Business Insurance for Tradies

Business insurance is vital for every Australian business, but for tradies having the right types of insurance is imperative. In some cases, worksites require proof of at least income protection insurance and public liability insurance before they will let a tradie onto the area.

Having the proper types of tradesman insurance will allow you to access worksites, and will often help you save some money. It is also a great investment, especially if something happens and you have to submit a claim.

Trade Insurance Packages

Many different types of tradie insurance that can be placed within a trades insurance package. Some tradies may only feel they need public liability insurance, while others will want insurance that covers all types of tradies tools.

Anyone who realises the importance of being able to earn a wage will want to have some income protection insurance, and of course, life insurance can be added to the package.

Having the appropriate type of insurance for tradies is vital for any tradesman who wants to ensure themselves and their families financial security is protected at all times.

Tradies Insurance Brokers

Insurance brokers can be found everywhere in Australia. However, when searching for tradie insurance look for a broker that specialises in insurance for tradies.

Different Types of Tradie Insurance

There are many different types of insurance available to tradies including:

• Income Protection – An insurance that replaces a percentage of your income if you cannot work due to accident or illness.
• Business Expenses – Pays a monthly amount to help cover day-to-day business expenses if you cannot work due to illness or injury.
• Life Insurance – This insurance will pay your next of kin or estate a lump sum if you are diagnosed with a terminal illness or upon your death. While the funds can be used for any purpose, they are often used to pay off debts and provide funds for living expenses while the family goes through the grieving process.
• TPD Insurance – TPD stands for Total & Permanent Disability, and this type of insurance coverage will pay you a lump sum if a doctor states that you will probably never work again due to illness or injury.
• Trauma Insurance – If you are diagnosed with a critical illness, trauma insurance will pay a lump sum. In most cases, critical illnesses are not fatal, but often cause a financial drain on you and your family.
• Public Liability Insurance – A must have for all tradies, public liability insurance will cover you if you damage someone’s property, or if someone suffers an injury or death due to your work.
• Tool Insurance – Many tradesmen tools are expensive and most tradies cannot work if their tools are damaged in an accident or lost due to theft. Tool insurance will pay for the replacement of your tools if they are damaged, stolen or lost.
• Vehicle Insurance – Most tradies drive themselves and their tools to work in a ute, truck or van. Vehicle insurance will ensure that if your vehicle is involved in an accident, it will be put back on the road as quickly as possible.

It should be noted that all vehicles should carry insurance, not just tradesmen work vehicles.

At Tradebusters Academy we help tradies succeed in business with tips, events and trusted service providers.

If you do need a good insurance broker for your trade business, why not contact one of the listed insurance brokers for tradies on this website. And also check out some of the special offers they have for you.