Archive for December, 2014

The Vital Insurance You Need When Building Your Own Home

Building your own house comes with all manner of financial considerations. Hidden costs can hit at any time and knock you off budget. Building costs are astronomical, not to mention any loss of earning while overseeing the project. There are also insurance costs to consider. Building a house requires a little more than a simple home insurance policy. There is a lot of danger on a building site and plenty of eventualities to cover.

When building a house, you are responsible for everything that happens on site. You are responsible for the health and safety of builders and contractors. You’re responsible for any member of the public who wanders onto your property and injures themselves. A personal injury lawsuit is the last thing you want on top of your budget. This list covers some of the essential insurance you’ll need. It includes some you may not have considered.

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Site Insurance

This is the most important one. Depending on the policy, it should cover your building site and everything on it. It covers your new building against fire, damage and flooding. It also covers any temporary structures on the site. This could be a caravan you’re living in or a workman’s portacabin. They typically cover theft but take a note of how much the coverage extends to. In some cases you may need to consider separate equipment insurance.

Equipment Insurance

Site insurance will usually cover theft of equipment and tools up to a certain cost. However, the equipment stored on a building site can register well into the thousands. Theft of these vital tools and equipment can stop your build in its tracks. It will set you back time and money to replace them. A separate equipment insurance policy can help ease this difficulty. You will be required to prove the security of your building site. It is also good practice to mark all equipment with an identification pen.

Vacant Building Insurance

Once the shell of the building is up, home and building insurance doesn’t always cover any damage. If your structure is lying vacant during the build, you may need vacant building insurance. This will cover you against vandalism and the problems related to vacant buildings. This one is often overlooked and builders can come unstuck. It’s worth looking into.

Health Insurance

When building a house, many plan to get seriously involved. Helping out with the build itself can eliminate costs. You can cut down on private contractors and expensive outsourcing. However, it comes with its own difficulties. You are risking your health and safety by getting stuck in on the building site. This is particularly true if you aren’t experienced. Check your current health and life insurance policy and make sure you are covered for this work. If not, you should add extra provisions to your current policy.

Insurance is a vital part of building your own home. Before you even start building, you should shop around for quotes. Get the best possible deals and build them into your budget well ahead of time. As we are all aware, self builds rarely stay within budget, so overestimate. Making sure you are effectively covered will eliminate surprise costs down the line.

Starting A Roofing Company? This Is Everything You Need To Know About Protecting Your Team

Starting a new company in any industry requires a lot of research. If you don’t have appropriate cover for your team, you might go out of business very quickly. Also, it’s vital that you learn about standard regulations. Asking people to perform tasks that are overly dangerous could land you in hot water if complaints are made. At the end of the day, you must value your workers, which often means spending a considerable sum of money. Today, you will learn about the best ways to protect your team when starting a roofing company. Failing to follow our advice could mean your dreams are crushed before they even get started.

Public liability insurance

All tradespeople must have public liability insurance. A decent policy will pay out if you ever cause damage to a client’s property while performing your job. That is especially crucial in the roofing trade where accidents are commonplace. You should search online and use price comparison websites for the best deals. However, it’s vital that you always read the small print to ensure you understand the policy you’re purchasing.

Non-negligence insurance

While you might think public liability insurance would be enough, you are wrong. That type of cover only pays out when you cause damage to the property your team are working on. If you accidentally do the same to a neighbouring home, you will be liable to cover the costs. For that reason, you need non negligent damage insurance. A decent policy will make sure your company is looked after regardless of which house you might damage.

Appropriate training

You are no doubt starting this company with a view to making high profits and perhaps even paying your mortgage off early. So, the last thing you want is workers who do not understand the best methods of performing their duties. With that in mind, you should always provide training for everyone, no matter how experienced they might be. Handling that process in-house is the cheapest option, but you’ll want to employ the services of a specialist firm for the best results. Just search online, and you will find hundreds of training providers in your home country.

Buying the best equipment

Asking your team to undertake roofing projects with poor equipment is a recipe for disaster. You should always speak to your workers before they start every job to see if there is anything they need. While you might have to make a small investment to get the products, doing so will significantly limit the chances of anything going wrong. If you’re on a very tight budget, you might like to consider using online auction websites. However, specialist trade stores are usually quite cheap.

Having read through everything you need to know about protecting your team when starting a roofing business, you should be in the best position to get things right. When all’s said and done, the last thing you want is for a member of your staff to effectively close your company down due to their negligence. So, get the cover you need immediately!

14282642288_f9cda1ed17_zSam Beebe