Tradespeople (Plumbers, Electricians) + Insurance Claim: The Challenge
As tradesperson, preparing bank statements for insurance claim is a common but time-consuming task. Insurance claims for business interruption, theft, or fraud require bank statements as evidence of financial loss. Insurers need clear, organised financial documentation.
How BankScan AI Helps Tradespeople (Plumbers, Electricians) with Insurance Claim
Convert your bank statements to Excel to track job payments, match material purchases, and get your books ready for self-assessment without hours of data entry. For insurance claim specifically, BankScan AI extracts Pre-loss revenue baseline, post-loss revenue decline, increased cost of working, automatically.
How Tradespeople (Plumbers, Electricians) Handle Insurance Claim
When preparing bank statements for insurance claim, tradespeople (plumbers, electricians) need to Tradespeople receive customer payments via bank transfer, cash, or card, purchase materials from builders' merchants and wholesalers, pay for van fuel. BankScan AI automates the data extraction step.
Key terms you'll encounter: day rate, materials markup, call-out charge, retention.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload 12-24 months pre-loss for baseline comparison, plus the entire loss period; business interruption claims may need 3+ years of historical data of statements for insurance claim.
AI extracts what you need
Our AI extracts Pre-loss revenue baseline, post-loss revenue decline, increa — formatted for tradespeople (plumbers, electricians) workflows.
Complete your insurance claim work
Download Excel files ready for insurance claim. Month-by-month comparison of pre-loss versus post-loss periods, with seasonal adjustments shown; clear separation of insured versus uninsured losses
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Tradespeople (Plumbers, Electricians) — Insurance Claim
- Built for Tradespeople (Plumbers, Electricians) — Saves 2-3 hours per month on expense categorisation and receipt matching, with year-end self-assessment preparation reduced from a full day to under 2 hours
- Software compatible — Output works directly with QuickBooks Self-Employed, FreeAgent, Excel
- Built for Insurance Claim — Convert bank statements to structured Excel spreadsheets showing income patterns, loss periods, and transaction evidence for insurance claim submissions.
- Key data extracted — Pre-loss revenue baseline, post-loss revenue decline, increased cost of working, continuing fixed costs during interruption, any saved expenses or alternative revenue
Compliance: Tradespeople (Plumbers, Electricians) + Insurance Claim
When tradespeople (plumbers, electricians) prepare bank statements for insurance claim, specific compliance requirements apply.
- Self-employed tradespeople must register with HMRC and file self-assessment returns. CIS applies if working as a subcontractor in construction. Gas Safe registration (gas engineers), NICEIC/NAPIT (electricians), and other trade body memberships have costs that must be tracked. VAT registration is required above the threshold.
- Legal basis: Insurance Act 2015 (duty of fair presentation); policy-specific claims conditions; Financial Ombudsman Service rules on fair claims handling
Insurance Claim — Built for Tradespeople (Plumbers, Electricians)
Most policies require notification within 30 days and full claim submission within 6-12 months; delays give insurers grounds to question or deny the claim
Try Free — Tradespeople (Plumbers, Electricians) + Insurance Claim