As a tradesperson, you encounter risks and challenges every day, from working at heights and crawling into small spaces to quoting on new work and getting contracts signed. It doesn’t matter if you’re a landscaper, plumber, electrician, or painter; an often overlooked yet critical detail is having the right trades insurance.
With so many types of insurance available for tradies, it can be challenging to figure out what cover you need for your individual risk. From selecting the right cover to understanding what to do when you need to make a claim, read on to learn about the basics of business insurance.
Why business insurance for trades is essential
One of the primary reasons tradies need insurance is to protect against financial loss. From property damage and natural disasters to break-ins and having tools or equipment stolen. Consider how you would operate your trade business if your tools were stolen or if you injured yourself onsite and needed an operation. Knowing that your company has financial protection can ease your anxiety that, in the worst-case scenarios, you and your family will be covered.
Some types of Insurances a tradesman should consider include:
- Income protection insurance
- Workers compensation insurance
- Injury and illness insurance, and
- Tools insurance
Business insurance is often overlooked with misconceptions and myths, such as “insurance is too expensive for tradies” and “claims are always denied.” Find out why these small business insurance myths are not true.
Why trades must have personal accident and illness cover
What would happen if you had an injury at work? How would you pay your employees, your mortgage or rent? Would you be able to put food on the table? If you or your team were injured, had an accident, or suffered a long-term illness, the impact on your business could be terrible. If you run a small business, financial protection in case of worksite accidents or unrelated injuries is a must-have. The types of insurance policies available for trades can provide a selected weekly financial benefit for up to two years.
Benefits of using insurance brokers for trades insurance
One of the most important details about getting business insurance is ensuring it covers you for your personal situation. While many tradies contact a large call centre for advice, in most cases, these operators are representing the insurer and may not have the skills or experience to consider your special requirements.
Atlantic Insurance brokers represent your best interests and can tailor insurance policies to your specific needs. We pride ourselves on offering complete objectivity and transparency. By assessing your risk and circumstances, we can recommend the best insurance coverage, and with access to many trade insurance policies, we can guide you on the best policies.
Unlike call centres working on behalf of insurance companies, insurance brokers like Atlantic Insurance can provide you with personalised support. We also regularly review your insurance coverage to ensure it remains cost-effective and offers adequate insurance.
Workers compensation insurance for tradies
As a trade business owner, you must protect yourself and your employees against injury at work. However, because Workers’ Compensation requirements vary from state to state in Australia, different policies will apply. Contact us here to find out how best to protect you and your employees against injury at work.
How do you choose an insurance broker to help you arrange your tradie insurance coverage?
When considering the types of trade insurance, the insurance broker must have a track record of working with small business owners in your industry. It is also essential to know if the insurance policies will cover you for all your business requirements and if they are competitive.
Atlantic Insurance has over 25 years of experience and ensures all our small business tradies have access to the most competitive and comprehensive policies available. To ensure you stay insured and up to date with payments, we also ensure policies are paid on the same date. With regular reviews, our trade insurance clients get peace of mind that they are fully insured with no hidden insurance gaps.
Why Tools insurance is important
Can you work if your tools were stolen overnight? For most trade businesses, the theft or accidental loss of tools can have a disastrous impact on your business. If you are unable to work and earn an income, how will you pay your team or put food on the table? Atlantic Insurance can arrange Tools Insurance, an Insurance Policy to cover the theft or accidental loss of your Tools or equipment.
What you must consider when choosing trade insurance coverage?
You should consider which brokers offer comprehensive, competitive policies that make creating an insurance package best suited for your needs easy. At Atlantic Insurance, we work to arrange all policies to a common due date, simplifying annual reviews and avoiding confusion or potential gaps.
The Benefits of Trades Insurance with Atlantic Insurance
For over 25 years, Atlantic Insurance has been catering to the insurance needs of people in the trades. Our experienced Client Managers work with you to select the appropriate policies to protect your business and assist in lodging any claims and seeing them through to finalisation.
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. Your 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.
