your business with much greater financial security. It will give you peace of mind to know that you’re protected if something goes wrong.

Builders’ public liability insurance

While public liability insurance for builders is not a legal requirement in the UK, it should be a key consideration for your policy. It protects you against claims made by members of the public, including customers, who may have suffered an injury or had their property damaged, as a result of your work.

If, for example, the scaffolding you’re using for a job collapses and injures a member of the public who is passing by, they may seek compensation for their suffering. Our builders’ public liability insurance covers the cost of defending such a claim, as well as any damages you may be required to pay. We offer cover limits of between £1 million and £5 million.

Do builders need professional indemnity insurance?

If you offer professional services - such as designs or advice - to customers for a fee, then you could benefit from professional indemnity insurance. For example, you are paid to consult on a DIY project and you advise the client that it’s safe to knock down an interior wall. If you have made a mistake and that wall turns out to be load bearing, you could be liable for any resulting damage. 

This type of builders insurance not only covers the cost of defending your business if a client sues you for professional negligence, but also pays out any compensation awarded against you.

Builders insurance cost

Starting from £10 a month*, the price of insurance for builders varies depending on factors such as the level of cover you need and the types of risks you encounter at work. There is no ‘one-size-fits-all’ insurance policy that suits every builder. With our builders’ insurance quotes, you will be offered a range of covers, you can then pick and choose the specific types that best fit your business’ requirements - so you only ever pay for the cover you need.

By choosing Markel Direct as your builders’ insurance provider, you’re not only getting clear, transparent pricing with no hidden fees, but you also benefit from our more than 25 years’ experience providing insurance to tradespeople. To see what our customers think of us, check out our ratings on Feefo.com.

And that’s not all. We offer our policyholders a range of free legal services for their building business, including:

• 24-hour legal helpline manned by qualified solicitors
• Markel Business Hub access - with legal templates and resources
• Discounted IR35 contract reviews
• Expert management of public relations crises with The Counsel House

We can provide builders’ insurance quotes in 90 seconds. To discover more, simply get a quote today.

* Price based on a builder requiring £1 million public liability insurance cover.

From stolen tools to a flooded construction site to an injured passer-by, there are many risks facing a building business. No matter how careful and well-prepared you are, sometimes the worst happens. And when it does, you’ll want to know that you have comprehensive, specialist insurance to protect you. That’s why it makes sense to choose builders’ insurance from Markel.