Learn more about tailored protection for tradies from AMP.
If you are a plumber, a builder or anyone who is involved in any kind of trade, you are aware that every time you perform your job you need to protect yourself and others form certain risks. AMP offers Trade and Tradesman Insurance for workers in the trade industry.
As is usually the case, there are risks that seem non-existent until it is too late to realise that it already happened. These unlikely events could become unbearable and damaging without insurance. On the other hand, getting tradesman insurance protects you, your tools and the people working for you against unpredictable costs that may arise.
Are you looking to protect your income? Consider tradesman income protection cover.
Necessary factors when getting Tradesman Insurance
Getting tradesman insurance is a wise move. However, before enrolling in any policy there are certain factors in a policy that you need to look for to get the best out of your insurance policy.
Look for the benefits and limitations in the policy, such as:
- Public Liability Excesses
When shopping around for insurance, be sure to look out for policy excesses related to your trade. You may discover that increased excesses are related to some specific activities, such as spray painting.
- Statutory Exemption from Employers Liability
If you happen to be involved in or running a family business and working with close relatives or family members, you might be exempt from employer’s liability.
- Theft of tools
As a tradesman, you are aware that your tools can fall prey to thieves. Because of this, most insurance providers require special conditions to minimise the risk.
- Get quotes from different insurance carriers.
Shopping around for a policy that suits you could help you get the best deals. Try to look for different pricing options which have higher or lower tax deductibles, higher coverage limits and coverage enhancements.
- Evaluate insurance needs and premiums against changes.
Changes have great effect in your business whether big or small. Be sure to put these changes into consideration when applying for a policy.
AMP Trades and Tradesman Insurance
With the demands of your job, looking for the right insurance policy can be very stressful. What if you will be presented with a simple plan and everything is laid out in simple terms?
AMP Trades and Tradesman Insurance has a wide range of coverage which you can customise according to your needs. From theft to public liability to construction, there is something to match what you are looking for. Here is a closer look at those features:
- Fire and Other Damage Insurance. This provides cover for your building and other business assets for certain listed events such as fire, storm, lightning, explosion, and earthquake Although this does not include cover against flood, it makes up for the absence by including the cost of removing the debris.
- Accidental Damage Insurance. This gives you protection and coverage because of accidental loss or damage to the insured property at your insured premises.
- Public and Products Liability Insurance. Covers any kind of legal liability for personal injury or damage to property, including death, caused by an event which is connected with your business.
- General Property Insurance. This covers common office equipment such as laptops and mobile phones anywhere in Australia.
- Burglary Insurance. By having this cover, you have the protection against theft of stock, electronic equipment, and other business contents found within your building after forced and violent entry.
- Construction Insurance. This feature protects you from theft or damage to contract work you do. This also includes cover to any accidental damage during your maintenance work after a contract ended within a maximum period of 12 months (one year). Your tools and equipment can also get covered as well as the cost of demolition and debris removal.
- Goods in Transit Insurance. This insurance covers the goods in transit which are damaged or lost due to collision, derailment, explosion, overturning and other listed events.
- Business Interruption Insurance. Having Business Interruption Insurance covers your income loss due to the effect of an insured damage which occurs within an insured premise.
- Fraud and Dishonesty Insurance. Although every employer wishes their employees be loyal and dedicated, there are still cases where an employee can get involved in fraud. By having this insurance type, you are assured that whether fraud or dishonesty is committed by one of your employees, you are sufficiently covered.
- Glass Breakage Insurance. This covers the breakage of internal or external glass or plastic signs within your business premises.
- Money Insurance. This gives you protection against loss of your money which is in your office, your house or being transported.
- Equipment Breakdown Insurance. This pays you for any amount needed for the repair of electrical or mechanical equipment due to sudden or accidental breakdowns. Business Interruption may be included under this option if this is included in the overall cover of the policy.
- Tax Audit Insurance. If you have to pay professional fees in relation to your tax audits, then here’s the cover for you.
Being a tradesman, you are aware of the risks you are exposed to. By getting AMP Trades and Tradesman Insurance, you are lowering the risk and shielding yourself from other perilous occurrences that your trade entails.