Expanding Upon The Opportunities That Are Available With Tradies Insurance

September 9, 2022

Close up photo of woman hand arranging wooden block stacking as step stair on a desk.

Tradies are business owners or contractors who offer professional services to the public. They include plumbers, electricians, bricklayers, and carpenters among others. These professionals are usually hired by builders as subcontractors to handle specific jobs in their areas of competence. For instance, electricians are normally hired to handle all electrical work. Carpenters are hired to install wooden doors, windows, shelves, cabinets, and drawers among other types of wooden furniture and fittings. Plumbers are usually hired to install water supply pipes, plumbing fixtures, and gas lines and connect buildings to the main sewer line or septic tank. As you can see, tradies are always in high demand. If you are a tradie, buying Smart tradies insurance can help you secure more jobs.

How Tradies Insurance Can Help You Secure More Jobs

There is a lot of competition in the industry because many tradies are competing for the same jobs, so having a valid insurance policy can give you a competitive advantage. Secondly, most contractors require tradies to have liability insurance. If you do not have a valid tradies insurance policy, therefore, your application will be overlooked.

Why Tradies Insurance is Important

1. It's a Legal Requirement

It is illegal to offer professional services to the public if you are not insured. This rule does not just apply to tradies, but also other professionals, including doctors, dentists, and psychiatrists among others. Therefore, every tradie needs to obtain a practicing license and a business permit from local authorities and purchase a suitable insurance policy.

2. Liability Coverage

Construction sites are dangerous work sites, so you need to buy a suitable insurance policy to protect yourself, your team, and third parties from liabilities. In case someone is injured at the work site, you will not be exposed to any liability. The insurance company will pay for all the resulting damages. Similarly, if you or your team cause damage to the structure of the building, the client's property, or assets belonging to a third party, the insurance company will pay the resulting damages. This also applies to damage to your property by third parties. After all, someone else at the work site may steal or damage your equipment.

3. Clients Only Hire Insured Tradies

We live in a litigation-happy society where anyone can get sued for anything at any time. Since nobody wants to be exposed to the financial liabilities associated with injury lawsuits, clients only work with insured contractors and subcontractors. If you do not have a tradies insurance policy, therefore, you may not be considered by clients. You may be the most qualified tradie, but the lack of insurance coverage will disqualify you. Therefore, the main reason why you should purchase a suitable tradies insurance policy is to secure more jobs. By spending time searching for the best insurance policy, you will be able to boost your chances of securing the best jobs.

Tips for Choosing Tradies Insurance

Tip 1: Work With an Independent Insurance Broker

This is perhaps the most important tip you can get. Many insurance brokerage firms exist in the industry, but they are not all the same. By comparing them based on a variety of factors, it will be possible for you to identify the right broker. The reputation, experience, licensing, and guarantees offered by a firm are key factors to consider before you choose an insurance broker. The ideal broker should also be independent. They should be able to scour the market and present you with the best tradies insurance policies. Be wary of insurance agents who work for a particular insurance company because they have a contractual agreement that requires them to direct all their customers to the insurance company. This means they do not have your best interests at heart.

Tip 2: Check Liabilities Covered

Tradies usually work in construction sites, homes, business premises, and commercial buildings. Therefore, they are exposed to a lot of risks. They can cause damage to client properties, injure third parties or sustain injuries while working. Their equipment can also get stolen or get damaged by third parties. By purchasing a tradies insurance policy that covers all these risks, you can have peace of mind. You must spend some time reading the inclusion clauses of an insurance policy to determine whether or not it can offer you the level of liability coverage you desire. If not, you should look for a different policy.

Tip 3: Go Through the Exclusion Clauses

This is where all the important details are usually hidden in an insurance policy. It's important to note that policy documents are usually drafted by lawyers who use a lot of legal jargon and hide a lot of things in plain sight. This means that if you are not careful, you may purchase a policy you think offers sufficient protection, but a close inspection may reveal otherwise. Ideally, you should never purchase insurance before you read both the inclusion and exclusion clauses. This will enable you to make an informed decision. Every liability that is not covered by the policy is listed under the exclusions.

Tip 4: Compare Liability Coverage Limit

No insurance policy offers unlimited liability protection; each has a cap for every liability covered. Before you pay for a policy you think offers sufficient coverage, make sure you read the exclusion clauses. This will enable you to make an informed decision. You don't want to get disappointed later on when you discover your policy does not cover a certain liability.

Tip 5: Premiums

Profitability in business is all about striking a balance between income and expenditures. As you grow your income, you must focus on minimizing expenses. By shopping around to compare the premiums charged by different insurance companies, you'll be able to identify the most affordable insurance policy for your tradie business. However, premiums should only be considered once other factors have been looked at.

Even with the perfect tradies insurance policy, you must still exercise caution and use all the necessary safety equipment. This will help to keep you safe at all times. When a liability arises, you can either contact your broker or insurance agent directly to file a claim. Most firms allow policyholders to file claims online nowadays. The claims process can also be initiated over the phone.


I believe in making the impossible possible because there’s no fun in giving up. Travel, design, fashion and current trends in the field of industrial construction are topics that I enjoy writing about.

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