Joint Names insurance
If you have a JCT or RIBA contract in place for your project, there is a good chance that you need to arrange a joint names insurance policy on an all risks basis. Not only can we arrange this insurance, but we can tie in non-negligence cover (also known as JCT 21.2.1 and JCT 6.5.1) as well. Please complete the form below or call the office to get a quote. Alternatively, if you would like to complete an offline proposal form, please click here to download one.
Why choose a joint names insurance policy?
Joint names insurance policies are usually required when a home owner is extending or renovating their house, and the builder wishes their name to be added to the home insurance policy.
If you are a builder and wish to add the householder or bank or mortgage as joint name to your contractors all risks policy, please read further below.
At first, this seems an odd thing to do, but we will explain why this is fantastic for the builder, and could well be the requirement of your contract with them.
Let’s start from the beginning. Most home insurance policies will not provide any cover in the event that a builder damages your home whilst renovating or extending it. This is known as a “contractors” clause.
As long as your builder is insured with adequate public liability insurance (to cover their negligence) and contractors all risks insurance (to cover the works in progress and the materials) this might not necessarily be a problem, if, for example, they accidentally burn your house down.
I would point out here though, that this procedure will inevitably be more lengthy than claiming off your own insurance – and that’s assuming you can even prove that they were at fault.
From the builder’s viewpoint, of course, they would rather not have a claim against them at all!
The legal solution for the builder is to have a contract with the householder that they will not claim off the builder’s policy should they damage the property or works, and this is done by adding their name to your home insurance (ie joint names with you). This is known as a JCT (Joint Contracts Tribunal) contract and may well be organised by your architect.
Of course, most home insurance companies won’t cover any damage caused by the builder, won’t insure any works in progress or materials and furthermore, most likely won’t add the builder as joint policyholder in any event.
This therefore appears to be an intolerable situation for yourself but, of course, we have the solution!
At Versatile Insurance we specialise in construction insurance and are able to arrange joint names policies that will cover your existing buildings, contents, works in progress and materials – all packaged up in one simple policy. Furthermore, we can also arrange JCT 21.2.1 (or JCT 6.5.1) non-negligence public liability insurance and structural warranties, making us your one-stop shop for all of your renovation or extension or self build insurance.
For builders, not only will you be comfortable in recommending Versatile Insurance to your customers as “the place” to go for joint names insurance, JCT insurance and structural warranties, we are pleased to advise that we can arrange contractors all risks insurance which will automatically include any party required under the contract as a joint name.
Other insurance available from Versatile
Public Liability Insurance
When you work away from your business premises, you may cause harm to someone else or their property. For instance, you may drop a tool from a height which hits a passer by resulting in a claim being made against you. We can provide Public Liability cover for most trades, from tradesman such as Builders, Plumbers and Electricians, to High Risk trades such as Roofers with heat use and Sprinkler Installers. If you install Sprinklers, Fire Alarms or Security Alarms, you will need to make sure that efficacy cover is included within the cover as this is one of the larger risks that you could be exposed to. If you would like a quote for this cover, please click here.
Employers’ Liability Insurance
This is a legal requirement for nearly all employers and protects the employer against claims from employees, labour-only sub-contractors, hired people, volunteers, people working under Government sponsored work schemes and even friends who are helping out, where there has been negligence resulting in their injury or death. Although the law only requires you to hold £5,000,000, insurance companies nearly always issue cover for £10,000,000. This cover can be included within policies like Home, Renovation, Self Build, Office, Liability and many others. If you are unsure whether or not you need this cover get in touch either via by email or phone.
Products Liability Insurance
This covers you for when the goods you supply cause harm to a member of the public, this is something that is normally included with Public Liability insurance. Please click here to start your quotation.
Public Liability for Land
Public Liability for land, also known as Property Owners Liability insurance, is a policy which protects you in the event that someone is injured while on your property or land. This could be a trespasser taking a shortcut over your field who gets injured after stepping into a mole hill, as frustrating as it would be they would be able to make a claim against you (rightfully or wrongfully). This policy type would cover the cost of defending your claim in addition to settling valid claims. If you would like a quote for this, please click here.
Excess of Loss (also known as Excess Layer)
Most insurers will cover you up to £5,000,000 limit of indemnity for Public Liability Insurance. However there are times when you require more cover, this could be due to a client requesting this or due to your work within a high risk trade. You can “top up” your existing policy with extra insurance from a different insurer using an Excess of Loss policy which is very simple for us to arrange. If you would like for us to arrange a quotation, please click here to provide the information we need and we shall find the best quotes for you.
Contractors All Risks Insurance (also known as Contract Works)
Within lots of trades you may responsible for the work being undertaken until the contract has been completed and handed over to the owner. If during the project your work burns down before handing it over, you may be responsible for all of the costs to re-do the work which can often cost more than the initial work due to debris removal. Whether you undertake small or large projects, it is unlikely that a loss of this nature could be absorbed into your profit margin, which is why many contractors now take out this cover. Please click here to start your quote.
JCT Clause 21.2.1 and 6.5.1
JCT Clause 21.1.1 and 6.5.1 cover are very similar and are sometimes referred to as “small works” or “non-negligence insurance”. This insurance covers you for injury or damage to property attributable to the carrying out of the Works but where you have not been negligent and there is no fault in the design or workmanship done. If you are undertaking basement works, this cover is an absolute must. We would advise speaking to your architect if you have any concerns about your project as they are responsible for advising you on what insurances you should be considering. If you would like a quotation for 21.2.1 or 6.5.1 insurance, please click here.
If your business provides advice or a consultancy service which could lead to a financial loss for your client, you could be responsible for this loss. Depending on your trade, you may also be legally required to hold this insurance! An example of this would be giving incorrect advice or making mistakes in a report resulting in a financial loss for your client, or alternatively slander, libel and breach of copyright. Even if you are not at fault, the cost to defend a wrongful claim can be very high! If you would like a quote for Professional Indemnity Insurance, please click here.
JCT Clause 5.4 (a, b, c) (also known as Joint Names Insurance)
If you have entered into a JCT or RIBA contract with your contractor, it may be a requirement of this that you hold an All Risks insurance policy in both your name and the name of your contractor. Not all insurers are able to meet this need, but we have specialist insurers that can tailor the cover to meet the exact needs of the contract that you have put in force. Please click here to start your quote.
Treatment Liability Insurance (also known as Treatment Risks)
Many councils will only ask that a Tattooist, Beautician, Piercer or similar trade holds Public Liability Insurance, which is something that we are Versatile do not agree with. The biggest risk that a trade of this nature is exposed to is covered by Treatment Liability Insurance. If you are performing a treatment and accidentally injure your client, or they later catch an infection or fall ill, your Public Liability insurers will not pay this claim. Alternatively, although you may have undertaken your work correctly, your client may fail to follow your advice and then make a complaint and demand financial compensation, again Public Liability insurance will not cover you. Treatment liability insurance is the cover that you need to protect you against claims of this nature and is a very simple cover for us to arrange. Please click here to provide the information we need to arrange the right cover for your business.
Most Travel Insurance providers can only provide cover to destinations that the FCO advise are safe to travel to but at Versatile Insurance we can also provide cover to destinations that the FCO advises against travel to. We have a specialist policy which has been designed to cover the needs of travellers heading to either war zones or where the risk or terrorism is high.
If you would like for us to arrange a High Risk Travel Insurance quote, please click here.
Alternatively, if you are looking for standard Travel Insurance, please click here.