MANAGING RISK

What does Tradies Insurance cover?

3 December 2018

If you’re working as a tradie – whether as a subcontractor or business owner – chances are you’ll need some form of Business Insurance. We get it. It feels like an extra thing you’ll need before going out on the job. However, it can cover you for when things don’t go according to plan.

So, where should you start? Understanding how each insurance works is a good first step. Here, we’ve compiled a list of different types of cover that might come in handy.

Get a Tradies Insurance quote online

Your public liability

Any experienced tradie will tell you that no matter how cautious you might be, accidents do happen. And public liability claims are some of the most common claims for tradespeople. Public Liability Insurance can cover you in the event that you’re found liable for personal injury to a third party or damage to someone’s property, and it can save you a headache if someone makes a claim against you or your business. It also may cover your own legal liability. For example, if the owner of the home you’re working at trips over your tools and gets injured, you might be covered if they make a claim.

Your tools and equipment

A tradie’s tools are precision pieces of equipment and no tradie worth their salt would front up to a job site empty handed. Empty handed is just what you’ll be if your toolkit goes missing or is damaged – and replacing them can really add up! You might want to consider cover for your portable and valuable items like mobile phones, laptop computers and tools of trade you usually carry around with you every day.

Your business-use vehicle

Tradies are constantly on the road travelling to each job; what would happen if your trusty ute, van or truck was damaged or stolen? Being off the road means being off the site, which can mean precious time and money lost. Commercial Vehicle Insurance can be essential to keeping your income safe and your clients happy. You can get insurance for most commercial vehicles like trucks, trailers and utes. Depending on what you need, GIO has options from basic cover for Legal Liability, to Fire, Theft and Legal Liability, and Comprehensive cover, which includes a hire car provisions to get you back on the road and back on site.

What are additional insurance types for tradies?

There are plenty of other insurance types that cater specifically for tradies’ needs, such as:

  • Tax probe
  • Property damage
  • Theft
  • Equipment breakdown
  • Fire and defined events
  • Management liability
  • Personal accident and illness.

See our GIO Tradies Insurance for more information.

Where should you start?

Public Liability Insurance can be mandatory for some tradies but it’s worth investigating your circumstances. You can check the different insurance requirements in each state as sometimes specific insurances are mandatory.

There are many things to consider before buying insurance: What are your needs as a self-contractor or business owner? What insurance cover(s) are a good fit? But before making any decisions, speak to an insurance expert or broker to see what levels of cover are right for you.

Did you know that GIO can help with a flexible range of insurance options designed to suit many different types of businesses? Get a GIO Tradies Insurance quote online today or give us a call on 13 10 10 (8am-7pm AEST/AEDT, Mon-Fri) to find out more.

 


Insurance issued by AAI Limited ABN 48 005 297 807 trading as GIO. Consider the Product Disclosure Statement before making a decision about this insurance. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.

Got a question?

Ask George, your GIO Virtual Assistant