A trade business can have several different insurance exposures, including liability, tools, vehicles, plant, employees, subcontractors and contractual requirements.

An insurance broker can help bring those requirements together rather than assessing each policy in isolation.

Understanding the business and its risks #

Insurers assess trade businesses according to the activities performed.

This can include factors such as:

• Your trade
• Residential, commercial or industrial work
• Maximum height or depth
• Work involving excavation
• Hot work
• Hazardous locations
• Subcontractors
• Design or advice
• Project values
• Geographic areas

Accurately describing these activities is important when arranging insurance.

Comparing insurers and policy terms #

Different insurers can have different appetites for particular trades and activities.

Using a broker allows the insurance program to be placed with one insurer or across several insurers where appropriate.

Price is only one consideration. A broker can also help compare areas such as:

• Limits
• Excesses
• Exclusions
• Subcontractor conditions
• Tool theft conditions
• Height or activity restrictions
• Contract requirements

Ongoing changes and claims assistance #

Insurance should also be reviewed when the business changes.

Examples can include:

• Taking on employees
• Using subcontractors
• Buying plant or vehicles
• Moving into different types of work
• Increasing project sizes
• Working interstate

If a claim occurs, Webber Insurance can assist with notifying the insurer, providing relevant information and communicating with the insurer during the claims process.

Contact our team if you would like to review the insurance arrangements for your trade business.