Construction Insurance in Ireland

While researching tradesmen and insurance recently, I stumbled upon something quite interesting. Did you know that in the Construction Industry in Ireland, there is no legal obligation for a construction company to have some type of construction insurance?

Even though there is no must in the Irish law, it is vital that construction workers do have satisfactory insurance cover, especially as Ireland does have a high injury rate on construction sites. I would be confident to say that a construction company with no insurance what so ever, would find it very difficult to find work.

While insurance does seem to be an intricate topic, here are three key types of insurance: Public Liability Insurance, Employers Liability Insurance, and Contractors All Risks Insurance.

Wikipedia states that liability insurance is used “to protect the purchaser (the “insured”) from the risks of liabilities imposed by lawsuits and similar claims.” For example, while you are working, you let slip some sort of tool which ends up hurting someone passing by. This person then makes a claim against your company. Public liability insurance will cover this.

Employer’s liability insurance is quite similar and supplies cover if any of your employees experience any injury. If the employee wishes to claim payment for these injuries, this insurance will cover the fee.

Contractors all risks insurance is for contractors working at a construction site. This type insurance offers cover for the area that is being operated on. For example, if you are building an extension onto a house and the extension catches fire and is damaged while you are building it, then this type of insurance will cover the damages.

What type of insurance do you believe is the most vital? Let us know what you think.

All the Best,

Regards,

Daniel Beere