One of the basic types of insurance carpenters need to consider is Public Liability insurance. It provides cover for legal fees and compensation costs if a customer, member of the public or supplier sues you for injury or damage to their property as a result of your alleged negligent business activity.

Public Liability insurance for carpenters may be a requirement before you step foot on site and one of the fundamental types of cover you may need as a self-employed carpenter.

What is typically included?

Compensation for:

• personal injury suffered by a third party (e.g. a customer, supplier or member of the public)
• damage to property owned by a third party due to your negligent business activities
• legal and defence costs associated with a covered claim

What is typically not covered?

• Injuries to your employees
• Damage to your own property
• Costs of rectifying faulty workmanship
• Professional negligence
• Contractual liability
• Events occurring before or after the policy period

Business Insurance is a package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and loss of revenue due to business interruption in specified circumstances. In addition, cover is available for public liability, tax audit, employment practices liability and statutory liability risks.

Your tools help you get the job done every day and that’s why protecting your most valuable business assets is something to consider as part of your insurance plan. Portable equipment insurance* can cover you for loss and damage to items of portable equipment associated with your business. These can include tools of trade and items of stock.

Your carpentry tools and other business assets help you get the job done, so consider protecting them with coverage options like Portable Equipment and Contents.

Take a moment to consider the impact to your business if you were to have an accident or fall ill. You are your company’s most important asset so it makes sense to have protection in place. Personal Accident and Illness insurance can provide levels of cover for loss of income if you are unable to work, suffer permanent disablement and even death as a result of an unexpected injury or illness (even if it occurs outside of your employment).

As a self-employed carpenter you rely on being physically fit to run your business, so if accident or illness were to strike you need to think of Plan B to help protect your finances while you recover.

When you’re providing professional advice and services on all things carpentry you may need to consider Professional Indemnity insurance to protect your business if things don’t go to plan.

Giving your expert advice on all things carpentry to your clients could lead to potential claims if things don’t go exactly to plan and an accidental error occurs.

Professional Indemnity insurance protects you against losses claimed by a third party due to alleged or actual negligence or errors in your professional services or advice. Your Professional Indemnity (PI) insurance may cover compensation payable to a third party together with some of your defence costs (which can include legal costs, investigator costs and expert fees), subject to the terms and conditions of your policy.

What’s typically included?

Depending on the Professional Indemnity policy selected, your policy could cover:

• Payment of compensation
• An award of legal costs against you
• Reasonable legal costs incurred in defending or responding to the claim
• Claim investigation costs
• Disciplinary proceeding costs

What is typically not covered?

• Intentional damage
• Contractual liabilities
• Professional fees
• Known claims and circumstances
• Fraud and dishonesty

If part of your carpentry business is selling products to the public then you may need to consider Product Liability insurance. It protects your business against claims by third parties relating to property damage or personal injury caused by your products. If your carpentry business starts selling products, you may need Product Liability insurance to protect from claims from third parties for property damage or injury.