Welding as a profession comes with a variety of risks and hazards. Making the right choice for your welders insurance is essential to protect you, your employees, and your business. By choosing Bruce Burke as your insurance broker, you are choosing a team that understand your industry, the risks of your industry and the level of cover you need from your insurance.
Understanding the needs of welders
Many welding contractors have two sides to their work which can be split into working on site and fabrication in their own workshop.
Each of these are viewed differently in terms of hazards by insurers and taking proactive steps to minimise your risk is an essential part of reducing claims and keeping premiums down.
In most circumstances the majority of the work undertaken is in their own premises where the policyholder is familiar with his surroundings and can be prepared for most eventualities with physical protection and training. Working off-premises is normally more difficult and each site may present different its own unique set of risks and challenges. Its not practical to agree a different policy for each site so its important that there are acceptable terms and conditions to a welders insurance policy which will allow you to work freely on site while at the same time adhering to policy conditions in place which have been agreed at inception of the policy.
The core covers for welders are: –
This is also known as third party liability as it covers you against being sued by third parties for damage to property or injury to person caused by yours or your employee’s actions. Indemnity limits are usually between £2 million and £10 million.
Employers’ liability
This is a compulsory insurance for any company that has employees or uses labour only sub-contractors. It provides financial protection from being sued by an employee injured at work as a result of the employer’s failure to provide a safe place. The indemnity limit is usually £10 million.
Optional Extras
Goods in Transit
Whether you are carrying your own good or other peoples, these are assets that have value. If these assets are damaged or stolen then you could be faced with the need to replace these at short notice, which can potentially involve large costs. This is where Goods in Transit insurance can protect you.
Workshop Insurance
Our workshop insurance can protect a range of tools and equipment, as well as stock and work in progress, against loss or damage from theft, fire, storm, flood, water damage and malicious). Cover will be tailored to meet your specific business needs. If you own your workshop building, then this can also be covered under the same policy.
Legal Expenses Insurance
This covers the cost of defending legal claims that could be made against you or your business. It can cover solicitors’ fees, the cost of barristers and expert witnesses, court costs and claimants’ awards in civil cases.
D&O Insurance
Directors’ and officers’ insurance protects you against the risk of not being able to defend yourself against disqualification from holding the position of director. civil proceedings which can lead to hefty legal costs and awards for damages.
