FAQs for tradesmen insurance

Subcontractors Insurance

Are subcontractors covered in my Public Liability Policy

Many hands make light work and often as tradies you need the support of a subcontractor, however, if there is an injury or property damage by that subcontractor is it likely to be covered under your public liability policy?

Are subcontractors covered in my Public Liability Policy?

According to Steve Sloan from Insure 247, tradies need to be aware where there is a possible risk to the business in the event that the subcontractor does damage while working for you, your insurer may cover any claims to a third party, however, most will exclude any injury to the subcontractor. They may also increase the excess on any claim, so he explains “It is important to understand and check the endorsements on your policy or if you are unsure get your Broker to check”

Here is an example of a public liability policy extension from a leading insurer looking at subcontractors

91T Subcontractors Extension

The cover provided by the Public and Products Liability cover section of your policy is varied by the following endorsement:

We will cover;

Any subcontractor(s) but only for their liability for personal injury or property damage that is directly caused by their performance of the work for you and only to the extent that we would cover you under this cover section for your liability to that subcontractor(s) had it made a claim against you in respect of the circumstances giving rise to their liability;

However this is on the basis that:
(i)        the work performed by the subcontractor(s) is part or all of the work that you
have a contract to perform for some other party; and
(ii)       our liability shall not exceed the lesser of the minimum amount of liability
insurance cover required by the contract to perform the work and the Limit of
Liability shown in the schedule; and
(iii)      for avoidance of doubt, it is further provided that where a subcontractor(s)
makes a claim under this clause, the Employer’s Liability Exclusion shall apply
so that we will not pay for that subcontractor(s) liability for personal injury
to any person in the service of either:
(1)    you; or
(2)    that subcontractor(s).

Steve Sloan urges Tradies to ask their Insurer “What would happen if?”

  • Check

    Extentions

     or Exclusions relating to Subcontractors

  • Check the excess on a claim when a Subcontractor is involved

  • Check that your subcontractor has his own cover

  • Check he has worker compensation or income protection insurance

If you’re still unsure contact our team on 1 300 046 787

 

 

Steve is a licensed insurance broker and marketer. He is an internet insurance pioneer in Australia.

 

Insurance for Aussie Tradies

Insure Tradies Team

 

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433. If you a make purchase from insuretradies Referal Partners Insure247 Pty Ltd will be paid a fee the amount of which will vary according to the term of service

 

Tradies Insurance

Does Public Liability Cover Faulty Workmanship?

Does Public Liability Cover Faulty Workmanship?

Public liability insurance protects you and your business against the financial risk of being found liable for negligence. This may be for property damage or personal injury to a third party. However if that loss is the result of faulty workmanship it may result in your claim being declined.

Insurers Wording

One insurers wording excludes claims “for the cost of performing, completing, correcting or improving any work undertaken by You.”

Some insurers do offer Faulty Workmanship Insurance, and others also will allow you to add as an extra to your business insurance or public liability policy.

Still unsure, speak to a specialist, get them to review your potential risks and possible mitigation.

Call our team on 1300 046 787

Steve Sloan

CEO Insure 247
steve-sloan-insure247

Steve is a licensed insurance broker and marketer. He is an internet insurance pioneer in Australia.

 

Insurance for Aussie Tradies

Insure Tradies Team

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433.

Trades Insurance

More Trades Offered Quotes By Insure Tradies

Insure Tradies can offer more trades quotes through Calibre Specialty Liability Insurance policies are issued by Calibre Commercial Insurance Pty Ltd .

Calibre Specialty Liability Insurance is very specialised and caters for the more complex or high exposure liability risks across a wide range of trades and occupations including Heavy engineering risks, Work away risks and Manufacturers of higher risk products.

Calibre Specialty Liability Insurance For Trades

  • Underwritten by Great Lakes Australia, S&P AA-*
  • Tailored endorsements
  • A dedicated and experienced underwriting team with over 31 years extensive underwriting authority
  • Phone surveys are conducted (if required) for risk acceptance, rating and formalising scope of cover. Please note that we are not performing liability audits or risk management functions in respect to our phone surveys.

Trades Covered

Air conditioning installers and/or servicing
Asphalting contractors
Bridge builders, repair and/or maintenance
Crane operators
Demolition (excl. Asbestos cover)
Earthmoving (incl. light, heavy and/or civil works)
Fertiliser manufacturing, importing and/or spreading
Fire protection equipment manufacturers, installers etc
Hazardous goods cartage and/or storage
Heavy engineering
Linesmen high voltage
Manufacturer and/or importer of complex products
Motor Vehicle critical parts manufacturing and/or importing/exporting
Non-destructive testing
Offshore platforms (contractors performing maintenance and/or repair on such)
Playground manufacturing, installation and/or maintenance
Petrochemical related risks (incl. cartage, depots, service station, refuelling of Watercraft and/or Watercraft bunkering)
Railway signaling contractors and/or railway contractors
Riggers
Road construction, repair and/or maintenance
Road traffic controllers
Scaffolders (no height restriction)
Smallgoods manufacturing
Training organisations (eg OH&S, welding, crane operations, working in confined spaces, first aid etc)
Tree loppers (incl. power- line clearing)
Tyre importers
Underground mine exposures (not operating or owning mines)
Waste removal or remediation of contaminated sites
Watercraft manufacture, repair and/or maintenance
Welding contractors

Calibre Specialty Liability Insurance policies are issued by Calibre Commercial Insurance Pty Ltd (ABN 86 603 039 023| AFSL 474540) (‘Calibre Insurance’)
acting under a binder as agent for the insurer Great Lakes Reinsurance (UK) SE (ARBN 127 740 532 | ABN 18 964 580 576, AFSL 318603) trading as Great
Lakes Australia (‘Great Lakes Australia’). Great Lakes Reinsurance (UK) SE is a limited liability company incorporated in England and Wales.

Click Here To Arrange A Quote For Your Trade

Insurance for Aussie Tradies

Insure Tradies Team

 

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433. If you a make purchase from insuretradies Referal Partners Insure247 Pty Ltd will be paid a fee the amount of which will vary according to the term of service

 

 

Liability Insurance

Liability Insurance for Tradies

 

You may think you’re well covered, but your business may be underinsured or even uninsured if something goes wrong. If so, recovery could be very difficult.

On a basic level, a liability refers to your responsibility to others. Liability insurance will protect you and your business against claims arising from injuries or damages to other people or property that result from some aspect of your business. Basically if someone makes a legal claim against you, you will be financially protected and the insurance will cover the associated costs rather than you having to find the cash to cover it yourself.

Types of liability insurance that you might consider as a business owner include public liability, product liability and professional indemnity insurance.

Public liability

Liability arises out of a duty of care to the public and this type of insurance is particularly relevant for businesses that have customers or clients visiting their premises, as the business has a responsibility for the safety of anyone on their premises.

Public liability insurance covers you in the case of death or personal injury to a third party, loss or damage to property, or financial loss if you or your business are found to be negligent.

If a claim is lodged against you or your business, public liability insurance will cover any costs and expenses associated with the claim, as well as any damages awarded to the third party.

 

Product liability

There is a level of safety that consumers are entitled to expect under Australia’s consumer laws and claims against products may arise when these standards are not met.

As a business, you are liable for any product you manufacture, distribute, supply or sell. This means that if for some reason the product is unsafe, harmful, defective or dangerous and causes injury, death or damage, you may be held liable.

Product liability insurance will provide you with cover if any of these things happen to another person or business as a result of your product’s failure.

Professional indemnity

As a professional, you are expected to meet high standards of skill in your area of expertise. If a client suffers a loss – whether it is financial, physical or material – as a result of your advice, or your failure to uphold professional standards, you may be at risk of a breach of duty.

Professional indemnity cover protects you against claims of negligence made by clients and can cover professionals across a range of industries. A professional indemnity policy will cover the costs and expenses of defending a legal claim as well as any damages that are awarded.

While traditionally, ‘professions’ were limited to a few well-known occupations, such as doctors, lawyers and financial advisers, the definition has now changed to include any person who offers service advice in a specialised field. For some professions, Professional Indemnity is mandatory, for others, optional. Click here for Professional Indemnity Insurance Quotes

Source: KnowRisk.com.au

Still not sure talk to the team 1300 046787

 

Click here to arrange insurance quotes for your business

 

Insurance for Aussie Tradies

Insure Tradies Team

 

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433. If you a make purchase from insuretradies Referal Partners Insure247 Pty Ltd will be paid a fee the amount of which will vary according to the term of service

 

 

Queensland Electricians Public Liability

 

If you’re an Electrician who has just moved to Sunny Queensland only to find your public liability insurance is more expensive, here’s why….

You must have an electrical contractor licence to provide electrical work for others as a sole trader, in partnership or corporation. Under Queensland law you are required to have insurance to apply for a licence.

Insurance requirements for an electrical contractor

Electrical contractors are required, under Section 51 of the ES Regulation to have a contract of insurance approved by the chief executive.

You must have a certificate of currency from your insurer that confirms you have a policy with broadform public and products liability with:

  • a limit of indemnity of at least $5,000,000
  • consumer protection insurance of at least $50,000.

This policy must cover all of the following:

  • liability arising from testing and certification of work in accordance with the ES Regulation
  • injury or damage arising from faulty design work performed by you including where you did not charge a specific fee for such design work
  • injury or damage arising from incorrect advice including where you did not charge a specific fee for such advice
  • goods in your care, custody or control.

For more details click here

Still not sure talk to the team 1300 046787

 

Click here to arrange insurance quotes for your business

 

Insurance for Aussie Tradies

Insure Tradies Team

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433. If you a make purchase from insuretradies Referal Partners Insure247 Pty Ltd will be paid a fee the amount of which will vary according to the term of service

 

 

 

Check Your Sub Contractors Insurance

Sub Contractors Insurance

If you use sub contractors a way to reduce your risk is to check they have their insurance cover, here is 5 things to check

  1. Do they have their own public liability insurance and is it current?
  2. Do they have their own income protection insurance or workers compensation cover ?
  3. What is your excess in the event of an insurance claim that involves a subbie?
  4. Does your insurer pay if a subbie is injured while working for you?
  5. Is your subbie qualified and licensed to do the work you need them for?

Still not sure talk to the team 1300 046787

 

Click here to arrange insurance quotes for your business

 

Insurance for Aussie Tradies

Insure Tradies Team

Carpenter Insurance

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433. If you a make purchase from insuretradies Referal Partners Insure247 Pty Ltd will be paid a fee the amount of which will vary according to the term of service

5 Things Carpenters Should Consider When Buying Insurance

Carpenters insurance

Carpenters have some specific insurance needs based on the risk associated with the construction industry, the following checklist will help you understand the risks.

1) Product Liability Product Recall

The use of lower-quality materials,  not following specifications or building codes and Defective work may result in substantial bodily injury or property damage claims. Make sure your policy has you covered.

2) Fire and Perils General Property

The materials used like wood, sawdust, chips, shavings, adhesives, paint, lacquers, solvents and stains etc, increases the fire load and fire risk exposure in the premises and at the contract site.  Tools are often stored on utes or left onsite overnight, are they covered? 

3) WorkCover or Workers’ Compensation

If you have employees you need to check the local workers compensation requirements for your state. In some states if you are self employed or a working director you may not qualify for workers compensation, you have to consider if you get sick or injured and can’t work for a period of time how would it  impact your financial situation, if you don’t qualify for cover maybe look at Income Protection Insurance.

4) Machinery Breakdown

Could you continue to work if your machinery was damaged, destroyed or broke down? Get our team to look at cover to get back on the job a quick as possible.

5) Public Liability

Onsite your exposure to the public may be limited, however work away from premises is a major risk. Third parties may be injured by work activities, machinery or falling materials.

Still not sure talk to the team 1300 046787

 

Click here to arrange insurance quotes for your business

 

Insurance for Aussie Tradies

Insure Tradies Team

Carpenter Insurance

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433. If you a make purchase from insuretradies Referal Partners Insure247 Pty Ltd will be paid a fee the amount of which will vary according to the term of service

Does my policy cover my sub-contractors

risk_mitigation

Does my policy cover my sub-contractors

Insurance is designed to protect the insured against loss, with business insurance that protection needs to extend to wherever your business operates.

One part of business insurance is Public liability, this cover will protect your business against third party property damage or personal injury claims.

What if you business uses subbies? will your policy cover their activities on your behalf or injury to them?

When placing your insurance the insurer will ask do you use sub-contractors and if so how much of your turnover is generated by those sub-contractors. They will also want to know if they have their own insurance in place.  Some insurers will offer coverage to your subbies but this may reflect in an increase premium or higher excess.

What if one of my sub-contractors get’s injured? Most policies will exclude injuries to your sub-contractors and employees, your should investigate your workers compensation requirements for each state and also consider a risk mitigation strategy to further protect your business.

Risk mitigation

A good risk mitigation strategy for your business would be to insure that they have their own public liability policy and also have their own income protection insurance. This way if your sub-contractor damages your clients property you insurer can claim against their insurer and with income protection in place it reduces the risk of a loss from an injury to them.

If the activities of your sub-contractor does result in a claim, you should still speak with your broker and insurer  to keep them informed and to see where the likely liability will lie.

Still unsure, speak to a specialist, get them to review your potential risks and possible mitigation.

Steve Sloan
steve-sloan-insure247

Steve is a licensed insurance broker and marketer. He is an internet insurance pioneer in Australia.

 

Insurance for Aussie Tradies

Insure Tradies Team

Carpenter Insurance

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433. If you a make purchase from insuretradies Referal Partners Insure247 Pty Ltd will be paid a fee the amount of which will vary according to the term of service

perated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433.

Tradies Insurance

Make sure you have the right cover for your trade

Tradies Insurance

A 5 point check for your tradies insurance

Every trade have risks specific to that trade. As a Tradie it is important to understand and reduce those risks, this may be as easy as putting up warning signs and insuring that you have the correct insurance cover. This is especially relative when it comes to your public liability insurance.

But before placing that cover you must look to see if there are occupation exclusions and endorsements that may exclude your potential claims, for instance most lawn mowing & gardening policies will exclude tree lopping, for some concreter’s some insurers will exclude work on council footpath,  and window cleaning may have a height limit.

Some policy will extend cover to your sub-contractors, with others they will increase the excess with claims involving your sub-contractors others will specifically exclude your sub-contractors.

Some insurers will target occupations with reduced premiums and extra trade related included inclusions, like a motor trade extension for mechanics .

Some insurers base 50% of their insurance premium on the claims history of the occupation covered.  So that could mean that the more expensive premium doesn’t mean a better level of cover.

Insurers are changing the way they accept claims with many now offering Online lodgements, others simply require an email with the details of the claim

  1. Check trade related exclusions

  2. Check you sub-contractors inclusion/exclusions

  3. Compare insurers cover

  4. Check you current premium

  5. Know how to claim

 

If you are still unsure, speak to a specialist, get them to review your potential risks and possible mitigation.

Steve Sloan
steve-sloan-insure247

Steve is a licensed insurance broker and marketer. He is an internet insurance pioneer in Australia.

Insurance for Aussie Tradies

Insure Tradies Team

Carpenter Insurance

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433. If you a make purchase from insuretradies Referal Partners Insure247 Pty Ltd will be paid a fee the amount of which will vary according to the term of service

 

 

Income Protection Insurance for Tradesman

Can Tradies Get Income Protection Insurance?

Income Protection Insurance for Tradesman

Tradies need to protect their income as well as there tools, but many tradies are self-employed, If I’m self-employed can I get Income Protection Insurance?

If I’m self-employed can I get Income Protection Insurance?

Most insurers offer self-employed clients an income offering that would help if something happened to you and you were unable to work. When calculating your income protection needs you should consider the number of months you could survive without an income before selling off assets or making drastic lifestyle changes. If you are unsure speak with an adviser.

What if I have just started?

Some insurers will offer you a “newly self-employed clause” which means in the event of a claim they will aggregate your income and pro-rata that against your projected income and that will be the monthly benefit.

When starting you can choose an Agreed Value option where your monthly benefit is agreed with you at the time of application and is based on your income at that time. Or Indemnity Value where your monthly benefit is calculated at the time of your claim and is based on your income at that time.

How much cover can you get?

Income protection cover is normally 75% of gross distributable income from the business before tax.

Is proof of income required to claim?

Depending on the insurer and the length of time you have been self-employed most insurers will not ask for proof of income up to $3000 in monthly cover.

Are Income Protection Insurance premiums tax deductible?

As a self-employed person, your premiums will be tax deductible, and may also be covered in your superannuation, speak to an adviser that can look at the option that suits your needs.

If your business is dependent on your to operate you may also need to consider Business Interruption cover as well. This cover helps with keeping your business running without you

Need to talk to a licensed Life Insurance Adviser?

talktotheteam

Source Quotesonline.com.au

Insurance for Aussie Tradies

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

insuretradies.com.au operated by Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433.