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8 months ago · by · 0 comments

Protecting Your Tools with General Property Cover

 

Protecting Your Tools with General Property Cover

A carpenter without tools is an office worker, a mechanic with tools is pushing it, a plumber without tools is up shit creek.

Most tradies cover their public liability insurance risk, a lot organise cover for their income in the event of injury, but too many overlook their tools. Sure, you can replace most for a few hundred dollars, but what if all of them were stolen or lost? What would you do if there was a fire on the site where you left your tools?

Is it worth insuring them or is the premium likely to be too high?

 

What is General Property Cover

Insurers offer Tools of Trade Insurance or what’s sometimes known as General Property Cover, for these events.

General Property cover is available for an extensive range of equipment including;

  • Tools of Trade
  • Light Machinery
  • Survey Equipment
  • Mobile Electronic
  • Mobile Medical Equipment
  • Photographic Equipment
  • Diagnostic and Measuring Equipment
  • Musical Instruments
  • Sports Equipment

 

General Property Cover is normally available for items you can carry or move away from your premise and items that are considered essential for your trade.

 

But it’s important to check that your policy will cover your risk, does it;

  • Cover for full theft in the open air?
  • Does it cover the full replacement value of your tools?
  • Accidental loss?
  • Accidental damage?
  • Loss in transit?
  • Overseas cover if you’re working away?
  • Does it have a suitable excess?
  • And at renewal does it include recent purchase and match the new values?

 

Let’s look at those risk in a little more detail

Cover for full theft in the open air* is if it’s stolen anywhere, this might mean on a worksite, off your trailer or at your home at night. Insurers will offer restricted versions of this cover, that may only cover them if you take them to your home or a lock premise at night.

 

Loss in transit is where it’s carried by a third party or may include theft from your ute on the way to or at a job or worksite.

 

Most general property policies will start with a $100 excess, but the higher the excess generally the lower the premium.

 

Insurers may offer general property cover as inclusion in a public liability policy, but often they won’t cover the full amount of you tools and maybe restricted to items where you can produce recent receipts.

 

Before buying a General Property Policy

Get multiple quotes – compare the market

Make a list and estimate the replacement value

Keep receipts in an electronic version for referring back to when necessary

Check the insurers’ exclusions to ensure your risks are covered

Consider the appropriate excess for your situation

Check the insurers claims rating

 

If you’re unsure, speak to a broker, who can more carefully consider your risk

 



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

 

 

 

 

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9 months ago · by · 0 comments

Heights, Still Tradies Biggest Threat

Working at Heights

Whether it’s a death, total and permanent disability, income protection, personal injury claim, worker to worker injury claim or third-party property claim, height is still a Tradies biggest threat.

Safety regulators Australia wide have warned and educated but tradies and workers are still being injured or killed and property is being damaged.

Not just in the construction

It’s not just in the construction industry, its cleaners, electrical workers, plumbing, gas fitting, glazing, tree felling, solar and insulation installation, pest control, handyman work, heating and cooling work and it most often on or in the roof.
Many claims are the result of working on roofs without effective control measure.

Before climbing

Before climbing on a roof;

  • Look at the age of the structure
  • Consider the condition of the structure
  • What type of material is it (Asbestos, fibro etc.)?
  • Where are the important services (power etc.)?
  • Consider environmental factors on the day (wind rain and electrical storms)
  • Angle and pitch of the roof.
  • The presence of moss, contamination and other external factors
  • Consider Ladder Safety procedures
  • Does it require perimeter guards or edge protection or harness protection?

Complacency at Heights

Complacency  is another threat to personnel working at heights, when workers are used to working at heights they often forget the basic, this can result in dropping of tools resulting in property damage or injury. When working at heights, it doesn’t hurt to ask “what if”

Get Appropriate Insurance Cover

Protect you and your workers income

Cover yourself as the self employed tradie with income protection insurance, cover your workers with your States appropriate workers compensation policy and insist that sub-contractors and workers have their income protection insurance.

Protect Property

Make sure you have public liability insurance cover, and that it does not exclude working at heights, and check the asbestos exclusions if the roof contains it.
Make sure your sub-contractors have their own cover and check with your broker to make sure that if they cause injury or property damage that your exposure will be covered.

 

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

 

 

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2 years ago · by · 0 comments

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

 

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2 years ago · by · 0 comments

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.

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3 years ago · by · 0 comments

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

 

 

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3 years ago · by · 0 comments

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

 

 

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3 years ago · by · 0 comments

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

 

 

 

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4 years ago · by · 0 comments

Check Your 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

 



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

 

Sub Contractors Insurance

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4 years ago · by · 0 comments

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

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4 years ago · by · 0 comments

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.

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