Do you need plasterer insurance?

As a tradesperson, your focus will be on running a profitable business. But you also need to keep a wary eye on the risks you may face.

Although plasterers can earn a good income, it’s a trade that is not without risk. Particularly from injuries, which can happen to even the most experienced tradespeople.

What is plasterer insurance?

As with any type of insurance, plasterer insurance is there to protect your trade business. Insurance policies are designed to provide cover against a range of business risks.

How plasterer insurance works

Business cover as a plastering contractor works similarly to any other property, pet or car insurance:

• You pay regular premiums to the insurer, usually monthly or annually
• Your policy covers a set period, usually 12 months, but it can vary according to your needs
• Insurers pay out on valid claims within the terms of your insurance contract with them

Always carefully check your insurance policy before you go ahead. You want to make sure:

• Your insurance covers all the things you need it to
• You don’t already have the same insurance cover on another policy

What does the insurer provide?

With plasterer insurance, you should receive:

• Financial protection – payments to you on valid claims
• Advice and support – when you make a claim or if a claim is made against you

But where should you start? Why get covered in the first place?

Why you need plasterer insurance

If you’re wondering whether you need business insurance as a tradesperson, the answer is probably yes.

What risks do plasterers face at work?

Let’s start with you. When you’re at work, you or your colleagues could suffer from:

• Dust and fumes
• Being hit by falling objects
• Repetitive strain
• Slips and trips
• Skin irritation
• Eye injury
• Falls from height
• Manual handling injury (such as HAVS)

Of course, there are many ways to avoid accidents. The Construction Industry Training Board offers some useful health and safety advice for plasterers.

But unfortunately, as the saying goes, accidents do happen.

Who does plasterer insurance protect?

Insurance offers more than just personal protection. With plasterer contractors insurance you can covert:

• Your staff and any contractors who work for you
• Your customers
• Members of the public
• Your vehicles, tools, plant, machinery and equipment

Businesses are expected to have certain types of insurance. One of the most common is public liability insurance for a self-employed plasterer. That also applies to a plasterer working in a partnership or as a limited company.

When might you benefit from having plasterer insurance?

• If you, an employee, a customer or a member of the public is injured in relation to your work
• If you damage property
• If a customer has issues with your work
• If your vehicle, tools, machinery or equipment are damaged or stolen
• If you have to take time off work

If you’re thinking of joining Checkatrade, then you’ll need to have some forms of cover in place. All of our members must have public liability insurance, which is why we’ve partnered with Superscript, so you could save around 20%.

We monitor whether you have the right cover when you sign up, and as part of our ongoing member checks.

Types of plasterer insurance cover

Here are the main types of plasterer insurance. First, carefully consider each. Next, decide whether they can protect your business if the worst happens.

Public Liability insurance (PLI)

As we’ve said, this should probably be a priority. Consider this insurance whether you’re looking for public liability for a self-employed plasterer or a company policy.

PLI offers cover for damages to property owned by a member of the public. It also covers accidental injuries that may occur to members of the public.

For plasterers, this is important if you:

• Work in public places
• Use tools or equipment that could cause injuries

We help our members to save on PLI. Log in to our Member’s Area to find out how.

Employer’s liability insurance

Employer’s liability insurance offers protection for your staff. It’s a legal requirement for many businesses. Always check whether your trade business needs this cover.

Tools, equipment, plant and machinery insurance

Plasterers use a range of specialised tools and equipment. Some can be quite expensive. Tools insurance can give financial protection if items are damaged, lost or stolen.

Vehicle insurance

Plasterers typically have to bring their equipment and tools to jobs. Having a vehicle is often a must for plasterers. It’s another type of business asset that you can insure. Van insurance can keep your business on the road if you have a vehicle mishap.

Stock and materials insurance

It often pays to buy stock and materials in bulk. If you do, then this type of insurance offers a financial safety net against loss or theft. Similarly, insurance can cover stock left on-site with customers during jobs.

Professional indemnity insurance

We all want to do the best possible job that we can. But sometimes things go wrong. Professional indemnity insurance helps if customers have issues with:

• Poor workmanship
• Mistakes or errors in your work
• Costs you charge

Income protection insurance

If you can’t work because of injury or other reasons, then plasterer insurance can help. Income protection insurance provides financial support if you can’t earn the money you need from your plasterer business.

Your claim has to be valid, so check what your policy covers. It should pay out depending on the amount of cover you take out. This could be around two-thirds of your regular pre-tax earnings.

What’s the cost of plasterer insurance?

Look for the right balance between how much your insurance policy costs and what you might get from it. Avoid having too much or too little insurance cover.

In this article, we give you an idea of what insurance you may need. It’s up to you to decide what plasterer insurance is best for your business.

How much you pay will depend on the insurance products you choose. This can be affected by:

• The type of plastering work you do
• The turnover of your trade business
• How many staff or contractors you have
• How much you want to be covered for
• Whether you have made previous insurance claims

What to look for in a plasterer insurance policy

Research different insurers to find one that provides exactly what you need. Areas to consider include:

• Is the insurer flexible so you can increase or decrease levels of cover at any time?
• Do they offer discounts for multiple insurance products?
• Will they allow you to pay either monthly or annually?
• Do they provide free information or a helpline to support you?
• How quickly do they commit to settling claims?

Some forms of insurance can also be claimed back as business expenses. Different policies will have different rules, so if you’re unsure on this front, you can always consult with an accountant or financial advisor.

Key takeaways

• Plasterers insurance can protect you, your business assets and your staff if accidents occur, customers complain or members of the public are injured
• You pay a premium to buy plasterers insurance for a set period
• Plasterers insurance offers financial protection by making payments on valid claims and can provide advice as well
• Make sure you choose the right types of plasterers to cover all the business risks you may face
• The cost of plasterer insurance will vary according to the risks it covers as well as the type and size of your trade business