What You Need to Know About Plasterers Insurance

As a plasterer, you have different business insurance needs from other trades. From fixing holes in ceilings and walls to working on new properties or restoring rooms to their grandeur. Plasterers’ insurance must cover property, team members, tools, and resources. But with so many companies offering business insurance for trades, it can be challenging to find the right one. Read on to learn everything you need to understand about insurance for plasterers.

Recommended Business Insurance For Plasterers

As a construction-related activity, plasterers are exposed to different challenges and potential risks while working. To protect yourself and your business from adverse outcomes, the Victorian Building Authority recommends the following types of insurance for plasterers:

1. Domestic building insurance
2. Professional indemnity insurance
3. Public liability insurance.

1. Domestic building insurance: This type of insurance is required if the works you provide are worth more than $16,000. This type of trade insurance covers your clients if you die, are declared insolvent or can’t complete the works promised in the building contract.

2. Professional indemnity insurance: You need this insurance to protect yourself and your business against claims for mistakes or negligence that leads to financial loss for your clients. For instance, if the plastering work were faulty and damaged their property, professional indemnity insurance would cover the costs of defending against the claim. It would also cover you for any compensation awarded.

3. Public liability insurance: Plasterers need public liability insurance to cover themselves when working in clients’ homes or working closely with other tradespeople. This type of business insurance covers you for property damage and injury to third parties, including clients, suppliers, or members of the public. For example, if someone trips over your tools while you’re working, public liability insurance will cover the costs associated with their claim.

Atlantic Insurance has been a leading Australian business insurer since the early 1980’s. With years of experience insuring business trades, we suggest you insure your plastering business for the following.

1. Tools and equipment: With more trade vehicles being broken into daily, this type of insurance will cover you if you accidentally lose, damage, or steal your tools. Because without your tools, you cannot work. Atlantic Insurance tools and equipment insurance allows you to quickly repair or replace them and get back to work as soon as possible.
2. Business interruption and continuity: Unexpected events, including natural disasters, accidents, or fires, could disrupt your plasterer’s business operations. This type of insurance includes coverage for property damage and business interruption and gives you peace of mind while your business recovers and continues.
3. Personal accident and illness: This type of insurance is also called income protection insurance. If you have an accident while working or become ill and cannot work for a period, this type of business insurance can provide you with a weekly benefit to an agreed value. Our experienced insurance brokers can explain the options available and tailor personal accident and illness insurance coverage to your requirements.
4. Workers’ Compensation: Workers’ Compensation insurance coverage is compulsory if you have employees. For sole traders, Atlantic Personal Accident and Illness cover can provide up to a $1,300 weekly benefit at an agreed value with no proof of income required.
5. Commercial motor insurance: This type of insurance protects the vehicles you use when you’re working.

Advantages of Atlantic Trades Insurance

Our trade insurance services, including insurance for plasterers, are simple to apply for and require no paperwork.

With premiums starting at $500 per year and interest-free premiums available, our team of insurance brokers have access to a wide range of insurers and products for all types of industries. And if you need to make a claim, we handle it all. Contact your Client Manager, not a call centre, and they will manage all the details.

Reliable Plasterers’ Insurance with Atlantic Insurance

Since the early 1980s, Atlantic Insurance has always been there for our clients. Our insurance brokerage is privately owned and 100% Australian and offers various trades and insurance products. With access to local and overseas insurers, our team can tailor and negotiate specialised, unique, and competitive plasterers’ insurance for your business. We meet our trade insurance clients’ needs Australia-wide. For a free quote, call us at 03 9059 1916.

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.