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Saturday, July 20, 2024

Why is Insurance as a Tradesman Important?

 

With the housing market currently booming, tradesmen are in high demand.  

According to a recent survey of 1,000 people in the UK, nearly two-thirds (64%) said that they had to request a tradesperson during 2020, with over half (52%) claiming that spending more time around the house throughout lockdown had made them aware of issues that needed fixing. 

The survey also uncovered which trade was most in-demand across the UK, with plumbing issues taking the top spot for call-outs (23%), closely followed by electrical problems (11%). This is most likely due to these facilities being used much more than usual due to the recent rise in remote working and the fact they require a greater degree of specialist knowledge. 

Whether you’re an electrician, a painter, a plumber or a plasterer, there is a list of essentials you have to consider in order to excel in your trade.  

In this article, we explore exactly what it takes to be a successful tradesman and how having the correct insurance can benefit you and your business.  

How can a tradesman stand out against competitors? 

There are several ways that you can stand out from the crowd and begin to build up a good reputation within your local area and beyond. Upholding professionalism across each job you complete will help to spread positive feedback among clients through word of mouth, which is crucial in the decision-making process of 74% of consumers. 

Ensure you are constantly considerate when working within clients’ homes, taking care to clear up any mess after you’ve completed the task at hand. Alongside this, it’s imperative that you have the correct insurance in place before attending any call-outs to ensure you’re covered for any eventuality.  
 
How can a tradesman know what type of insurance they require?  

While all businesses need insurance, different industries will require different types of cover. For example, an electrical contractor would need to look into electricians’ insurance, whereas the owner of a doctors surgery may need medical malpractice insurance or public liability cover. The trick is to do your research before taking out any new policies.  
 
Why is insurance important?  

No matter what sector you’re operating in, having the correct insurance in place is vital to protect you against unforeseen circumstances. Even the most skilled practitioners can get things wrong sometimes, and accidents can happen. 

Having the right insurance in place can ensure you don’t end up having to fork out huge amounts of money from your own pocket if anyone ever happens to make a claim against you. Such an event could be catastrophic for your business. 

 
 
 
 

 

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