Construction Management is the highest circulation construction-based publication serving the UK built environment.
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Why it pays to have the right type of insurance
CM Staff
Insurance broker Premierline explains how choosing the best insurance coverage for your business can pay off for construction firms
Essential insurance cover for businesses in the construction industry could be tax deductible, which means that having covers like public liability insurance in place may be more cost-effective than you think.
Public liability insurance protects clients who visit your premises or work closely with your employees on site. Though it’s not nice to imagine, a client could be injured while visiting a site as a result of negligence by one of your employees. Without the right cover in place, this could prove to be very costly to your business and your reputation.
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When it comes to completing your accounts, did you know your public liability insurance premium is an allowable expense according to HMRC, and therefore can be deducted from your taxable profits?
This could mean a lower tax bill and could save you some extra cash.
Exposed to underinsurance
When buying insurance for your business, it’s important to ensure you consider the covers you really need. Often, the policy with the lowest premium might leave you exposed to underinsurance which could leave you with a hefty bill in the event of a claim.
For example, if you run a temporary office on a building site, does your current insurance policy extend to include public liability at the temporary location?
At Premierline, we’re here to answer any questions you might have about your insurance cover. Working with a trusted insurance broker can help you navigate this process to ensure your business has the cover it really needs.
Don’t forget, when completing your business’s accounts, that your business insurance premiums could count as an allowable expense – speak to your accountant to find out how your business insurance could help to reduce your tax liability in the future.
This article was written by Premierline Business Insurance Broker, the trusted insurance partner for CIOB members. To speak to an expert about insurance for your business, call 0330 102 6158, or email [email protected].
The November/December 2025 issue of Construction Management magazine is now available to read in digital format.
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