The peace of mind insurance for tradies
Public Liability Insurance is one of the most important forms of insurance for tradies and is one of the most widely used forms of insurance in the industry. It protects tradies against property damage or personal injury that has occurred as a result of their actions at work. If you’re found financially liable for damages, you could find yourself in a situation where you’re required to pay huge amounts of money to cover any costs.
Even if you’re very careful, the unexpected can happen and Public Liability Insurance gives you peace of mind that you’ll be protected.
Are there any differences in Public Liability between the States?
Generally, there are few differences in Public Liability Insurance across the States and policies have very few differences. In some States, having liability insurance in place is compulsory and you won’t be able to able your licence without it. In other States, Public Liability Insurance isn’t compulsory but you may find things difficult without it. For example, many worksites require proof of liability insurance before you can enter and you may not be able to engage in any sub-contracting work without it.
Even if you find that you don’t have any obligation to have Public Liability Insurance in place, it’s a simple way to protect yourself while you’re on the job. The nature of working as a tradie means you tend to work in higher risk areas where things can easily go wrong. The cost of Public Liability Insurance depends on the amount you’re being insured for and the area you work in. For example, if you work in a higher risk area, your premiums may be higher. The minimum amount you can be insured for is $5 million.
Differences in Queensland and Victoria Public Liability Insurance for tradies
One difference in Public Liability Insurance across the States is if you work as a plumber in Victoria. For Victorian plumbers, you will also need plumber’s warranty cover included in your policy. Not all policies meet this requirement so make sure you double check with your insurance broker that this is included if you work in Victoria.
Another significant difference in Public Liability Insurance is for electricians in Queensland. For Queensland based electricians, they must have an extra $50,000 in cover known as consumer protection insurance. All policies which meet the criteria for eligibility for an electrical licence in Queensland must include consumer protection insurance so double check that this is included in your policy if you’re going to be working in that State.
Public Liability Insurance is a great starting point for your tradie insurance package and there are many other forms of insurance that may be relevant for you, including Tool Insurance and Personal Accident and Illness Insurance. Give your insurance broker a call so you can have a chat about what other forms of insurance would suit your individual circumstances.