Heating engineers insurance
As a professional heating engineer, it is important to protect your business against the risks you face on a daily basis. Given that you’ll be working with heating equipment – often in potentially hazardous environments – it’s sensible to ensure you’ve got the necessary safeguards in place to cover the costs of any accidents or mishaps that occur. A suitable heating engineers insurance policy can cover many of these eventualities.
Insurers may provide different policies depending on the types of property you work on, and may include clauses about working with asbestos products. Whatever your circumstances, it is important to talk through your business with your insurer or insurance broker who can then offer options to help ensure your policy is capable of meeting your particular needs.
You’ll find that many insurers offer discounts on their insurance premiums for members of professional bodies such as the Chartered Institute of Plumbing and Heating Engineering (CIPHE) or the Building and Engineering Services Association (B&ES).
Some of the forms of cover your insurer may offer as part of a heating engineers insurance policy include:
- Public liability insurance:
Public liability insurance can cover a variety of claims made by your customers and members of the public that your business activities – such as installations and use of tools and equipment – have caused them to suffer illness or injury. It can also apply if it’s claimed your business activities have caused damage to someone’s property. This cover can provide the finances necessary to defend against such claims and pay any necessary compensation.
Public liability insurance is usually offered as standard for heating engineers as much of your business activities are undertaken in the public space. You’ll need to make sure the cover includes working with heat – a factor which puts you at a higher risk than many other businesses.
- Professional indemnity insurance:
Professional indemnity (PI) insurance can prove useful for any professional who offers a service or advice. PI insurance can provide financial assistance if your customer claims the service or advice you have provided them has caused them to suffer material, physical or financial loss. This could include problems with your workmanship and any advice you offer to your customers regarding their heating or ventilation systems. In a similar vein, efficacy insurance can provide protection if a system you have installed fails and you are directly blamed for that failure.
You may also consider purchasing product liability insurance which can provide financial protection if a customer claims a product you have supplied or sold has caused them to suffer illness or injury.
- Employers’ liability insurance:
If you employ staff, whether in a clerical capacity or as engineers, you are legally required to purchase employers’ liability insurance. This cover can provide financial assistance if you need to defend against, or pay compensation for, claims from your employees that working for you has caused them to suffer illness or injury.
- Buildings and contents insurance:
If you are based at a business premises, buildings insurance can come in handy if the main structure of the building – including its fixtures and fittings – are damaged due to fire, flood, strong weather or vandalism and subsequently need repairing. Similarly, contents insurance can cover the cost of repairing or replacing items if your business contents are damaged, lost or stolen. This can include furniture, computers, portable business equipment, stock, raw materials and the tools of your trade.
- Tools insurance:
Your tools are an important part of your business and it can be difficult to continue your work if your tools are damaged, lost or stolen. Tools insurance can provide financial assistance if you need to repair or replace your tools or equipment, and can include cover for your tools while they are in overnight storage – either at your business premises or on site elsewhere. While tools insurance typically covers portable and hand-held items, plant and machinery insurance can provide financial protection for larger items which you may own or hire as part of your business operations.
- Contract works insurance:
Contract works insurance is also known as contractors all-risks (CAR) insurance and can be useful if the property you are working on is damaged, or the items you are using for your work are stolen while on the job. This cover can provide financial assistance to pay for subsequent repairs to the building, and to replace stolen tools, materials and equipment.
- Vehicle insurance:
If you regularly use a vehicle to transport materials, tools and equipment, you’ll need vehicle insurance, which can protect your vehicle and its contents against damage, fire, accidents and theft. If you have more than one vehicle as part of your business, you may consider motor fleet insurance.
- Cash on premises cover:
Cash on premises cover can be useful for protecting your business money against theft, including:
- While at your business premises.
- In transit to and from the bank.
- While transported from site to site.
- While in storage overnight in safes.
- Business interruption insurance:
Business interruption insurance can provide financial assistance if you are unable to trade due to an insured event, and can cover any loss of income you experience – and any increased cost of working – during the time for which you’re not operating at full capacity. Among other circumstances, business interruption insurance can apply if you’re waiting for tools to be replaced after theft, have lost access to your business premises due to weather damage or need to hire replacement staff.
- Personal accident insurance:
Personal accident insurance can provide financial assistance if you are seriously ill or injured and are unable to work for a period of time. This cover can provide compensation for any loss of income you experience, and may help towards medical bills and any adaptations you need to make to your home or business premises as a result of your injury.
- Directors and Officers insurance: If your business employs directors, officers or other executive-level members, you may benefit from Directors and Officers insurance, which can provide cover for these members if they are accused of committing wrongful acts during their work with you.
Further covers you may consider include:
- Jury service: this cover can provide a daily income for every day of trading you miss due to having to attend court because you’ve been selected for jury service.
- Financial loss for customers: this cover can provide compensation for any losses or expenses your customer might suffer while they wait for their heating or ventilation system to be repaired.
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