Tradesman Insurance

Tradesman have unique exposures due to their mobility and activities. Commercial property owner insurance protects the building owner in the event of damage being suffered to their building. You can take out cover for a broad range of exposures depending upon the type of building and tenancy.

What can it cover?

Public and products liability is the major cover for tradesman. This can provide cover for onsite damage to third party persons or property through to damage arising from finished products or materials that have been used.

Theft of tools and stock particularly from vehicles is a common occurrence for tradesman making cover for tools an important part of a tradesman’s insurance program. It is important to give consideration to the replacement cost of your tools and stock items that you carry in your vehicles whilst also keeping proper records to substantiate the items in the event of a claim.

You should review your contracts and work procedures to check if you are responsible for materials on site or redoing your activities that are damaged through storm, fire or theft etc prior to receiving payment. Insurance solutions are available for these exposures.

Home warranty or builders indemnity insurance is a separate policy which is determined by State legislation and relates to consumer projects. Contract value thresholds are set by each State determining who needs this cover.

What usually isn’t covered?

If you are providing design or advice for a fee or system improvements then you need to consider Professional Indemnity cover as Liability policies generally exclude paid professional advice.

Workers compensation and accident/illness policies are also separate exposures which tradesman should consider.