Are you Covered for Special Risks?
Did you know that many areas of your working environment may not be covered by your insurance as you'd expect? Certain risks demand a higher level of cover or more to the point, fewer restrictions on where and how you work. There is nothing worse than assuming that you are covered only to find out your cover is lacking. Imagine for a moment you land a contract to work on a listed building and you have a small accident. No problem you have the cover, only to find out that the claim you wanted to present regarding damage to that grade 2 listed building you worked on is excluded by your insurer..
FML Insurance services started out as a specialist niche broker offering cover to those applying their trade to/in areas of which most insurers wouldn't provide cover for such as working on listed buildings,welders who work in and around docks with some work beyond the pier point and other such scenarios that have left many insufficiently covered or worse, no cover at all. How often does your broker actually go through all the exclusions and pair them with work or contracts you have undertaken in the past to make sure you are covered correctly? When was the last time you read through all your insurance documentation and checked your cover?
Many business owners forget to think of these things when purchasing their annual liability insurance and unless your broker asks the questions this omission could leave many businesses paying for a cover package which effectively doesn’t cover all their needs. Certain situations arose and it was found that this omission was leaving many businesses paying for a cover package which effectively wasn't providing any protection. It's all well and good when the onus is placed on you to check the exclusions affecting your insurance cover but as conscientious brokers, we will go through those details with you and if there is a discrepancy we will endeavour to find you an insurer that covers what you need.
This is one of the reasons that FML has always been focused on areas that need particular exclusions lifted such as working on listed buildings, burning and welding conditions etc., they always aim to provide the correct cover that matches all and any work you may undertake in the course of the year.
Whether that includes working on a listed building, welding pipes on board a ship, or working at height, it's this attention to detail often overlooked by others that have seen us remain one of the main brokers for the construction and engineering industry.
Take a look at the work you do and just try and picture these little details when speaking to your broker or insurance agent. Sometimes it can be something as simple as choosing a different type of cutting disc to use when taking on a contract tiling job that can make a big difference in your premium or could compromise your insurance cover altogether. Always speak to your broker and be open and honest about everything you may find. It is often these little things that can make a big difference to A. the cost of your premium and B. the restrictions and exclusions placed on the work you do.
If in doubt or if someone else will not give you a straight answer give us a call and ask us about how we pay attention to the little details, not just the big ones when it comes to arranging your insurance.