MAKING NEWS

Fri, 05 June 2009
Insurance for the Tradesman
Tradesman's Insurance Description

Tradesmen are exposed to 2 areas.

1. Public & Products Liability Insurance

2. Loss of tools whilst the vehicle is parked or in transit.

Insurers recognise this and there are Tradesman's Insurance packages that we can put together to cover this problem. Several companies do Tradesman’s Public & Products Liability Insurance. Finding the right price for the trade is our problem, but this is what we are good at and what you are paying us for.

Your Tools of Trade - We can organise cover whilst the vehicle is in transit, or parked in the street, should it be broken into, or worst still, stolen. We can also cover the tools that you leave at home in the garage, and even the truck too, if you wish.

Pitfalls of Tradesman's Insurance Policies

Liability Insurance always has the problem of disclosure ... telling the insurer exactly what you do. If that is covered, it is smooth sailing, and as your broker we lodge any claims, which enables you to carry on with your business.

Tools of trade must be nominated items with individual values, commonly limited to about $500 per item unless specified. Most policies have a NIL excess and new-for-old up to 5 years. Extending this to cover tools at home is easy. The same conditions apply to tools in transit. All vehicles or garages must be locked when not attended.





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