Insurance for tradies: is your cover up to the job?
If you’re a tradie, small business insurance can help if something goes wrong on the job, from property damage and public liability claims, to stolen tools.
Whether you’re a sparky, chippy or brickie, here are a few types of cover to consider when building your tradie insurance toolbox.
Find the answers to:
What can public liability insurance cover?
So, what is public liability insurance? Think of it as a safety harness for your business. If someone gets injured, or property is damaged due to your work, public liability insurance can help protect your business against covered claims and legal liability, depending on your policy terms, conditions and inclusions.
Public liability is often needed to get on site and can help cover legal expenses of a claim. A minimum of $5 million1 coverage is usually required, but depending on the job, you may need more.
Related article: Public liability insurance for tradies
Why does a certificate of currency matter on site?
Your certificate of currency is your ticket to work on site.
A certificate of currency proves you have current public liability insurance, and in most cases, the site manager will ask for a copy before you start work.
How can tradies protect tools and portable items?
If you don’t have your tools, you can’t get the job done. Accidental breakage or getting your tools ripped off can be a risk. Cover for tools of trade could be a worthwhile investment.
Accidents happen too – who hasn’t driven off with something valuable on their roof? That’s where cover for portable items comes in. You can add it to your policy, and it can help cover loss or damage anywhere in Australia.
Related article: How to cover your trade tools
What insurance should subcontractors have?
If you use subbies, make sure they have their own public liability insurance to cover the work they do. Otherwise, you could find yourself forking out for any mistakes they make.
Cover your work ute
Your ute is vital to your business, so make sure you have the right cover. Many insurers, including QBE offer commercial vehicle insurance as a separate cover, so you may want to consider that too.
Do I need workers comp?
If you employ anyone else, you’ll need workers’ compensation insurance, which covers employees for physical and mental injuries suffered through work. Laws differ from state to state, so check your local obligations.
At the heart of it, it’s important to have the right small business insurance. That way, you can jump on the tools knowing your business is protected.
QBE Small Business Insurance Get a quote
1 Public Liability Insurance for Small Business | Online Quotes | QBE AU
