Asbestos Removal Insurance

Introduction to Asbestos Removal Insurance

Asbestos is a material with serious and complicated heath exposures.  Asbestos fibres are very deadly if inhaled by humans.  They lead to all kinds of health risks which are as serious as cancer.  For working in such a field, asbestos removal insurance is vital to safeguard yourself, your employees, your clients and the general public.  This will also safeguard you in case of any damages claims if you are a contractor.  The asbestos removal insurance will be covering all the liabilities which include employers, products and the public.  

The indemnity limit that asbestos removal insurance provides goes as high as £10 million.  There is no limit or constraints related to the height or depth of the area under coverage.  There are also no qualifications related to burning or welding.  In both these cases, asbestos removal insurance can be obtained.  There is also a special qualification for sudden or accidental pollution as a result of asbestos removal.  The property that is under work gets damage coverage of up to £2500.  All the risks of asbestos removal contractors are covered.  There is also provision for a professional indemnity bond for the contractors in case of asbestos removal insurance.

Many insurance companies offer different packages for asbestos removal insurance.  Some of the highlights of these exclusive packages are detailed below:

Public Liability

This, without any argument, is the most important and vital coverage for any business which is looking for asbestos removal insurance.  It is essential that full requirements are understood and you get complete and continued insurance protection for your business.

Employer Liability

Employer liability is also required in any asbestos removal insurance.  This is due to the fact that there should be insurance coverage to meet the costs of compensation and legal issues if any employee gets ill or injured during the working on an asbestos removal project.  If a court decides that the employee got injured as a result of employer fault, then he will have to pay heavy compensation costs.  This will only be possible if he has full coverage including employer liability- available in asbestos removal insurance cover obtained by the employer.  This is also vital because even if the business completely collapses, even in that case the employer will have to pay compensation to the employee who got injured due to employer's negligence.

Professional Indemnity Insurance:

This is the kind of insurance package which is targeted towards asbestos removal businesses that are engaged in providing professional advice or services.  This insurance package will be covering financial losses resulting from negligence, error or omission of the employer.

Insurance companies come up with different packages of their own for asbestos removal insurance services.  The business has to decide which insurance policy or package best serves its purpose.  A contractor dealing with asbestos removal is exposed to variety of risks which can lead to serious accidents.  Asbestos removal insurance coverage is for the benefit of the businesses dealing with asbestos removal.