Trades/Mobile Business Insurance

Trades Insurance

Trades people have exposures to risks, particularly in the Public Liability area and General Property Risk (Tools of Trade) due to the nature of the occupation working on other people's sites.

However for the bigger companies, they may have a depot (whether leased or owned) storing Tools and Building materials, as well as a small administration office. These face the normal Business risks of Fire, Storm, Accidental Damage as well as Burglary, Money, Machinery Breakdown just like a static Business. As well, the vital Business Interruption cover

Then the other tool of trade is a Commercial Vehicle that with some insurers can be included into the same Insurance package.

Click here for more information about this cover.

Click here for examples of Insurers policy Wordings

Latest News

Illegal or unsuitable cladding now a big issue

Why we have laws, regulations and Australian standards? Because some people just do the wrong thing all for the sake of making money. The cladding issue is the subject of 4 Corners program on the ABC.

We are already seeing Insurance policies now placing exclusion endorsements into their policies excluding and claims relating to illegal cladding. We are seeing Governments demanding Audits of all existing buildings above a certain height. There are accusations of Builders taking other short cuts such as on Wiring, Pipes and sprinkler systems. 

The question is, who is to blame? Who will take responsibility?

read more

Small business in NSW

Right after the NSW Government have reimposed Fire Service Levies, they have at least made an effort for small business. The government has announced it will abolish stamp duty on a number of policies taken out by a small business. This is an important change.

What is a small business? In order to gain the exemptions, the business must be a small business for Capital Gains Tax Purposes for the income year in which the insurance is effected or renewed. A small business for CGT purposes is: “an individual, partnership, company or trust that is carrying on a business, and has an aggregated turnover of less than $2 million.”

read more