How to Review Your Tradie Insurance

Tradie Insurance

Whether you are a carpenter, gardener, plumber, or an electrician, having the right tradie insurance in place ensures peace of mind.

After all, risks are quite high working in these trades due to the use of power tools and other equipment.

Tradie public liability insurance can offer protection against the financial risk of being responsible to a third party for injury or damage, caused by your trade work activities. Other covers are also available to protect you against the loss of tools or even your income.

As insurance, can be as important as your tools and skills to protect your livelihood, make sure you properly review your cover at least annually.

Why review your tradie insurance?

Sometimes your work activities or your business tools and equipment can outgrow your existing insurance plan as your business expands. Changes can expose you to uninsured risks if you do not alter your cover.

Review your Coverage at least Annually:

That is why you should check your insurance policy when your business is changes or grows. Otherwise, it is smart to at least review your cover properly at the annual renewal.

Here is how to assess your tradie insurance policy.

Your insurance policy should grow with your business. Many small trade businesses alter, expand, or downsize their activities from time to time.

For example, you may initially take out cover as a sole trader, then you hire staff, subcontractors and purchase more tools. You need to make sure that your policy can cover the new situation.

If you employ staff, your risks are higher, which should prompt you to update your policy accordingly.

If you have purchased a vehicle for your business operations, you should consider commercial motor insurance.

Compare Excesses and Premium Costs:

The next step requires you to compare the excesses (also known as deductibles) and annual premium cost versus the previous year. Have you spotted any differences? Are you being quoted more for the same cover? Have your excesses changed?

Assess the Quality of Service:

If you have had a claim, consider your experience.

A low price and suitable cover are vital; however you also want good customer support when making a claim.

Think about how your claim was processed. If you have not had any claims during the policy, it can be challenging to determine the quality of your broker or insurer’s service.

Check online resources and ask your peers to determine if you should continue with the same broker and/or insurer.

Has Their Customer Support Been Good?

A good business insurance broker is ready to help you review cover and quotes and educate you on important insurance aspects. This can be useful.

Think about your relationship or the rapport you share with your broker. Do you feel comfortable with them? Do they explain coverage information in a way you understand?

Do they respond promptly? Above all, are they available when you need them?

Considering the relationship with your broker is an important part of reviewing your tradie insurance.

Over to You

We hope we helped with some useful tips on how to review your trade insurance policy.

What do you think? Let us know by commenting below!


*Important: Cover may be available subject to meeting insurers underwriting criteria. Some of the covers listed may or may not be available or may have limitations or exclusions. Cover inclusions vary significantly from insurer to insurer. DO NOT rely upon the above. Check your policy schedule carefully for inclusions and exclusions and limitations. Talk to a business insurance broker for more information.

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