Whether you're a skilled plumber, an electrician with a knack for fixing things, or a carpenter who can transform a simple piece of wood into a work of art, one thing's for sure - you've got the skills to pay the bills. But what about the unexpected curveballs life throws your way? That's where the unsung hero of your business comes in - trade insurance.
In this blog post, we'll explore various examples of how tradesmen and women can find success with the right policies. We'll explore how these tales prove that trade insurance isn't just a necessary evil but a game-changer that can make or break your business!
Emma's Plumbing Resurgence
Meet Emma, a seasoned plumber based in Manchester who faced a major setback that could have spelled disaster for her business. One day, a burst pipe in a client's home led to extensive water damage. The repair costs were sky-high, and without the proper insurance, Emma could have been facing bankruptcy.
However, Emma was no stranger to the value of comprehensive insurance coverage. Thanks to her foresight in securing a public liability insurance policy that covered property damage and liability, she was able to weather the storm. The insurance not only paid for the repairs but also covered legal fees in case the homeowner considered legal action against her business.
What could have been a business-ending catastrophe became an opportunity for Emma to showcase her professionalism and dedication. The insurance payout not only saved her trade business but also reinforced her reputation as a reliable and responsible tradesperson. Today, Emma's plumbing business is thriving and going from strength to strength, all thanks to her holding a comprehensive insurance policy that had her back when she needed it the most.
With Rhino Trade Insurance, you can cover your business like Emma; we offer:
Mike's Carpentry Comeback
Mike, a carpenter from London, faced a devastating fire that razed his worksite to the ground. The fire not only destroyed his tools and materials but also left him in big trouble as the project manager. Mike's initial shock and despair turned into determination when he remembered he had the right insurance coverage in place.
His insurance policy covered fire, property damage, and the replacement cost of his valued tools. This meant Mike could cover the costs of the site and replace his tools - on top, he could even cover the lost income during the time his business was disrupted. With the financial support from his trade insurance policy, Mike not only got back on his feet but finished the job to a high standard!
Mike's story is a testament to the resilience that the right insurance coverage can provide. Instead of being defeated by the fire, he emerged stronger, and his clients appreciated his dedication to quality, and Mike's carpentry business flourished like never before.
With Rhino Trade Insurance, you can get covered just like Mike with our contractors' all risks insurance, which covers you for so much, including fire, theft, flood and vandalism. On top, you can insure your tools up to the value of £7,500 with tool insurance.
Tom's Electric Triumph
Tom, an electrician in Birmingham, experienced a shock when a client's faulty wiring led to a serious electrical accident. Fortunately, the client was unharmed, but the incident could have led to a costly legal pursuit and severe damage to Tom's reputation.
Having the right insurance, specifically professional indemnity insurance proved to be Tom's saving grace. The policy covered legal fees, settlements, legal defence and court judgments associated with professional negligence claims. Tom's insurance not only protected his finances but also shielded his professional standing.
Instead of tarnishing his reputation, Tom used the incident as an opportunity to educate clients about the importance of proper electrical maintenance. He implemented new safety protocols in his work and became a vocal advocate for electrical safety. As a result, Tom not only retained his existing clients but also gained new ones who valued his commitment to safety.
Adding professional indemnity cover to your Rhino Trade Insurance policy is easy and takes seconds. To ensure you have legal defence and compensation coverage, you can take out affordable cover with limits starting at £100k and increase this to £2 million if needed. Find out all you need to know about professional indemnity here.
Stan's Decade of Durable Drywalling
Stan, a young drywaller from Leeds, has built a thriving business over the years. His secret to success? Besides his unmatched skills, Stan attributes his success in the trade to having the right insurance coverage from the very beginning.
Stan's commitment to safety and responsible business practices has paid off - especially when one of his workers made a claim for injury on the job due to a malfunctioning piece of equipment. Stan's worker required medical attention, and the incident raised concerns about potential long-term consequences.
As a result of Stan holding employers liability insurance, when a compensation claim for medical expenses and lost wages was filed, his insurance policy kicked in. It covered the employee's medical bills and provided financial support during his recovery period.
With Rhino, you can choose to cover your business with employers' liability insurance up to £10 million! If you have any employees working for your trade business, then this cover is legally required. Need quality cover today? Give our lovely team a call and get set up in minutes - 0116 243 7904.
These examples above underscore the importance of having the right insurance coverage for your trade. Whether you're a novice or a seasoned professional, ensuring that you're adequately covered can be the key to turning challenges into opportunities. Here are a few essential tips to guide you in choosing the right insurance for your trade:
Remember, trade insurance is not just a safety net for the worst-case scenario; it's a proactive measure that can enhance your business resilience and contribute to long-term success. So, take inspiration from these example stories above and make sure you're armed with the right insurance as you navigate the rewarding yet unpredictable world of trades.
Give our five-star team a call on 0116 243 7904 for a fully customised policy, or head over to our website to find everything you need for your trade business. If you aren't sure, we have a fully stocked blog which explains various policies along with other helpful articles. Anything you need, we are here.
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