Tradies: Do you have the right insurance?

Regardless of the trade you’re in, when you’re relying on yourself and your tools for your livelihood, you’ve got one thing in common with every other tradie; you need the right insurance cover.

Tradies’ insurance is specifically designed to protect you from the costs associated with the unique risks of being a tradesperson. Because you’re likely to be dealing with other people’s property on a daily basis, liability insurance is an important part of that cover. There are several kinds:

General liability cover

As the old saying goes, accidents happen, we’re all human, and even the best of us can make mistakes. And if those accidents or mistakes result in someone getting injured or damage to the property you’re working on, you could be faced with a very large bill. General liability cover means that if you’re found to be at fault for an insurable event, including defective workmanship, you won’t have to pay those costs out of your own pocket.

Statutory liability cover

New Zealand has a range of laws that tradies need to comply with. If you unintentionally breach one of those laws, you could be hit with extensive legal costs and fines. Statutory liability insurance can cover your defence costs, fines and penalties under most laws, and reparations awarded under the Health & Safety Act.

Employer’s liability cover

If you have employees, you may find yourself in the situation where one of them takes civil action against you regarding a workplace illness or injury they’ve suffered that isn’t covered by ACC. Employer’s liability cover can help you cover your defence costs.

As you can see, liability cover is really important for your business – but how much do you need? It can be a difficult thing to estimate, and it’s not something you want to leave to guesswork. If you under-insure, you could be left out of pocket at claim time, while over-insurance will cost you more than it should. That’s why talking to a qualified insurance broker is a great idea. They’ll help you find the right type and amount of liability cover for you and your business. Not only that, but if you ever need to make a claim, your broker will be there to help you get through the process as painlessly as possible.

 

If you’re keen to get an idea of the kind of Tradies’ Cover available to you, our online insurance calculator is a quick and easy way to check it out and find out how much it might cost you. All you need is to answer a few questions about your business, and you’ll have an answer in minutes. If you want to talk to a qualified Certus adviser, give us a call today for a free, no-obligation consultation.

Try our Tradies quote calculator here

Telephone: (09) 365 5901