It doesn’t matter if you run a trade business or if you are working as a tradie contractor; there are many risks that you may be exposed to. Tradesman insurance is a must, as there is the potential for accidents or unexpected events around every corner. From electricians to concreters, plumbers and builders, trades insurance can include tools of trade, liability, plant and equipment and a number of other Insurance covers. Discover the essential trade business insurance you must consider to manage risks and remain protected.
Essential trades insurance policies
Public Liability Insurance
Public Liability Insurance provides coverage to protect a person or a business against claims by third parties for bodily injury or property damage caused by negligence on behalf of you, your employees or by one of your products. Examples of the types of claims include:
- Faulty machinery leading to an incident
- Someone tripping on something on business property and injuring themselves
- When working with a customer, a worker accidentally damages the customer’s property.
The policy helps to cover potential costs of replacement, repair or damage to compensate third parties when claims are made following alleged negligence.
Trades Tools Insurance
Trades Tools Insurance is essential to cover the cost of damage, loss, or theft of your tools. If your tools are damaged or stolen, you must replace them and perhaps a few days of lost income.
Over time, theft of tools has become more prevalent. Insurance coverage through trades tool insurance ensures you won’t fall behind on your projects and can keep working using the replacement tools. Atlantic Insurance offers tools insurance that includes:
- Protection against theft or damage of tools
- Not limited to one item
- Competitive premiums
- Fast claims process so you can replace your tools as soon as possible.
Commercial Motor Insurance
As a tradie, you may have a single commercial motor or a fleet of vehicles to carry out your business activities. A commercial motor insurance policy protects your vehicles against loss or third-party damage. To ensure your commercial vehicles are supported, it can also be extended to cover a range of benefits, including windscreen replacement with no excess or vehicle hire following an accident.
Injury and Illness Insurance
To protect your income, Injury and Illness Insurance will assist you if you are physically unable to work due to an accident, injury or sickness. Depending on the type of policy you choose, some benefit periods cover you for up to 5 years with waiting periods as low as two weeks. Injury and illness insurance ensures you are in pocket if unforeseen circumstances occur.
Trades insurance at Atlantic Insurance
At Atlantic Insurance, we understand that being a tradie involves years of refining your craft, developing more innovative processes and understanding quality materials. For over 25 years, we have been accommodating the various needs of our trades clients with tradies insurance. Enjoy competitive premiums, interest-free monthly premiums in some cases, and access to a wide range of products and insurers with often no paperwork required. Contact us today for a no-obligation free quote at (03) 9836 3733.
Any information contained on this page of the website is general advice only and has been prepared without taking into account your objectives, financial situation or needs. You should consider these, having regard to the appropriateness of this advice and the relevant Product Disclosure Statement (‘PDS’), Target Market Determination (‘TMD’) and Financial Services Guide (‘FSG’), which will be provided following any formal recommendation to you.