Contractor all risk insurance is an important way to protect yourself against a wide variety of costly losses at work.
This versatile policy type is sometimes called CAR insurance for short, and offers comprehensive cover for contractors working in the construction sector.
Some examples of the type of protection you receive under a CAR policy include:
Damage to properties and buildings
Damage or destruction of tools and equipment
Accidental harm to third parties and members of the public
A good contractors all risk insurance policy provides a high level of cover for the widest possible range of losses, to give contractors total peace of mind while at work.
But what happens if you work via an umbrella company? It's good to know that you are still protected by adequate insurance, in case of an accident or incident on the job site.
An umbrella company with insurance
Primis offers substantial insurance coverage as standard with our umbrella company service, so there's no need to worry about having a suitable policy in place.
With our Umbrella solution, you are protected by insurance cover up to £25 million, as well as avoiding potentially costly risks like IR35 exposure and issues regarding compliance.
Umbrella company insurance typically covers the three main risks contractors need to insure against, in order to operate in a compliant way:
Professional Indemnity insurance
Public Liability insurance
Employers Liability insurance
By choosing a reputable umbrella company like Primis you can feel more confident about going to work, knowing that you are protected against major financial losses.
In addition, you receive pension contributions, holiday entitlement and eligibility for tax relief, all of which helps to boost your take-home pay.
Join our CIS service
Our Construction Industry Scheme service allows contractors working in the construction sector to benefit from the CIS.
Under the CIS service, Primis make statutory tax deductions at source from any payments made to you in relation to construction work.
The payments you receive are net of deducted tax. This means higher net pay than you would receive under normal HMRC deductions.
Our CIS service is fully compliant with full admin support relating to invoices, deductions and pay - and you can manage your account at any time using our online portal.
We are here to support our contractors in the construction industry, by giving you access to the admin assistance and insurance coverage you need to get the job done.
Find out more
If you have specific questions about the £25 million insurance offered as part of our Umbrella service, please don't hesitate to get in touch.
We will do our best to answer any enquiries as fully as possible, so that you know exactly the protection you will receive when you work under the Primis umbrella company service.
You may also wish to arrange your own insurance, for example critical illness cover or income protection insurance, in case you are unable to work for an extended period of time.
To find out more, please contact Primis today by filling in the form on our Contact Us page, emailing sales@primisuk.com or calling 01925 912200.