Insurance for tradies – make sure your insurance is up to the job
Whether you’re a sparky, chippy or brickie, you’ve got to be tooled up when it comes to looking after your business. If something goes wrong on the job – or your ute gets ransacked – you need to know you’re covered.
Here’s a few tips to help you build your insurance toolbox.
Buy your public liability insurance
So, what is public liability insurance? Think of it as a safety harness for your business. If someone gets injured due to your work, you’re covered. Or if you accidentally cause damage to the property you’re working on, same deal.
Public liability is often needed to get on site and can help cover any legal expenses of a claim. A minimum of $5 million coverage is usually required, but depending on the job, you may need more.
Get your certificate of currency
Your certificate of currency is your ticket to work on site. It proves you have current public liability insurance, and in most cases, the site manager will ask for a copy before you get cracking.
Cover your tools
If you don’t have your tools, you can’t get the job done. QBE research shows accidental breakage was the number one claim for carpenters and electricians. Getting your tools ripped off can also be a risk. So tool insurance for tradies could be a worthwhile investment.
Accidents happen too – who hasn’t driven off with something valuable on their roof? That’s where Portable Items cover comes in. You can add it to your policy, and it takes care of loss or damage anywhere in Australia.
Check your workers comp obligations
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 look into your local obligations.
Make sure your subbies are insured
If you use subcontractors, check they have their own public liability insurance. 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. Most insurers, including QBE, offer commercial car insurance as a separate cover, so you may want to consider that too.
These events could happen at any time. But with the right small business insurance, you can jump on the tools knowing your business is protected.
