How much does gas engineer insurance cost?
Gas engineer insurance is a vital part of your business operations, both in terms of general compliance and protecting your business in the event something goes wrong.
What does gas engineer insurance cover?
‘Gas engineer insurance’ is a broad term used by insurance providers to cover a selection of products suited to your trade.
You may find different insurers offer slightly different policies. However, the core set of gas engineer insurance products will usually include:
- public liability insurance
- product liability insurance
- employers’ liability insurance
- professional indemnity insurance
There are other options that may be included, such as:
- tools and van cover
- personal accident insurance
- insurance for commercial premises
This is not an exhaustive list. You should always check first to see what is included in any quote you receive.
Must I have gas engineer insurance?
If you employ anyone (even on a part-time basis, and possibly some contractors), you are legally required to have employers’ liability insurance.
Depending on the project, you may also find that you are contractually required to have public liability, product liability, and professional indemnity insurance.
Even if you are not contractually or legally required to have insurance, it is highly recommended that you consider your business’ insurance requirements. Without it, your business could be at risk.
What factors are considered when calculating insurance premiums?
There are a several considerations, which include:
- The level of cover required
- Whether you operate as a limited company, partnership (or limited partnership) or sole trader
- Whether you have any employees and, if so, the number you employ
- The nature of the work you do and the size and value of the projects you undertake
- The type of machinery or equipment you work with
- Your claims history
- The combination of insurance products you choose
How much will gas engineer insurance cost?
It will depend on your business’ specific circumstances. Your insurance provider will consider all the above factors before providing you with a quote. However, be wary of unexpectedly cheap quotes – these may not provide all the protections you need.