Why do you need specific gas engineer insurance?

Gas engineer insurance is a vital part of ensuring that your business is set up properly and is fully compliant.

What is gas engineer insurance?

‘Gas engineer insurance’ is a general term insurance providers use to cover a selection of insurance products. What is included may vary depending on what you require and the insurer you choose.

The key insurance products on offer will likely include:

• public liability
• product liability
• professional indemnity cover
• employers’ liability insurance

You should also make sure your tools, equipment, and van are covered, as well as your business premises, or the premises at which you are working.

Is gas engineer insurance a legal requirement?

If you employ anyone, even on a part-time basis, you are legally required to have employer’s liability insurance. This protects you in the event a current or former employee sues you for an illness or injury sustained while working for you.

You may also need employers’ liability cover for some contractors you work with. Always check with your insurer, even if you think your contractors are ‘self-employed’.

You are not legally required to have public liability, product liability or professional indemnity insurance. However, as you will see below, it is still important to have them.

Is gas engineer insurance a contractual requirement?

Often, larger contracts and clients might require you to have public and product liability insurance, and possibly professional indemnity insurance, as part of the terms for working with them.

If you don’t have the right cover, you face not winning important contracts or being in breach of contract. If you are in breach of contract, the client may end the contract or even sue you. Either way, it can potentially result in damage to your professional reputation.

Is insurance a professional requirement?

In some cases, your professional body or trade association might require you to have insurance before you can join. Not having membership can also negatively affect your professional standing.

Is it worth having insurance?

If something goes wrong, your insurance could save your business.

Claims for injury or damage can amount to thousands or tens of thousands of pounds. For example, if someone breaks an ankle tripping over your equipment, they could claim for the injury, lost earnings, expenses, and legal costs.

You should also factor in your time and costs spent dealing with the claim and paying for legal representation.

If you can’t pay the damages, compensation, and costs ordered by the courts, your cash flow and business will be at risk, as well as any assets you own.