Insurance For Tradies
Whether you’re an electrician, plumber, carpenter, painter or other tradie we can help you protect your business. Our flexible packages of trades insurance can be tailored to include the cover you need for the type of business that you run.
What Is Trade Insurance?
Trades insurance is a specialised type of insurance designed to meet the unique needs of tradespeople such as builders, plumbers, electricians, and carpenters, among others. Trades cover aims to protect against the specific risks associated with manual work and trades businesses. Types of cover can include different levels of Public liability, tools and equipment insurance, accidental damage, personal accident insurance and Commercial Vehicle Insurance.
What Are The Key Risks For Tradies?
From putting up scaffolding to welding and bricklaying, there’s always a lot happening on a building site, no matter if it’s a tall structure or a residential dwelling and everything in between. Which is why it’s so important to have insurance.
The hazardous environment of most building sites is one of the biggest risks tradies face. Hot works, incomplete electrics and scaffolding are just some of the hazards tradies navigate every day. The need to use often-dangerous tools can also increase the chance of physical injury. This means the risk of injury can be much higher than for people working in places like an office.
If you employ contractors, there can be an additional risk they will become injured and they could make a claim against you. Theft of tools from building sites or vehicles is another significant problem for trades workers.
Who Should Consider Tradies Insurance?
Trades Insurance is a good idea for subcontractors and sole traders. If you are a subcontractor, you may be able to make a claim on the main contractor’s policy. But it can be dangerous to rely on these policies as you may not be covered and do not have any control over it.
Tool Insurance For Tradies
Your insurance can cover your tools while on-site or off-site. It’s important to understand insurance may not be site-specific. Tools can be stolen from the back of the truck or a shed in the backyard, for example, and the insurance may still provide protection.
Trades Insurance can also protect:
- Your income: if you are injured or sick and unable to work for an extended period. A lot of trade insurance policies have a personal accident and sickness option. If they do not, stand-alone policies are widely available. If tradies are injured and carry on a business through a corporate structure, they may be able to make a claim under workers’ compensation insurance.
- The motor vehicle you use in your business.
- Your exposure to claims against you for personal injury or property damage.
Liability Cover In Trades Insurance Policies
Most building contracts require tradies to have Public Liability Insurance if the value of the contract is above a certain figure. Even if the value of the contract is not above the figure, it can be prudent for tradies to have their own Public Liability insurance. This may protect against adverse events such as personal injury or property damage caused by faulty building works. Even something as simple as a trip or fall by someone over your power lead.
Why Choose AIB Insurance Brokers?
- Tailored Policies: We know that no two trades are the same. That’s why we offer customised insurance solutions to perfectly match your specific needs.
- Expert Support: Our team of insurance experts is always here to help. From choosing the right coverage to making a claim, we’re with you every step of the way.
- Competitive Pricing: Get the protection you need at prices that make sense for your business. We work to offer you the best coverage at the best rates.
- Fast and Efficient In-House Claims Service: We know that time is money. That’s why we pride ourselves on our efficient claims process, getting you back on your feet as quickly as possible.
Trades Insurance Case Study
Sam, a licensed electrician, was contracted to wire a new building. A month later, his faulty work caused a fire that led to substantial damage to the building. As he had Public Liability insurance in place, his liability for the cost of rectifying the damage caused by the fire was covered by the policy.
Get a Quote Today
Don’t let the unexpected derail your business. Get in touch with AIB Insurance Brokers today for a personalised Trades Insurance quote and enjoy the peace of mind that comes with knowing you’re protected. Protect your craft, your tools, and your future with AIB.
