Tradesmen have specific insurance needs. Because most do not have commercial premises that they operate from, they do not need the covers that such a risk would require. Trade people include Electricians, Plumbers, Carpenters, Plasterers, Painters, Bricklayers, Concreters, Cleaners, Garden Maintenance, Lawn Mowers and Cable Installers to name a few.
The types of Insurance covers that a Trades person usually requires are:
- Public Liability - Insures all amounts, which you become legally liable to pay as compensation for Personal Injury and/or Property Damage as a result of an incident in connection with your business.
- Product Liability - Insures all amounts, which you become legally liable to pay as compensation for Personal Injury and/or Property Damage as a result of an incident caused by your product. A loss suffered as a result of a faulty or inferior product that you manufactured or supplied would not be covered as bad workmanship is excluded.
- Tools of Trade - Insures your tools against any unexpected or unforeseen incident such as theft from a locked vehicle/locked premises or damage due to a collision or overturning of the vehicle carrying your tools. It is also possible to insure stock under this cover.
- Personal Accident and Illness - Insures your income should you become unable to work following an illness or an accident. Can also provide a lump sum on Death or loss of a limb.
- WorkCover - Provides an income should you become unable to work following an illness or an accident suffered at work. Legally compulsory if you are an incorporated company and you pay yourself (and any employee) a wage.
- Commercial Motor - Insures your vehicle against theft and accident. Also covers third party damage. This includes All Trucks, Tippers, Prime Movers, Pantechs and Tautliners.
- Unregistered Machinery - Insures your unregistered machines such as backhoes, excavators and dingo diggers for own damage as well as theft. Third party liability needs to be covered under a separate Liability policy.