Tradies Insurance Options

If you are a tradie, making sure you have the right insurance is important. Without it, you could be risking your business, your finances or your personal wellbeing. But insurance for tradies doesn’t have to be complicated or difficult to understand. If you are starting out as a tradie, here are the main  tradies insurance options open to you:


Public Liability Insurance

  • Public Liability Insurance is suitable for all tradesmen. It is one of the most important tradies insurance options to have and is mandatory in most states
  • Public Liability Insurance protects you in the event that you injure someone or damage any property through your work, or if someone else suffers an accident on your work site (even if it is after hours).
  • Without Public Liability Insurance, you may have to pay any compensation out of your own pocket. This puts your assets at great risk, meaning that you could lose your savings, your car or your house and possibly become bankrupt.
  • You can choose from different Public Liability Insurance packages. Some of these might cover you for a particular project, while others will protect you and all your assets.

Home Warranty Insurance

Legislation states that Home Warranty is a compulsory insurance for tradies. This is an important insurance because serious fines apply if you fail to take it up (or take it up incorrectly).

  • Home Warranty insurance is a type of insurance for tradies that protects your client – usually the property owner – if you produce any defective building or renovation work.
  • As a tradie, you must take our Home Warranty insurance for any project you take on that is over $20,000 (in NSW); you must have this insurance before you request a deposit from your client.
  • If you die, become insolvent or ‘disappear,’ the home owner can use the insurance to repair the defective or incomplete work; they can make this claim up to 6 years in New South Wales and Victoria and 7 years in WA (for structural defects) or 2 years (for non-structural defects) after the project has been completed

Tools of Trade Insurance

Tools of Trade insurance is a type of tradies insurance that covers your tools. Without the right tools, you won’t be able to perform your job, finish your projects or earn an income.

  • Tools of Trade insurance is considered a necessary insurance for tradies; without it, you will have to use your own money to replace any lost or damaged tools or equipment
  • If you decide to purchase Tools of Trade insurance, you must also take out Public Liability insurance (these 2 insurances are bundled together)
  • It will only cost you about $195.00 to cover $3,000 worth of tools and equipment
  • You can choose if you want to cover your tools for every kind of risk, including theft and damage, or if you only want cover for certain circumstances

Personal Accident & Sickness Insurance

Working as a tradie often means risking your safety and health. If you are injured or become sick and can’t work, how will you pay your bills and look after your family?

  • Although it is not compulsory, Personal Accident and Sickness insurance is a good tradies insurance to have. It will cover up to 85% of your income and you can choose from either one or two years’ benefit periods.
  • In most cases personal accident and sickness insurance is fully tax deductible, meaning that you can claim your premiums/payments back from the government at tax time
  • Personal Accident and Sickness insurance policies differ greatly, so make sure you talk to your provider about what you wish to be covered for. You can choose to cover yourself for on-the-job injuries only, all injuries and illnesses no matter when they occur

Trades Ensurance offers instant, online quotes for all of the above products. Apply Online and start protecting your business today.  



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