Cabinet Makers Insurance

What Insurance Do I Need as a Cabinet maker?*

Some of the major types of business insurance covers available to cabinet makers in Australia are explained below and include:

• Public Liability Insurance
• Business Insurance Pack
• Professional Indemnity Insurance
• Cyber Insurance
• Personal Accident Insurance
• General Property and Tools
• Commercial Motor insurance
• Plant and Equipment Insurance

Why do cabinet makers need public liability insurance?*

Public Liability Insurance coverage is essential for all self-employed cabinet makers.

Cabinet makers need public liability insurance as cabinet making involves working with volatile materials that increase the probability of an accident on site.

People and property on site may be hurt or damaged due to accidents involving cabinet making work.

The constant presence of volatile materials such as wood, sawdust, paint, solvents, shavings, chips, adhesives, and other chemicals, means cabinet making work is rated as a high-risk occupation.

Protections offered to self-employed cabinet makers by public liability insurance in Australia generally include:

• Injury to other persons due to your cabinet making activities –Where a cabinet making business activity causes harm to a third-party person. For example, a client ignores your warnings to stay away from the site and injure themselves when they trip and fall on your equipment.
• Damage to others property due to your cabinet making activities – Where a cabinet making business activity causes damages to a third- party’s property. For example, a cabinet maker may accidently cause damage in a client’s home, a client’s store, or to a neighbouring store, while performing work.
• Harm to other persons or other persons property due to your cabinet making business’s products – Where a cabinet making business’s products and goods supplied causes harm to a third party -person or a third- party’s property. For example, products a cabinet maker has supplied, repaired, or manufactured cause harm, injure someone or cause property damage.

Public liability insurance coverage may protect cabinet makers from claims that arise when others allege they are negligent.

A cabinet maker’s public liability policy may provide a defence against the ensuing lawsuit when needed and may pay the damages sought by the injured party.

Public Liability Insurance may provide cabinet makers with protection for slip-and-trip accidents, accidents that damage client and neighbouring property.

Business insurance pack for cabinet makers*

Cabinet makers may be able to combine multiple covers in a single business insurance pack policy.

By ‘packaging’ your business insurance into a ‘business pack’ cabinet makers can potentially cover many of the risks their business faces in the one policy.

For example, if a cabinet maker has a commercial premises, a business insurance pack may provide cover for buildings and contents if they are accidentally damaged by a defined event, such as fire, storm, impact damage, accidental damage, vandalism, or malicious damage.

Other typical inclusions for cabinet makers with a business insurance pack are Public Liability Insurance and Product Liability Insurance.

Optional inclusions for cabinet makers with a business insurance pack are General Property, Contents, Machinery, Plant and Stock, Glass, Money, Business Interruption and Marine Cover.

Professional Indemnity Insurance for cabinet makers *

Professional indemnity insurance should be considered for cabinet makers that prepare plans and drawings for clients.#

This is especially the case if you charge a separate fee for the plans and drawings.

If a cabinet maker makes an error, such as providing incorrect information, makes an omission in due diligence, or provides advice that leads to damages or losses for a client, a client may seek damages from the cabinet maker.

Professional Indemnity Insurance may help cabinet makers stay in business by paying for legal defence costs, and for damages if awarded against them.

For example,  a property developer client may claim damages for loss of income as a result of your advice or plans . Professional indemnity may help pay for your legal costs to defend yourself .

#If you are a self-employed cabinet maker and want to understand if professional indemnity insurance will provide suitable cover for your business activities, please call a Smart Business Insurance broker.

Professional Indemnity Insurance may provide protection for cabinet makers for errors or advice that cause a client to lose money, claims of negligence.

Cyber Insurance for cabinet makers *

Cyber insurance is strongly recommended for cabinet makers that hold valuable data, including customer data, digitally or take payment electronically.

Cyber insurance may help cabinet makers recover financially from data breaches and cyberattacks.

Cyber Insurance may provide protection for Data breach notification costs, Data breach investigations, PR costs for reputational harm.

Personal Accident Insurance for self-employed cabinet makers*

As a self-employed cabinet maker your personal safety is your livelihood.

Personal accident insurance for cabinet makers may provide cover for 52 or 104 weeks and up to 85%* of weekly income at the time of the injury; depending on the amount of coverage agreed when the policy is taken out.

Time away from work from an accident will have a direct impact on a self-employed cabinet maker’s income, and a long period away can negatively affect their savings, family, and lifestyle.

Personal Accident Insurance may help self-employed cabinet makers pay for essential bills and other financial commitments if they have an accident.

General Property and Tools Insurance for cabinet makers*

As a cabinet maker, you are likely to have many tools and equipment that allow you to do your job, such as routers, saws, drills, planers, sanders, and nail guns.

If your property is damaged or stolen, your business cannot operate effectively.

General property insurance can help you keep operating effectively.

It can provide needed funds to replace your tools such as routers, saws, drills, sanders, and nail guns….and help keep you in business.

Commercial motor insurance for self-employed cabinet makers*

Commercial motor insurance should be considered for cabinet makers that drive their vehicle from site to site. Light trucks, vans and Utes may be covered.

Plant & Equipment Insurance for cabinet making businesses*

Plant & Equipment Insurance may provide cover for owners of small cabinet making businesses that operate equipment such as Cabinet Jointers, Router Tables, Computers, Table Saws, Circular Saws, Mitre Saws, routers, saws, drills, sanders and nail guns, trailers and forklifts.

Cover may provide cabinet makers with protection for theft, damage, consequential loss, liability, road risk and machinery breakdown.