18-04-2008
Neglecting builders insurance could affect job status
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Tradesmen who do not have the correct builders insurance could be turned away from potential work in favour of rival contractors, according to an industry expert.
Neglecting to take out builders insurance could mean that the homeowner or business is liable to pay excess if the project overruns or increases in costs for reasons beyond their control, Nigel Beswick stated.
As a result, property owners may opt to choose other tradesmen who do have builder insurance and tools insurance instead, Mr Beswick, founder of homepromatch.com, said.
It is also unlikely that these tradesmen have a good working reputation, he inferred.
He added: "Sadly there are many stories of disreputable builders and tradesmen tarnishing the good reputation of the many thousands of great home improvement builders operating in the marketplace."