The true cost of a claim

For many business owners, insurance is something that you only think about when it’s time to renew your policy, or if you need to submit a claim. After all, the purpose of business insurance is to help protect you against the everyday risks that come with doing your job. Without insurance, you could potentially be left out-of-pocket for costly claims and legal fees.

According to the Association of British Insurers, the UK insurance market is the largest in Europe, and the fourth largest in the world[1] so it is an essential part of our economy.

The true cost of making an insurance claim

At HETAS Insurance Services between 2018 and March 2020 we assisted 62 HETAS installers with a total claims cost of more than £370,000. We’ve taken a look at some of the common causes of claims and some simple steps you can take as a business to reduce your risk of facing a similar situation.

Property damage

The most common insurance claims we see are for damage caused to third party properties and vehicles. In fact, from 2018 to March 2020, damage to property caused by HETAS installers whilst at work accounted for 68% of the overall claims reported to HETAS Insurance Services. These claims accounted for 86% of overall claim costs for the same period.

Ensuring that you carry out a risk assessment of your work environment could help to reduce the risk of damage caused to third party property. Consider what could potentially cause harm within your workspace and what precautions you can take to minimise causing damage. Think about things like potential trip hazards, where vehicles are parked, and potential fire risks. The Health and Safety Executive has a lot of useful information on risk management including example risk assessments and supporting guidance. You can also download template Risk Assessments from the HETAS Technical Area.

Accidents and injuries

Another common cause for claims are those for personal accident and injuries at work. Between the start of 2018 and March 2020, the total cost of personal injury claims from HETAS Insurance Services was more than £35,000. These claims included injuries caused by slips, trips and falls, handling and lifting, and by use of work equipment.

Whilst not included as standard in many commercial policies, personal accident (PA) insurance can be arranged as an addition to your policy. If you or a member of your team suffer an injury at work which prevents you from working, PA cover provides a weekly benefit for up to a year to cover loss of earnings or treatment costs.

Unfortunately accidents at work can and do happen, but there are simple steps that you can take to reduce the risks facing yourself or your team.

Tool theft

We know that your tools and equipment are essential for you to do your job, and they can be an investment. Unfortunately, claims for tool theft is something we often assist HETAS installers with and the average costs paid out on these claims is £2,700[2].

Implementing some simple steps can help you to reduce the risk of falling victim to tool theft. For example, not leaving tools in your vehicle overnight, improving the locks on your vehicle, and utilising van storage boxes. 

Protect yourself

While you can’t stop things from going wrong, by ensuring you have the right insurance in place, you can help to reduce the financial impact should something unfortunate happen.

HETAS Insurance Services Logo

When it comes to choosing business insurance there are numerous options available. You could choose an off-the-shelf policy, but is a “one-size-fits-all” the best approach for your business? By choosing HETAS Insurance Services, you are choosing a broker who understands your business, the specific requirements of your HETAS membership, and the risks you face.

Our insurance products have been developed specifically for businesses just like yours. Simply get in touch to find out more.  


This is a marketing communication.

HETAS Insurance Services is a trading name of Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA (for details see marshcommercial.co.uk/info/regulation).  Registered in England and Wales number 0837227. Registered Office: 1 Tower Place West, London, EC3R 5BU.


[1]UK Insurance and Long Term Savings Key Facts 2019” – ABI

[2] Average taken from claims in 2018 – March 2020.

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