Whether you are a carpenter, plumber, electrician or are self-employed in any other trade, it is vital to consider obtaining tradesman insurance. Unexpected events and accidents happen to all of us, so having insurance to back you up will not only protect you financially but will also maintain your peace of mind while at work. But what insurance is right for your business? In this guide, we talk about the most popular insurance types for tradespeople.
At All Trades Cover, we provide a high-quality trade insurance package that is designed for tradies. For cost-effective, comprehensive insurance get a quote from us today!
Public Liability Insurance
Regardless of your industry, you can often find yourself working in a hazardous environment. With public liability insurance designed to protect you financially when you are liable for costs related to injury to a third party or damages to third parties’ property caused by your activities while on the job, you can leave stress behind and focus on work. When an incident happens due to your business activities, you can be responsible for covering the cost of medical bills, rehabilitation, repairs to damaged property or equipment and various other expenses. Obtaining Public Liability insurance will help you avoid substantial financial loss as it can cover the financial payout when the claim is within your policy limits.
At All Trades Cover our quotes include:
- $5, $10 or $20 million liability cover
- Product liability cover
- Monthly payment options
- Complementary tax audit cover
- Free legal advice
Professional Indemnity Insurance
Do you give professional advice as a part of your services? If you do, then Professional Indemnity Insurance can protect you against claims from a third party in an instance where your advice leads to their financial loss due to your advice or negligence. Depending on your it covers the costs related to a claim and legal bills. If you do not usually give professional advice as a part of your job, then consider obtaining Errors and Omissions Insurance. It protects you when you advise your client in passing, and they take it on board as your professional advice, and it leads to an incident.
Personal Accident and Illness
If you are self-employed, a lot of the time, all responsibilities related to your business and clients fall on you. It also means that if you are unable to continue work due to an injury or illness, you might find yourself without a stable income. Personal Accident and Illness Insurance is designed to cover you in such cases as it can provide you with a portion of your regular income while you are recovering. Usually Personal Accident and Illness Cover will provide you with up to 85% of your income for a defined period outlined in the policy.
While this cover provides you with a regular benefit while you can’t continue to work, it also has other advantages:
- You don’t need to answer any medical questions or get any medical tests done when you apply
- If you find yourself in a situation where you don’t qualify for a traditional income protection policy, you can still obtain this cover
- Comparing to Income Protection Cover premiums can be more affordable with Personal Incident and Illness insurance
Property and Tools Cover
As a self-employed tradie, you are responsible for the maintenance and protection of your tools. Therefore, it is a great idea to obtain property and tools cover to avoid financial loss due to damage or loss of your equipment. In some cases, you might become a victim of tool theft which can be frustrating and cause unnecessary stress and interruption to your business activities. Unfortunately, tool theft is quite common in Australia, so having a cover that will help you replace your equipment and resume work as soon as possible is a great way to protect your business.
Property and Tools Insurance with All Trades Cover offers financial protection, security and peace of mind. depending on your benefit, it covers the following:
- Accidental damage in case of sudden and unforeseen circumstances due to fire, theft, malicious damage, water, mechanical, hydraulic, electrical or electronic breakdown, failure, malfunction or derangement of any machine or electrical or electronic device, moths, termites or other insects, vermin, rust or oxidation, mildew, mould, contamination or pollution, wet or dry rot and corrosion
- Wear and tear
- Theft or attempted theft
- Fire and lightning strike
- Flood
- Malicious damage by a third party
All Trades Cover is one of Australia’s fastest-growing trade insurance providers. You can speak to one of our insurance brokers on 1300 826 850 or if you are ready to secure yourself with insurance now, simply fill out a form using our online quoting system and get a fast quote now!
