Tradesmen Business Insurance

Plumbers need cover Specific to Victorian Legislation

Thu, 01 Dec 2011 03:06:00 GMT

Electricians who visit Queensland for jobs know that they must comply with Public Liability Insurance requirements specific to that state, and for plumbers travelling in and out of Victoria for work, it’s the same deal.

As more and more tradesmen travel to earn an income, there is one thing for certain Public Liability Insurance is fast becoming a universal requirement on job sites, however it is important to know that different Australian states can have different Public Liability Insurance requirements.

For instance, plumbers need to be aware that Victoria has different Public Liability Insurance requirements than any other state.

Failure to comply with Victorian Public Liability Insurance legislation could mean plumbers are at risk of financial claims against them for work they may have done while working in that state.

It doesn’t take long to implement the correct policy, unfortunately, many plumbers are unaware of the compliance requirements and rely on a Public Liability Insurance policy from their home state, which may not consider Victoria’s unique requirements.

To find out more, Plumbers need to talk to insurance providers who specialise in insurance for tradesmen and subcontractors.

Electricians Public Liability Insurance cover is different in Queensland

Thu, 01 Dec 2011 02:58:00 GMT

Modern day worksites usually insist that tradesmen have public liability insurance. For most trades Public Liability is portable, that is, it travels easily from state to state, however this is not the case for electricians.

Queensland has special requirements for electricians and those who move from interstate or fly in fly out on a regular but not permanent basis for work, need to comply with the Queensland electrical authority’s Public Liability requirements.

Relying on an interstate Public Liability Insurance policy could mean that electricians are at risk of not being properly covered in the claim against them for injury and/or damage to property of others when working in Queensland.

If you are an electrician, the solution is to discuss your specific trade needs with an insurance provider that specialises in insurance for tradies and stubbies and who can give qualified information not just about Electricians Public Liability Insurance but Tools Insurance, Motor Vehicle Insurance and Illness & Injury Insurance as well as it applies to tradesmen and sub-contractors.

Public Liability & Professional Indemnity for Pool Inspectors

Thu, 01 Dec 2011 02:55:00 GMT

From the 4th of November, 2011 legislation was passed in Queensland for pool safety that requires home owners to have their pool and pool fence certified by a registered Pool Safety Inspector. Rather than being a deadline, it was only the beginning of a safety expectation that is continuing to roll out, across the state both for those who have not yet had their pool certified and for new pool installations.

For Pool Safety Inspectors in Queensland there will be no shortage of work which begs the question of whether pool safety inspectors need professional indemnity and professional liability.

Professional Indemnity Insurance provides the financial protection needed when defending a claim for negligence in advice given during the course of work, while Public Liability Insurance provides a financial safeguard if the pool safety inspector damages someone’s property or cause injury to someone, which can be as easy as someone tripping over your clip folder and hitting their head.
In a litigation-happy society, Pool Safety Inspectors are at risk of financial ruin and should consider both Professional Indemnity Insurance and Public Liability Insurance.

Pay Public Liability by the month no extra charge

Thu, 01 Dec 2011 02:50:00 GMT

It’s a tradies choice – do you pay for your annual public liability premium up front and in full or do you opt for monthly premium instalments?

When you consider that paying by the month doesn’t cost any more for the convenience and the cash flow benefit, tradies and stubbies would be crazy not to.

However, not all insurers offer a FREE pay by the month option. Some add a penalty so tradesmen end up paying more than the original premium over the course of the year. Tradesure, and insurer that specialises in insurance for tradies and subcontractors understand that sometimes work can be stop start, pay by the month at no extra cost is just part of the service.

Tradesure public liability insurance premiums are super-competitive and offer better value than most policies offered by other insurers, even when the up-front administration fee is added to the policy cost. For tradies who find themselves in and out of work, Tradesure's stop start attitude to public liability offers greater flexibility.

While Tradesure recommends a continuous public liability insurance policy, tradies with no work simply can’t afford the cost. However, Tradesure points out that it is important that tradies and stubbies know that each time they start a public liability policy, an administration fee is payable. However, even with this administration fee the premium cost is better than the premium offered by most other insurers and it’s a whole lot cheaper to pay the fee than to be stuck paying monthly premiums when you have no work.

For affordable and flexible, public liability insurance talk to Tradesure, the insurers who know what tradies and stubbies need.

These poor tradies lost their tools and lost their income – are you covered?

Thu, 01 Dec 2011 02:43:00 GMT

Last year, a 45 year old tradie had his work vehicle and tools stolen during a terrifying carjacking in Sydney’s inner west.

In April, two tradesmen’s utes and their cargo of tools were stolen from Rockhampton in separate incidents - one from Allenstown and the other Yeppoon.

In August, the Bald Rock Hotel in Lilyfield NSW was organising a ‘Help a Mate” fundraiser in aid of a tradie whose work truck with 20 years’ worth of tools was stolen from outside his home. The truck was insured but the tools in locked boxes in the back weren’t.

In September, a worker’s van containing $2500 worth of tools and equipment was stolen from Goodna in Brisbane, while in Toowoomba a tradie was robbed of his livelihood when thieves stole $20,000 worth of specialty floor sanding tools. In October, Brisbane carpenter was robbed of his work ute and tools.

Tool theft is common and for tradesmen who fall victim to it, without tools insurance the reality is expensive. Replacing what can be a lifetime of tools and loss of income, simply because you don’t have the tools to do the job, can create and enormous financial burden.

Tools insurance is cheap and a worthwhile investment in any tradies future. $15.38 per month is the entry level amount for $5000 worth of tools insurance. Can you afford not to be insured?

Injury & Illness Insurance pays when you can’t

Thu, 03 Nov 2011 00:22:00 GMT

Tradies often don’t think twice about insuring their ute and tools, thinking how would they earn a living without them, but don’t give a second thought to the consequences of falling sick or having a debilitating accident.

Tradesure’s Injury & Illness Insurance policy is a simple and affordable policy that provides tradies and subcontractors with income to pay the bills when they are unable to go out and earn it.

As the names suggests, this policy provides financial protection in the event of illness and accident causing injury. Being a 24/7 policy it covers more than just work place incidents. If you have a fall at home and break a leg, you’re covered. If you have a heart attack while you’re on holidays (heavens forbid!) you’re covered.

This standard and value for money insurance cover provides 5 years of financial benefits for accident claims and 2 years financial benefits for sickness claims that keep you from working. To make the premium even more affordable, consider how long you can survive on your savings before you need the financial benefits from the injury and illness insurance policy to kick in. For some tradies, they’ll need payment as soon as possible, whereas others may delay payment for one month, two or even three which will mean their premium will be lower.

Tools Insurance - The other income protection insurance

Tue, 11 Oct 2011 04:41:00 GMT

For tradies there are generally three things that prevent them from working – getting sick, an injury and not having tools to do the job!

At just $15.38 per month for $5000 Tools Insurance it’s a great investment in your future…a continuous work future that is. Tools cover including damage to your tools due to a collision or roll over of your vehicle.

Tools insurance for tradies also covers them for damage due to flood, fire, lightning or explosions as well as malicious damage or vandalism. Naturally, a tradies tools are covered for theft, but only if the thief forced entry to your vehicle or your premise to steal them.

Ultimately, it is up to you to secure your tools, so if your tools are knocked off because you’ve left them unattended on a job site, you might find your Tools insurer is not be obligated to pay. Note, when it comes to a the value of tools, tradies should always list individual tools that are valued over $2000 on their Tool insurance policy.

Failing to list valuable tools may mean the payout is capped at $2000 regardless of their replacement value.

Public Liability - Answers To Questions You Need To Ask

Mon, 12 Sep 2011 04:01:00 GMT

So what is Public Liability. Firstly and perhaps most importantly, it's not to be confused with WorkCover. While you'll need WorkCover (Workers Compensation) for employees as well, Public Liability is the insurance tradies and subcontractors need to protect themselves financially against claims for damage caused by the tradie to someone else or someone else's property. And, in this day and age, most tradesmen won&'t be allowed on a jobsite without it.

When it comes to organising Public Liability insurance for tradesmen there are a few questions you need answered. Including:

Q: Does your insurer specialise in insurance for tradies and subbies?

A: At Tradesure, we don’t do home and contents insurance we only insure tradesmen and contractors for Public Liability Insurance, along with Tools Insurance, Injury & Illness Insurance, Motor Vehicle & Trailer Insurance.

Q: Are there conditions surrounding some work locations and do you need to tell my insurer where you work?

A: Yes, tradies and subcontractors who work in what are considered hazardous locations need to tell their insurer. Hazardous locations for tradies, may include but are not limited to refineries, mines, airports and wharfs. If you don’t tell your insurer and you make a claim, your insurer may not be obligated to pay.

Q: How much Public Liability Insurance do you need for your work situation - $5Million, $10 Million or more?

A: While $5 million Public Liability Cover is the most common level of Public Liability insurance taken by tradies, depending on your work situation, the scale of the project you may be involved in and the level of risk for damage or injury to others in a litigious environment, will determine higher levels of cover. Ask your Tradesure advisor for guidance.

Q: What’s the cost, and can I pay by the month without extra fees?

A: Yes, well at least at Tradesure you can pay by the month without paying a penalty fee. Tradesure’s pay by the month allows you to spread the cost over a year, whereas other insurers may require annual up-front full payment from tradies.

To find out more please contact your Tradesure insurance advisor or arrange an online quote now.

Public Liability Insurance – Do you have enough?

Mon, 11 Jul 2011 02:11:00 GMT

Unfortunately, it’s often too late when a tradesman finds out that he needs public liability insurance, and just as bad when he realises that he doesn’t have enough cover for the claims against him. Public Liability Insurance is often considered essential for work places – in fact, some tradesmen and subcontractors won’t be admitted to a work site unless they can show a certificate of currency that indicates the value for their public liability insurance policy.

The fact is, accidents can and do happen on work sites every day.

Public Liability Insurance pays a financial benefit for claims made against a tradesman or subcontractor for damage to someone else or someone else’s property as a result of carrying out their work on a worksite.

Most tradies take out a Public Liability policy for $5 Million.

It sounds like a lot of money, but then we live in a society which is eager to sue. The truth is, if you cause a serious injury to someone or damage important equipment, $5 Million will be enough in some cases, but in others it may not be especially if you work around valuable equipment and in close proximity to a higher incidence of pedestrian traffic near where you are working. For tradesmen and subcontractors who work in these situations, it is worth considering a higher value professional liability policy value.

Certainly, there is a growing trend for tradies and subcontractors to increase their public liability insurance cover to $10 million and it is worth discussing this with your Tradesure insurance advisor to evaluate the risks and the need for a higher level of public liability insurance cover.
Finally, get your own cover.

Tradies and subcontractors cannot rely on the head-contractor’s public liability insurance policy. Even if the initial claim against you is paid on the head-contractors policy, the insurance company will soon discover the facts and they will take action to recover the money they’ve paid on your behalf. Tradesmen and sub-contractors need their own public liability insurance policy.

Quick Facts:
-Tradesure specialises in insurance for tradesmen and subcontractors including partnerships and sole operators large and small.
-Public Liability Insurance may be paid monthly at no extra cost.
-$5 Million Public Liability Insurance Policies begin at $41.74 per month.
-$10 Million Public Liability Insurance Policies are becoming more common, ask us for a quote.
-Conditions relating to ‘restricted work locations’ apply.
-Tradies and subcontractors cannot rely on the head-contractors public liability insurance policy – they must have their own policy.

Tradies! Are you willing to risk NOT having Illness & Injury Insurance?

Tue, 28 Jun 2011 02:57:00 GMT

Illness & Injury Insurance is the financial security you need to keep an income when you are unable to work due to either getting hurt or getting sick. Illness & Injury insurance is important for tradesmen and subcontractors, whether you are self-employed or employed by someone else, because it provides 24/7 financial protection against illness and injury.

What’s that? You’ve got WorkCover because you are an employed tradie.

WorkCover is the compulsory insurance that covers you for injuries received travelling to and from and when in the workplace. But what if you have an accident outside of work – what then?

You need both! Injury & Illness Insurance provides cover for all those times you’re not at work, like when you slip and fall badly when playing with the kids, and when you fall ill. As its name suggests, Injury & Illness Insurance covers serious illness including cancer and heart disease, which is not covered by WorkCover.

There are two types of Injury & Illness insurance policies that are ideal for tradesmen, subcontractors, sole traders, partnerships and trade related business owners large and small: Accident Only or Sickness & Accident.

Statistics indicate that approximately 70% of illness and accident insurance claims are the result of sickness. Based on these statistics, it is recommended that you take out a policy that covers you in times of Illness AND Injury.

Previously known as Income Protection, Illness &Injury Insurance pays a financial benefit that will allow you to pay your bills and meet your living requirements when you are unable to generate your own income through work.

Many tradesmen don’t realise just how long they are able to survive without income. Depending on the severity of the accidental injury or the how serious the sickness, they could easily be away from work for six months or more. Research reveals that many self-employed tradesmen particularly over the age of 45 years will be out of work due to sickness for around three months or longer at some time during their working life.

Tradesure offers Illness & Injury Insurance (formerly Income Protection Insurance) that provides 5 years of financial benefits if you have an accident and 2 years financial benefits should you become ill. Some conditions apply, so please discuss with your Tradesure insurance advisor and always read your Product Disclosure Statement.

Are you a Tradie who works on a ‘Restricted Location’?

Tue, 21 Jun 2011 02:46:00 GMT

If you are a tradie who works in the mines, on an airfield,a train line or in what insurance companies call ‘restricted locations’ it is important to discuss this with your Tradesure insurance advisor.

Insurance Companies can have an ‘exclusion clause’ in their public liability insurance policy which means that standard public liability conditions do not apply for some work locations. This is not to say that tradies and subcontractors working in what are considered hazardous locations can’t get public liability, they can, but the policy needs to include provision for what is a ‘restricted work location’.

The list below outlines all the locations that need to be disclosed to your insurer and included in your public liability policy. Failing to tell your insurer about your ‘restricted work location’ could mean that you are not covered in the event of making a claim on your public liability insurance.

If you are a tradesman who works in any of the following (a to j) restricted work locations, on requesting a quote for public liability insurance, please advise your Tradesure advisor:

Restricted locations arising directly or indirectly out of or in any way connected with Your Business carried out in any:

a. area where aircraft take off or land, including but not limited to airport tarmac, aerodrome, airstrip, or heliport;
b. aircraft hangar or any other area used for storing, sheltering, servicing, maintaining or parking aircraft or aircraft components;
c. ship handling or loading facility, including but not limited to dock, port or wharf;
d. underground mine;
e. railway or tramway track, rail bridge, culvert or crossing;
f. mills, steelworks or aluminium refinery;
g. facility for grain or coal handling;
h. power generating facility;
i. oil or petroleum refinery facility;
j. gas producing or bulk fuel storage facility.

Tools Insurance for Tradies

Wed, 15 Jun 2011 03:17:00 GMT

Tradesure’s Tools insurance for tradies and sub-contractors now includes Flood Cover.
If you were affected by the floods earlier this year, there’s every possibility that your work tools may have been damaged due to floods.

A tradesman’s work tools are valuable. They’re expensive to replace and the simple fact is tradies and subcontractors can’t earn a living without them.

Tradesure Tools Insurance starts at a low $15.38 per month for $5000 work tools insurance cover and from June 2011 all new policies taken out will also include cover for damage as a result of a flood.

Work tools insurance by Tradesure offers comprehensive cover. In addition to the new flood cover inclusion tradesman and sub-contractors’ work tools are also covered if they are damaged by fire, flood, lightning, explosion, malicious damage or vandalism, theft following a forcible and violent entry which causes visible damage to a locked vehicle or premises, theft of equipment.
Work tools insurance is an important consideration for all tradies and subies.

It’s easy for tradesmen to lose track of just how many tools they have, and just how valuable a tradesman’s tool box or trailer has become over the years.

Here’s an important tip for tradesmen:
Keep a list of your work tools and their value and for those items which cost over $2000 ensure they are noted on your Work Tools Insurance policy. Not only will your accountant love your organisation at tax time, but if you ever need to make a claim on a tool valued at over $2000 you’ll be paid according to its noted value, rather than having to accept a maximum standard payment of $2000 for what might be a much more valuable work tool to replace.

To find out more please contact your Tradesure insurance advisor.

Tradesmen need to confirm their ‘sum insured’

Mon, 06 Jun 2011 00:47:00 GMT

If you are a tradesman you need to confirm the ‘sum insured’ for your work vehicles because the cost of you work car insurance premium is based on it. No one wants to pay more than you need to, so it's important that your tradie's vehicle is not over insured. Conversely, some insurers of commercial vehicles will penalise you in the event of a claim if you have insured your vehicle for less than 80% of the vehicles value.

Accuracy is important so contact your Tradesure insurance specialist who can give you a guide as to the value of your work vehicle.

To get quotes for your tradesman’s car, work ute or commercial van insurance please give your Tradesure advisor a call.

Tradies - Are you driving your 2-tonne truck out of bounds?

Mon, 23 May 2011 03:25:00 GMT

Tradies who operate vehicles which are 2-tonne or more need to check with their work vehicles insurance policy to see if they are adhering to any conditions associated with a travel radius.

Some insurers of limit tradies vehicle and truck insurance to 250km from your base.

If you have an accident outside that radius, your excess can increase or you could even find yourself uninsured.

To get quotes for your tradesman’s car, work ute, truck or commercial van insurance please contact your Tradesure advisor.

Are You A Rating 1 Driver?

Mon, 16 May 2011 02:03:00 GMT

Did you know that if you are considered a Rating 1 Driver, you can apply for a tradesmans work vehicle policy that includes No Claim Bonus Protection or No Claim Bonus for Life.

This extra feature on your tradies work car insurance policy can save you an increase of up to $250 on your annual premium if you have to make an ‘at fault’ or non-recoverable claim. When you consider that it takes 2 years, without any claims to regain your no claim privileges, applying for this extra feature may be well worth it.

Find out whether you are eligible for this extra benefit on your tradesman work vehicle insurance policy please contact your insurer who specialises in tradesman insurance.

To get quotes for your tradesman’s car, work ute, work trailer or commercial van insurance please contact your Tradesure advisor.