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01827 313 931
What is Contractors Combined Insurance?
Contractors Combined Insurance is a flexible multi-section insurance policy which, at its simplest can cover your Liabilities (Employers, Public and Products) and your Assets (Buildings, Contents and Plant) with a single premium and renewal date, reducing administration and thereby saving you money.
So what type of businesses can buy Contractors Combined insurance?
Pretty much every type of contracting business could buy this type of insurance.
Whether they should buy Contractors Combined insurance is a separate question! That’s our job, as your broker, to evaluate all the options for you. This type of insurance is traditionally purchased by trades such as builders, scaffolders, electricians, cladding contractors, bricklayers, groundworkers, property developers and all the other types of trades in-between.
What does a Contractors Combined Insurance policy actually cover?
A contractors combined insurance policy covers Public Liability (in case a member of the public gets hurt on site by falling down a hole for example), Employers Liability (as required by law, in case an employee or a labour-only sub-contractor gets hurt whilst working for you) and Products Liability (in case something you’ve sold hurts someone or causes damage to their property).
Loss or Damage to Hired-in and Own Plant (including tools) can be covered too, as can loss/damage to Contract Works and materials on site as well as anything happening at your base premises.
How much does Contractors Combined insurance cost?
How much Contractors Combined Insurance costs varies as it depends on so many factors,
such as where you are based, what your business does and what size it is. We have clients paying us premiums in the range of £250 to £100,000 per annum.
Have a question?
Our team is
here to help!
One of our team will talk to you about your current circumstances in order to advise the best way forward. If you’d prefer to visit us at our offices in Tamworth, feel free to pop in! Just check our office hours on Google to make sure we’re open.
Yes they are. Different legislation applies between the Tax Office and Health and Safety, and as far as insurance is concerned, if a sub contractor is providing labour only and is working for you, then YOU are responsible for his health and safety on site, and if he gets hurt, it’s YOUR Employers Liability insurance which will pick up any claim.
Smaller contractors can buy a Per Capita Tradesman policy, but, if your employee/sub-contractor numbers can often vary, then our advice is to buy a wage-roll/turnover type policy. The reason for this suggestion is quite simply because, if your Tradesman policy is based on 5 employees and someone gets hurt when you’ve got 10 guys working for you, the insurance company is legally entitled to throw the claim out. Whereas on a wage-roll/turnover policy, the insurance company can’t do that.
Should you need to make a claim, make Prizm Solutions your first port of call. As your broker, we are here to help. If your call is out of hours, all insurers operate 24/7 claims lines, and we’ll inform you of these when you take out the policy.
At Prizm, we primarily deal with Aviva, AXA, NIG, Royal Sun Alliance, Jensten, QBE, MI Commercial, Zurich, Allianz, Victor, NBS, Touchstone, Breeze, Commercial Express, Ensurance, Focus, DUAL, HCC, HSB, Yutree, Phoenix, Corin, Markel, Arch and Lloyds underwriters although the companies offering this insurance may change as the market changes.
If you need to make a claim on your insurance, you need to call your insurance broker or insurance company straight away.
If you have a policy with Prizm Solutions, then you simply call us.
As your broker, we are here to help – and we will provide you with all the contact numbers you need to deal with a claim when you take out the policy.
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Prizm Solutions Limited
First Floor
The White House
16/20 Church Street
Tamworth
B79 7DH
Prizm Solutions Ltd are authorised and regulated by the Financial Conduct Authority.
Prizm Solutions Ltd are registered in England and Wales, Registration Number: 05936749, Registered Address: First Floor, The White House, 16/20 Church Street, Tamworth, B79 7DH.
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We’re here to assist you to put plans in place, to help provide you with some protection from those unexpected curveballs that can be a normal aspect of everyday life!
So, let us help you find the right cover for you.
01827 313 931
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