What Insurance Does A Metal Worker Need?

Metalworking is a job that requires skill, precision and patience. We for one, certainly wouldn’t be in the best placed position to intricately carve pieces of metal or work on large scale projects. So why should you as a metalworker have to waste your time figuring out what insurance cover you require?

That’s why we’ve stuck to our strengths and produced this blog. Our guide to what insurance you as a metalworker need.

Why Do You Need Special Cover?

As metalwork is quite a high risk industry, you may often find that regular business insurance policies won’t cover certain aspects of your business. When you’re working in a dangerous environment, this simply won’t cut it and you need to be able to rest easy knowing that your policy protects you when you need it most.

Metalworker cover is however, still similar to a business insurance policy. As you’re able to pick certain aspects of the cover which suit your business’ needs and ensure you don’t pay for more than you need. We’ve highlighted what we believe to be some of the most useful covers below, to help you build your metal workers policy. Of course, if you’d rather speak to us about your requirements you can call us on 0191 3400 031 or email us by clicking here.

Machinery Breakdown

As such a key component of your everyday job, your machinery is vital to your productivity and business output. If something was to happen to your pillar drill or your CNC machine, with machinery breakdown cover you should be able to rely on your insurance cover to cover the cost of repair or replacement.

This great piece of cover can even protect machines that are damaged by natural disasters such as flooding, meaning you can truly rest easy. So whether your machinery is cutting, folding or bending, with machinery breakdown your production line can stay intact and your income can continue to come through the door.

Warehouse Building Cover

Only relevant if you own the building you’re working in, warehouse cover protects you from the costs of rebuilding or repairing your building in case it is damaged. Say, for example, a fire occurred and destroyed your warehouse, you would be covered against the cost of the rebuild or repair.

Be warned, it’s vital you have provided accurate valuations of your building to your insurance broker as you can be opened up to the risk of underinsurance. If you provide a cost below the actual value of your property, the insurer could only pay out to that amount, leaving you potentially out of pocket during a time which will be stressful enough.

Liability

Liability is a vital policy for most businesses and metalwork is no exception to the rule. There are three main aspects of liability insurance which you need to consider.

First of these is public liability. Public liability is there to protect you against claims raised by the public due to damage caused by your business. So, for example, if a member of the public hurt themselves on your premises and submitted a claim against you for the damages, your public liability cover should protect you against the costs.

Secondly is products liability. This again protects you against claims raised by members of the public, however this is when claims are bought against you due to damage caused by your products or services. So if a piece of metalwork you supplied breaks and injures someone, this policy should protect against claims made towards you.

Thirdly is employer’s liability. This is a legal requirement if you have any employees at all, as it protects them if they fall ill or get injured due to the working conditions you provide.

Business Interruption

A brilliant policy to include in any business insurance cover, though for metalworkers this is a must have extra. If you are prevented from completing work due to a break in or accident closing your facility, business interruption cover will ensure you don’t lose out on income whilst closed. If this is your main source of income, this cover can be crucial when you need it most.

Speak To An Independent Broker

Of course, your own metalwork business may have extremely different needs to that of a metalwork business down the road. To ensure you get the best policy for your fit, you should speak to an independent broker. Independent brokers can scour their markets to find a policy that works for you, for a cost that suits your income.

Contact Coversure Newcastle Today

So, we hope the blog above has been of assistance to you. Though, if you want any further advice or even a no-obligation metalwork insurance quote then please get in touch with Coversure Newcastle today. You can call us on 0191 3400 031 or email us on newcastle@coversure.co.uk.