Tradesure, one of Australia's leading insurers for Tradesman, experienced a record number of inquiries on Wednesday the 18th February, this week.
Kris Minns from Tradesure said, “We were flat out all day, our phones started ringing at 8am and didn’t stop till well after 5pm and our online quotes kept streaming in."
Ross Forbes, Director of Tradesure says, “There could be a few reasons why this was a record day, but in general we believe that it is because Tradies are seeing the value of being prepared with their insurance.’
It appears Tradies are learning the value of insurance and aren't leaving things to chance. Ross Forbes, Director of Tradesure, says, "We are pleased to see that the word is getting around about the value of insurance for Tradies.”
There is the obvious advantage in protecting things such as your tools from theft and your income from illness and injury, but Tradies should also consider the advantages of making sure their public liability is current.
Ross Forbes says, “Tradesman should consider that it’s not just about protecting your own build and tools but about having the right insurance in place to take advantage of the increased demand for Tradies to help rebuild devastated areas, such as those from cyclone Marica in Queensland.”
Ross explains, “I have been insuring Tradies all around Australia for over 30 years and have witnessed the positive and negative effects that natural disasters can have on the Industry. While the rain and winds might have an impact on their current work, after the lull, they will certainly need to be prepared for the increased demand for work in the cyclone affected areas.”
Ross advises, "Those Tradies that have their insurance sorted will be able to hit the ground running when it comes to assisting with the rebuilding efforts."
Some Tradesman will move onto other industries or work out on the mines to supplement their income during hard times, and then when the demand for work picks up, they want to jump back on the tools. Tradesure are one of the few advisers that have a ‘re-start service’ that allows Tradies in this type of situation to re-start their policy with a simple phone call instead of going through the whole quoting process again.
The cost of insurance is becoming less and less of a barrier for Tradies who want to be ready for natural disasters. “It appears many Tradesman and builders are a lot more aware that the cost of insurance, for some policies, is a lot lower than it has been in the past.”
Ross says, “Take tools insurance for example, it is now more affordable today than it was 7 years ago."
Tradies and Builders need to be prepared and aware of how insurance can impact on their business during a natural disaster.