Tradie Business

Insurance types tradies need to know

Tradies are the experts at what they do on-site. Whether it’s building a home from the ground up, re-wiring a complex or fixing a burst pipe – tradies can get the job done.

One area they may not be so strong in, however, is making sure they’re covered with the right insurance. Here’s a few big insurance policies tradies should be aware of when getting into the gig.

Public Liability*

A worksite can be as safe and secure as can be, yet things can still go wrong. From a loose wire to an incorrectly fastened tool – some accidents are waiting to happen.

SEE MORE: Tradie business solutions

For example†, a plumber forgot to take out the safety screws from a dryer when installing it. When the homeowner turned it on, it rocked loose and caused the dryer to fall over.

A Public Liability policy can help keep tradies covered from third-party claims of property damage or injury. That plumber ended up being covered to the tune of $7,498 to replace the dryer, washing machine and joinery.

Portable Equipment*

Tool theft remains a common problem that Aussie tradies face every day. Tools valued in the tens of thousands are regularly pinched from utes across the country. It’s a nightmare situation, but it can be even worse if tradies are left to foot the bill.

Portable Equipment cover can be included in your Business Insurance Pack to help keep your tools and stock protected when they are lost or damaged due to theft, fire or other covered events.

Personal Accident (PA) and Illness*

Injured during a footy game or banged your wrist at work? A PA policy will cover you either way!

This type of insurance can help tradies cover lost income should they not qualify for workers’ comp. Personal Accident insurance can cover up to 85 per cent of your salary for a set amount of time once signed off by a medical practitioner (subject to max limits and relevant waiting periods, depending on the policy you choose). It offers financial peace of mind when income is compromised due to an accident or illness.

Business covered

Tradies! Why wait for things to go pear-shaped? Bradley – a WA carpenter saved $400 on his Public Liability insurance with BizCover‡.

To compare quotes and get covered in minutes, check out here and see how much you can save on your business insurance.

*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the PDS or policy wording.
†The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Coverage for claims on the policy will be determined by the insurer, not BizCover.
‡Savings made in July 2023.This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.
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