Insuring your contractor business
If you work as a contractor you’ll know every job brings its own set of challenges. Demanding clients and working under pressure to tight deadlines are just some of the things you deal with every day. But there are things that could derail you – broken equipment, illness or accidents that you just can’t see coming. That’s why it’s important to take out the right business cover to protect yourself. We have experience of providing contractors with specific insurance options designed with your small business in mind. For example, our public liability and professional indemnity insurance for contractors can protect against injury, damage or the cost of settling or defending a client’s claim. Hiscox will tailor an industry-specific contractor insurance package for you, so you’re prepared for all risks.
Why you need business insurance as a contractor
Accidents and injuries
Working as a contractor can mean meeting new people and working in new places, which leaves you open to a certain level of risk. All it takes is a client tripping on one of your tools or a loose wire in your office for them to bring a claim against you. If it happens, we’ll cover the costs involved in dealing with the claim.
It’s likely that your line of work requires expensive equipment and it’s just as likely you’ll be using it in various locations, making it more vulnerable to damage and theft. If something happens to the tools of your trade, you could be left dealing with delays and angry clients until you’re able to get up and running again. We’ll cover the cost of repairs or replacements so you’re able to get back to what you do best.
Loss of earnings
Contracting can mean high day rates, but there’s little in the way of a safety net when you can’t work. If you’re injured on a construction site, or you’re involved in a car accident, then on top of the distressing incident itself, you’re left with missed business while you’re out of action. Hiscox will help with expenses so you’re able to recover without the added stress of financial losses.
If you’re not sure what you need, tell us a little more about your contracting business. We’ll build your quote and we’ll help you explore any other insurance needs.Build my cover
Key types of insurance for contractors
These are just some of the types of business insurance for contractors that we can offer. We can provide other specific types of cover and build them into a policy that’s tailored to the risks and needs of your business.Get your quote
What is IR35 and what does it mean for contractors?
If you currently work as a contractor, are considering becoming a contractor or own a business that hires contractors, IR35 is something that you should be familiar with.
Becoming a contractor - the step by step guide
We discuss what it takes to become a contractor. All that planning and preparation at the start will quickly put you in a good position to reap the rewards in the long run, so keep track of your steps.