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It’s been said that you’ll never be out of work as a plasterer. Provided you do a good job and generate good word of mouth, you might never run out of walls to work on.
However, you might find yourself up against it if an accident or injury saddles you with unaffordable legal or compensation costs, or if someone steals your van or equipment and you’re unable to afford replacements.
That’s why you should consider a solid plasterers’ insurance policy, which can cover some or all of the above, and more.
On this page, we’ll explain exactly what types of cover should be considered in a plasterers’ insurance policy, why it might be important for you and how to find the right policy for your needs.
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What is plasterers’ insurance?
Plasterers’ insurance is not one specific insurance policy but a package of insurance policies.
This cover can provide financial protection for your business against accidents and injuries involving you, your employees, your clients, and members of the public. It can also compensate you for lost, damaged or stolen tools and equipment, or act as a safety net in the event that you are forced to stop work due to an incident outside your control.
Public liability insurance is usually the first layer of a plasterers’ insurance policy. It provides financial protection if a member of the public is injured or killed – or their property is damaged, lost or stolen – as a result of your business activities. For example, if a client tripped over your rendering machine or if your employee damaged several new tiles with their trowel.
Bear in mind that if you undertake any other project outside your plastering activities, you may need to take on additional public liability insurance to ensure you are fully covered – if you also offer painting or plumbing services, for example.
You could also protect yourself from the consequences of an injury with personal accident insurance, which can provide financial support if you’re unable to work or offer financial help to your beneficiaries in the event of your accidental death. Personal accident insurance could provide financial support to cover some lost income or medical costs, for instance, if you were to fall from a ladder and couldn’t work for a few weeks.
After protecting yourself, members of the public and their property, your tools are among your most important assets, so you should consider whether you want to include tools insurance in your package. This can provide compensation if your tools are lost, damaged or stolen, whether on site or at your business premises. Some providers may offer separate cover for tools or equipment stored in a vehicle overnight – for this, you may need to add tools overnight cover.
Contract works insurance could be another product to consider. This is a type of insurance which would kick in if your plastering work is interrupted or even destroyed. For example, if a fire or flood were to delay completion of a job indefinitely or force you to restart work, contract works insurance could provide financial compensation to help you get back on track.
You may want to take out legal expenses insurance, which not only helps protect against claims against you for property damage but also for disputes – for example, over tax or with employees.
Lastly, if you drive a van containing materials and equipment to your jobs, you’ll need to keep it safe with van insurance. Plasterers’ insurance providers don’t tend to offer this as standard, so it’s likely you’ll have to take out a separate business car or van insurance policy.
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Do I need plasterers’ insurance?
If you employ anyone based in the UK and outside your immediate family, you are legally required to have employers’ liability insurance to protect you in the event that they are injured or their property is damaged while working for you. You can be fined up to £2,500 a day for not having employers’ liability insurance in place.
Other than that, there is no legal requirement for plasterers to have insurance but, as the costs of a legal claim against your business or of replacing equipment could be ruinous, you should consider whether it’s worth taking out a comprehensive policy.
» MORE: What is business liability insurance?
What is usually included in plasterers’ insurance?
Plasterers’ insurance often includes:
- public liability insurance
- employers’ liability insurance
- personal accident insurance
- tools insurance
- contract works insurance
- legal expenses cover
What isn’t usually included in plasterers’ insurance?
If you offer other services, such as painting and decorating, carpentry, or plumbing, your plasterers’ insurance policy is unlikely to cover you for these activities. If so, you’ll likely require additional cover or a separate policy to ensure you are adequately protected.
Vehicle insurance is also usually not included in plasterers’ insurance packages, and so you will need to consider this. For example, if you drive a van for work or to transport tools and materials, you should consider van insurance to protect you against damage or theft.
» MORE: What is business interruption insurance?
How much does plasterers’ insurance cost?
The cost of your plasterers’ insurance policy will be decided by your specific circumstances and requirements.
For example, you may decide that the nature of your work and the level of risk you’re exposed to only requires a coverage limit of £1 million in public liability, and that you only need £1,000 cover for your tools. This is likely to be a cheaper monthly premium than it might cost a plasterer who needs £5 million in public liability and £5,000 in tool cover.
» MORE: The cost of business insurance
Plasterers’ Insurance FAQs
If you employ any staff in the UK who are not family members, you are legally required to have employer’s liability insurance of at least £5 million.
In addition to this, although not legally required, you may wish to consider an insurance policy that includes public liability, personal accident, tools and equipment, contract works, and van insurance depending on your specific business needs.
Do plasterers need public liability insurance?
Public liability insurance can be worth considering as part of your plasterers’ insurance policy as it provides financial protection in the event that your business activities cause injury, death, or damage to a third party’s property, whether that third party is your client or not.
So, for example, if you knock over a bucket of plaster on to a client’s carpet, it can cover the cost of a replacement. Whilst you are not required to have this insurance. It can make sense for many people as the costs of a claim could be large and unaffordable if they were required to pay it themselves.
Employers’ liability insurance provides financial cover if anyone you employ – whether another plasterer or otherwise – is injured, or if their property is damaged or lost as a result of working for you. Policies can cover the cost of compensation to employees, as well as the associated legal costs.
If you drive to work, along with materials and tools, the most suitable type of vehicle cover is likely to be business car insurance or van insurance. These can provide financial support in the event that your business vehicle is stolen or damaged.
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