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Hot Risk Liability Insurance........

Whether you call yourself a 'blacksmith', 'mobile welder' or 'welder fabricator', we all need 'hot work' liability insurance cover.

I am often asked about 'how to find welders insurance', so the following are real emails that I have sent out to my website visitors over the years.........

I received this email from Martin.........

Mark,
After all the helpful advice and tips you gave me I decided to get your book.

I find it extremely informative and I'm sure I will be referring to it frequently.

I was wondering if you can help me on one more thing, I noticed that you said you pay £xxx per year public liability insurance. 

I am having trouble getting a quote, I've been knocked back from loads as they said it's too risky because there are fire risks and most of the work will not be done on my premises.

I've had one quote and that was from AXA and it was for £4500.00 per year!

Any tips you can give me please?

Thanks very much,
Martin.

and I sent him a reply as usual.........

my answer:

You can expect to pay from as little as £500 per year or as much as £10k, as there are many considerations here.

contact Dave at Dave.Evans@mcmgroup.co.uk 
as he is my liability insurance broker and he has done a first class job over the past ten years at least!

his desk phone is 0161 882 358

tell him markthewelder at The Metal Doctor Ltd recommended you to call him!


HOWEVER........

please note: blacksmith insurance premiums are calculated upon lots of things, not just 'hot work risk'.


He may ask you what your business turnover is (or is expected to be when you start trading) so don't say you are going to earn £150k in the next year!


The higher the turnover you quote, the higher the premium you will be charged.


Whether you say you want mobile welder insurance, or general welding insurance, or hot work insurance, it all starts with a basic blacksmith liability insurance policy for what I do as a mobile welder fabricator with a welding workshop premises too.


you can say you will only expect a  turnover of £20,000 in your first year and he may be suspicious that this is too low to be real, so be careful.

be realistic here and quote sensible figures, you can always add extra cover when profits allow!


Remember that you can also opt to pay your insurance over ten months, which is easier on your cashflow!


You can also take out the absolute basic and cheapest cover (ask for it - or how to reduce it using higher voluntary excess) then expand cover as customer base and profit levels change.


I renewed my insurance just last month and saw another large increase in premium, more due to an increase in additional risks covered and my increasing  turnover than higher inflation rates. 


Standard cover includes for yourself as say business director/owner for welding work (hot risk) and someone for office duties, you are not covered for any manual working employees or even part time employees or help/sub contractors, this is an added risk that you will be charged for, if you want to have employees you will have to get extra liability cover as required.


The level of public liability cover required (ie 5 million or 10 million etc) is dependent upon your customers.......most private businesses will accept your cover at say £5M, but local authorities, hospitals, most PLC's, schools etc will request that you have minimum cover of say £10M, and they very often ask to see all insurance paperwork, including your policy schedule.....so be honest from the outset and get the higher profit welding work that allows the right level of insurance cover....... Phone your customers and ask how much liability cover they require before allowing your 'hot work ' welding at their premises.


it is minimal cost to you to upgrade level of cover once a policy is in place, but you must always remember to pass the cost of all insurances directly to your customers and don't worry about doing this, everyone does it as they have no option and it is an expected expense.


You should now know how to work these insurance costs into your breakeven figures to show you how to correctly arrive at your minimum breakeven hourly or daily earnings amounts that you must earn.


There are lots of 'ins and outs' when it comes to getting the right liability insurance, such as specific cover for repairs to road going vehicles such as tipper wagons or vacuum tankers etc etc, so plan what you expect to be repairing and always ask for cover to be included that really does give you the right level of cover for the repair of anything that involves something that travels on public roads or has the capacity to fail (due to what you have repaired) when in any public place or where an accident may give rise to a claim that involves the general public.


If you intend to repair cars, you will have to have motor vehicle repair risks added to your policy, as cars repairs are not covered on a 'general blacksmith' liability policy.


One of the main risks with cars is the petrol tank, so I have it recorded that I will not ever repair a petrol powered vehicle unless the petrol tank is first removed completely from the vehicle and they accept this, or they simply will not give insurance cover for car welding repairs....so be warned!......car welding insurance is an additional insurance risk to that of a general blacksmith.


incidentally Martin, the addition of all the special risks and conditions that I have made to my policy over the years has not actually increased my premiums by very much.


I also tell all my private and corporate (and prospective) customers to always ask to see a welder's 'hot work' liability insurance policy schedule, which separately details the risks that they are really covered for....this helps to prevent 'cowboy' welders from stealing my customers!!!!!!


You would be amazed at the amount of mobile welders that do not have the correct hot work liability insurance for the work that they do.


You don't have to take fire risk insurance on your workshop premises as far as I am aware, as long as the general public don't have access to your premises or workshop and you have no employees, so you could discount cover for that and invest in fire extinguishing measures and have a very good 'house keeping' policy that prevents fire risk!...... just remember to keep your customers property covered for fire risk!


Please bear in mind that I am not a lawyer or professional adviser, I am just a welder, so always ask questions and take the best advice from your insurance broker as YOU pay his wages!..... write down everything you can think of before phoning for an insurance quote...it will save you time and money at the end of the day.


I hope this is of help to you.

regards
Mark.

mobile welding insurance cover

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