Potential risks in plasterers business
Here are some of the potential risks that require an insurance policy specifically designed for plasterers:
Third party injuries
You can place plastering tools and equipments on a safe place, but it is impossible to make them obvious to people including your client who may come frequently to inspect your job. Tripping on the tools or falls on a slippery floor is possible resulting in deep cuts, fractures and other injuries. You may be required to foot huge medical bills, legal fees and compensation for bodily harm caused.
Personal sickness
A sickness or an accident may keep you out of business for several weeks, months or forever. This cuts your income flow, leaving you without a stable livelihood. For example, if you get involved in an accident that causes fractured limbs or spine, you may have to wait for several months or years before you resume duty.
Employees’ accidental falls
If an employee slips on the floor and fall incurring bruises, you can afford the medical bills and probably a day off. However, the worst can happen if an employee falls from a tall building while plastering the walls getting serious injuries. This could lead to permanent disability or death in some cases. Medical bill, legal fees and compensation is likely to be too high resulting in the closure of your business and loss of personal assets.
Botched plastering project
Your business as a plasterer involves both functional and decorative skills. As you may have noticed by now, you work with people with different tastes and communication skills. A case may arise whereby a client may provide erroneous instructions such that the end product is not what they were expecting. On the other hand, a mistake made by employees may make your client to be dissatisfied. This may result in compensation claims for wasted time, materials and inconveniences caused.
What to include in liability policy for plasterers
The following plasterers’ insurance policies are vital for the safety of your business:
Employees’ compensation
When running a plastering company with several employees, you definitely require this policy. It covers medical bills, legal fees and compensation for employees who get injured or die while on duty.
Public liability
Damages, sicknesses, injuries and accidents attributed to your plastering business by innocent bystanders near the site or other third party are covered under this policy.
Tools and equipment insurance
If your scaffold, ladder and other plastering tools and equipment are stolen or damaged, this policy provides compensation.
Personal accident and sickness
This plasterers insurance policy protects your income if you are involved in an accident or get sick.
