As a contractor you will be familiar with the requirements of having to work for yourself. This leaves you vulnerable as you are dealing with clients and their specific needs. You may be a building contractor, a plumbing contractor or even an engineering contractor whatever you do you need to protect your business.
Your customers will rely on you to use your knowledge, expertise and experience in order to work efficiently. However, this means that you are exposed to a number of risks that can lead to customers submitting claims against your business. These claims can be linked to bad workmanship, incorrect advice and negligence but fighting them can be extremely expensive. Paying compensation and defence costs regardless of the outcome of the claim could prove damaging for your business so you need to ensure you are protected.
Business insurance will become an important tool for your business because it will give you the cover you need to protect your business. You may have a vast amount of experience and you may never have had a claim submitted against you but remember that it is possible in the future. You could leave out a crucial piece of advice and stress of impending deadlines could cause you to drop your working standards. When you make a mistake you need to be sure that the protection is there for you because it can make a huge difference to your business and your future.