What is monumental masonry insurance?
If you work directly with monuments and headstones, you already appreciate the importance of preventing damage to the materials and masonry you handle. Therefore, it’s important you are properly insured in case something does go wrong.
What is monumental masonry insurance?
There is no single definition of what ‘monumental masonry insurance’ is. It is likely to mean slightly different things depending on the insurer. For that reason, it’s always important to check what is covered.
As a general rule of thumb, it might include:
- public liability insurance
- employers’ liability insurance
- insurance for your tools
- professional indemnity insurance
It may also include personal accident cover and other types of insurance, or you may be able to pick and choose the additional cover you want included in your policy.
What is public liability insurance?
Public liability insurance is designed to safeguard you if something your business does (or fails to do) causes injury to a third party or damages their property, e.g. working on a large monument which dislodges and injures a passer-by or damages other monuments.
What is employers’ liability insurance?
You are legally required to have employers’ liability insurance if you employ anyone, including trainees, part-timers, or clerical staff.
Employers’ liability protects you should an employee suffer an injury or illness while working for you. If you don’t have employers’ liability insurance when you should, you can be fined up to £2,500 for every day you are uninsured.
What is professional indemnity insurance?
Professional indemnity insurance covers you if you provide professional advice as part of your work, e.g. about design or specifications. If this advice turns out to be negligent and causes the client a financial loss, your insurance will cover the costs if they sue you.
Do I really need to insure my tools?
If your tools are lost or stolen, you need to replace them and get back to work as soon as possible. Tools insurance enables you to act quickly, so any job you are currently working on can still be finished in time and according to your agreed contract.
How much does monumental masonry insurance cost?
This will depend on which insurance policies you choose and whether you want any extra cover. It will also depend on:
- how your business is set up
- the sorts of projects you work on
- how many employees you have
- whether you have made any previous claims.