Trades Insurance

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Trades Insurance

As a tradie, you know you need to insure your vehicle and tools. And you may need personal accident insurance to protect you and your employees, as well as public liability insurance. But is that everything? How can you know if you’ve got enough insurance? You don’t want to wait until a problem hits to find out you’re not adequately insured. You need to find a balance between having the right level of insurance that will protect your business without paying more than you should. A member of NZbrokers can help.

Trades insurance broker

As a tradie, it goes without saying that each member of your business is absolutely integral. You need each team member to be firing on all cylinders, every day, with access to the tools and vehicles they need.

But what happens if your ute gets stolen with all your tools onboard? Do you know how that would impact your business? Will you lose jobs because of the theft? Will you have enough cover for all of your tools? If there is a delay getting paid for the job will you be able to cover your debts?

To keep your business safe, you need to understand the risks you face and put the right insurance in place to protect yourself and your workers.

To get the right coverage, you need to talk to the experts in insurance.

NZbrokers is a network of independent brokers with extensive experience in trades insurance, and we have a broker close to you.

NZbrokers can help you:

find the best trades insurance cover for your business’s needs
review cover from the broadest range of insurers
understand premiums and risk management
manage insurance claims for a better outcome.

*Talk to one of our independent brokers today to find out more. Click here to find the broker closest to you

Getting the right trades insurance

Tradies tend to work in physically-demanding environments, often with dangerous tools and machines, sometimes in less-than-ideal conditions. All of this adds up to a lot of risk for tradies, from personal injury to property damage. And that’s before you consider the risk of having valuable tools, equipment, or vehicles damaged or stolen.

The cost of any of these incidents could be high enough to put a tradie out of business altogether, putting enormous pressure on families. Finding ways to manage these risks is important and putting adequate insurance in place is essential.

Insurance takes the pressure off, ensuring your business can stay afloat even if you can’t work due to injury or out-of-commission tools or equipment. But how do you know what insurance policies are available or which policies are right for your business and how can you make sure you’re fully covered without spending all of your income on insurance?

An experienced trades insurance broker can answer those questions for you. They’ve done the research and investigation so you don’t have to, and they can provide you with a range of options that suit your needs and budget.

Here are just four of the basic things to think about to make sure you get the right trades insurance for your business:

1	Read the fine print	Your broker will help you know what’s covered and what isn’t. If your business regularly does a certain type of work, check the fine print to make sure it’s covered by your policy.
2	Don’t skimp	Cheap insurance policies are often worth exactly what you pay for them. In some cases, a slightly higher premium may be worth it when you consider the alternative. Regardless of the policy, an insurance broker can usually get you a better price than you could secure on your own. Tool boxes look the same but it’s what’s inside that matters.
3	Consider a package	It can often be cheaper to package up your insurance rather than getting separate policies for vehicles, tools, public liability and other property, for example.
4	Stay up to date	Insurance isn’t a set-and-forget exercise. Let your broker know if any of your circumstances change. It could mean you can pay cheaper premiums or it may mean you need to add certain types of cover.

If you’re not sure, get someone who is

Choosing the right trades insurance for your needs depends on a broad variety of factors. Working with an experienced trades insurance broker like a NZbrokers member means you don’t have to spend time and resources investigating all the options and hoping you don’t miss something. Your broker will be able to find the right policy for you and you may even end up paying less than you think for your preferred policy.