General Property Insurance for Tradies: Protect Your Tools of Trade
As a tradie, your tools of trade are your lifeline. They’re the tools you rely on every day to get the job done. Whether you’re a carpenter, electrician, plumber, or any other type of tradie, you need to protect your tools of trade with general property insurance.
What is Tradie Tool Insurance?
Tradie tool insurance is a type of general property insurance that covers your tools of trade against loss, theft, or damage. With tradie tool insurance, you can have peace of mind knowing that your tools of trade are protected, and you can get back to work quickly if something goes wrong.
Why Do You Need Insurance for Tools of Trade?
As a tradie, your tools are your livelihood, and you need to make sure that they are protected. Trade tool insurance can provide the coverage you need to protect your tools against loss, theft, or damage. This coverage can help you quickly replace your tools if something happens, so you can get back to work and continue earning a living.
In addition to protecting your tools, insurance for tools of trade can also protect you against liability claims. For example, if one of your tools were to injure someone, you could be held liable for their injuries. Tradie tool insurance can provide coverage for these types of liability claims, helping to protect you and your business.
What Does Trade Tool Insurance Cover?
General property insurance and tools of trade insurance provide coverage for loss or damage to tools, equipment, and property used by tradies in their business. Some common claims for general property insurance and tools of trade insurance for tradies in Australia include:
- Theft or damage to tools and equipment while on-site or in transit.
- Accidental damage to tools and equipment caused by a fall or impact.
- Loss or damage to mobile phones, laptops, and other electronic devices used for work.
- Damage to a tradie’s vehicle used for business purposes, including tools and equipment stored in the vehicle.
- Loss of income due to business interruption caused by covered events, such as fire or storm damage to the workplace.
- Liability claims for personal injury or property damage caused by the business operations.
- Replacement or repair costs for damaged or stolen stock, such as building materials or inventory.
Again, the specific coverage and claims process for general property insurance and tools of trade insurance can vary depending on the insurance provider and policy. It’s recommended to read the policy carefully and consult with an insurance professional to understand the coverage and claims process.
In addition to providing coverage for your tools and equipment, tradie tool insurance can also provide coverage for your toolboxes and storage units. This coverage can help you quickly replace your tools and storage units if they are damaged or stolen.
Choosing the Right Tool Insurance Policy
When choosing insurance for tools of trade, it’s important to consider your specific needs. Do you need coverage for your tools of trade only, or do you also need public liability coverage? How much coverage do you need? Be sure to read the policy carefully and ask any questions you have before deciding.
Get a Quote for Tradie Tool Insurance Today
At Tradies365, we make it easy to get the tradie tool insurance coverage you need. Our online application process is quick and easy. We offer affordable rates and flexible payment options, so you can get the coverage you need at a price that fits your budget.
Protecting your tools of trade is essential for any tradie, and trade tool insurance / general property insurance can help you do just that. Get a quote for tradie tool insurance today and have peace of mind knowing that your tools of trade are protected.
WHY IT IS NECESSARY
While you may believe that you have all of the necessary insurance coverage a tradie needs, you may still find yourself lacking if you do not have general property insurance. Known by most tradespeople as “tool insurance,” general property insurance is crucial if you are a tradie with a great many tools of your trade to protect. It is an unfortunate misconception that public liability insurance will cover the loss of or damage to your professional equipment. Your public liability policy provides cover for loss or damage to other’s property and not yours.
DO I HAVE ENOUGH?
As with other types of insurance needed by tradies, general property insurance policies can vary significantly. We recommend that you are sure your gear has an adequate cover by occasionally checking the replacement cost of items you use regularly. Using this information, we make sure that your policy will meet your needs and not leave you in the lurch. We work with a great many tradies who believed their cover was satisfactory until they checked the replacement costs of some big-ticket items and specialized pieces of equipment.
COVERAGE
It is important to remember that general property insurance typically only covers equipment considered portable. Tools and machinery permanently located in your place of business will be covered under the policy written for your business contents.
General property insurance covers a range of occurrences. These include (but are not limited to):
- Theft of items after a forced entry
- Damage to equipment by a storm or fire
- Equipment damage caused by a vehicle collision
You can request we write in extensions for your policy; depending on your specific trade, these may or may not be necessary for you. While we want you to have all of the coverage you need to keep your business safe, some coverage is not a necessity.
- Flood damage
- Open- air theft ( a robbery with no sign of forced entry)
- Accidental damages
Having a solid general property insurance policy gives many tradies a great deal of peace of mind. We can assist you with the details and specifics so that your insurance plan has the cover you need. Feel free to call and set up an appointment to review your present coverage. We believe that it is always better to be safe than sorry.
Other Services
When running a business or as a subcontractor, you may be liable for damages or injuries to another person or property. Remember there is always the likelihood of being sued for negligence and that could be costly.
Workers’ compensation premiums can be one of the largest components of a tradie’s total insurance costs. There are also substantial penalties if employers fail to comply with legislated regulations.
As a tradie, you are exposed to a number of risks that are unique to the industry. This exposure may be caused not only by your own actions, but also by other parties.
Workers’ compensation premiums can be one of the largest components of a tradie’s total insurance costs. There are also substantial penalties if employers fail to comply with legislated regulations.
Getting the job done often requires the use of a car, truck or trailer – and sometimes more. So when you have multiple employees who are using these vehicles over a range of locations, the risk of damage increases.