Business Insurance For Tradesmen

If you are tradesman of any kind, it is important that you have the necessary business insurance cover to protect you and your business for various possibilities.

Who needs Tradesman business insurance?

Any type of Tradesman should have Insurance. It is important for both sole traders and businesses with employees. Public liability insurance is the backbone of the policy, and can be complemented by a range of other covers which can provide protection for other aspects of your trade.Cover tools, equipment, machinery, buildings and more

How does tradesman insurance work?

Public Liability: Public Liability Insurance covers your business against the financial risk of being found liable to a third party for death, injury or property damage. Melbourne Insurance Brokers can help you in sourcing this business insurance cover to protect you from unforeseen events.

Professional Indemnity: The coverage focuses on alleged failure to perform on the part of, financial loss caused by, an error or omission in the service or product sold by the policyholder. These are potential causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. A professional indemnity policy sometimes also provides for the defence costs, including when legal action turns out to be groundless. In this situation you could be faced with legal costs that could cripple your business, regardless of whether you feel the blame resides with your company or not. Professional Indemnity insurance can cover the cost of any ensuing compensation, the legal costs you might be faced with, and help to keep your business on its feet.

Products Liability Insurance: Products Liability Insurance covers damage or injury caused to another business or person by the failure of your product or the product you are selling. We can help you in sourcing this business insurance cover to protect you from unforeseen events.

Income Insurance: (also known as Business Income Insurance) covers the loss of income that a business suffers after a disaster while its facility/store/venue is being rebuilt. A property insurance policy only covers the physical damage to the business, while the additional coverage allotted by the business interruption policy covers the profits that would have been earned. This extra policy provision is applicable to all types of businesses, as it is designed to put a business in the same financial position it would have been in if no loss had occurred

How do I choose the right policy?

Contact Us