Railway Contractor Insurance

Caunce O’Hara’s Railway Contractor insurance offers comprehensive industry-specific insurance for a broad range of risks faced rail contractors.

Acceptable criteria for coverage includes:

• Turnover or fee income of less than £250,000 pa.
• A maximum of 5 employees.
• No claims or circumstances in the last 3 years.
• Must be a UK-based company.
• All UK-based work with no overseas exposure.
• No previous insurance policy cancelled or declined.
• Work as part of a team, with no sign-off responsibility for work undertaken.

Business insurance will provide cover for claims including:

Alleged negligent advice

You are contracted to work onsite for a client. You provide product training to a new member of the engineering team. The new staff member does not fully understand how to use the equipment and has an accident, for which  you are alleged to have caused due sub-standard training. Professional Indemnity insurance would cover you in this instance.

Breach of contract

Breaches of contract can include you missing an agreed deadline for delivery of an engineering project, or it can be that you are unable to fulfil an agreed contract and need to terminate the contract early. Professional Indemnity insurance would provide cover for this in the event your client made a claim against you.

You cause an accident while working onsite

You are contracted to work onsite for a petrochemical client and are responsible for the operating functions od the control systems and storage tanks. You overlook an issue with one of the storage tanks, which causes it to breach, injuring a member of staff. This instance you would be covered by Public Liability insurance.

With Caunce O’Hara’s intuitive online quote and buy system you can get an indicative quotation for your engineering contractor insurance in a matter of minutes.

The price of railway contractor insurance depends on your level of perceived risk. Cover options are broken down into high risk, moderate risk, and low risk. E.g.: a contractor working in an office role would be perceived to be at lower risk than a colleague who works on the rail lines.

For a quote call 0333 321 1403

Apart from Professional Indemnity insurance, contractors are likely to be asked to carry Public Liability insurance as part of their contractual obligations to protect the clients’ property and members of staff.

It is also important to note that if you are a self-employed business owner, a claim can be made against you personally with unlimited personal liability, therefore Directors and Officers insurance is a valuable insurance policy which will cover you in this instance.

Legal Expenses insurance will provide cover for costs incurred from a legal occurrence or claim that your indemnity and liability insurance does not cover, including the costs incurred from an IR35 tax investigation.