<iframe src="https://www.googletagmanager.com/ns.html?id=GTM-WCK3FXN" height="0" width="0" style="display:none;visibility:hidden" title="gtm-frame"></iframe>How much is insurance for a carpenter? | Trade Direct Insurance
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How much is insurance for a carpenter?

As a carpenter, you want to be sure you have the correct insurance, but you also want to make sure you keep overheads as low as possible.  

If you have been getting insurance quotes, you may find prices vary or that you have the option to select different types of cover. So, it can help to understand how much you expect to pay.  

What is included in my quote?  

Not every quote will include the same types of insurance cover or the same levels of cover, which means it can be difficult to make accurate comparisons.  

If you’re in any doubt, ask the provider to explain exactly what’s included and how much cover is provided.  

What should be included in my insurance cover?  

This will vary from one carpenter to another but there are certain ‘types’ of insurance you should always consider. These include:  

  • Employers’ liability insurance if you employ anyone (including apprentices and trainees) of at least £5 million.  
  • Public liability insurance between £2 million and £10 million (the exact amount you need may vary.)  
  • Insurance for your tools, normally between £1,000 and £15,000. 
  • In some circumstances, professional indemnity insurance starting from about £50,000 of cover.  

What factors affect my premium?  

The first is which of these types of insurance you decide you need, and what levels of cover you go for.  

Another factor is how your business is set up, and how many employees you have. If you are a sole trader with no employees, your insurance will cost less than if you are a limited company with five employees.  

The type of work you do will also be considered. For example, if you take on small, domestic projects, your insurance is likely to cost less than if you work on large, high value projects.  

Finally, where you work may also have an impact. For example, if you are working in a city area that has a high crime rate, your insurance may cost more than if you work in a sleepy countryside village.  

So how much will it cost?  

The cost of your insurance will vary depending on your circumstances. However, a policy can often costs less than you think. Cover for a sole trader may start from as little as £60 per month.  

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