Carpenters Public Liability Insurance
Business Insurance for Carpenters*
Whether you are a self-employed carpenter , or operate a small carpentry business, the nature of your work activities presents several risks, and if things go wrong, you may be liable for any damages caused by your carpentry business activities.
For example, you may hurt yourself, someone else or damage some else’s property .
Even when you take care, accidents can happen—sometimes through no fault of your own.
Fortunately, wherever you are in Australia , suitable insurance, including public liability for carpenters may provide protection and save self-employed carpenters from much of the financial hardship.
What Insurance Do I Need as a Carpenter?*
Some of the major types of business insurance covers available to carpenters in Australia are explained below and include :
- Public Liability Insurance
- Business Insurance Pack
- Personal Accident Insurance
- General Property and Tools
- Commercial Motor insurance
- Plant and Equipment Insurance
Why do carpenters need public liability insurance?*
Public Liability Insurance coverage is essential for all self-employed carpenters.
Carpenters need public liability insurance as carpentry involves working with volatile materials and hazardous chemicals that increase the probability of an accident on site.
People and property on site may be hurt or damaged due to accidents involving carpentry work.
The constant presence of volatile materials such as wood, sawdust, paint, solvents, shavings, chips, adhesives, and other chemicals, means carpentry work is rated as a high-risk occupation.
Protections offered to self-employed carpenters by public liability insurance in Australia generally include :
- Injury to other persons due to your carpentry activities –Where a carpenters 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 carpentry activities –Where a carpenters business activity causes damages to a third- party’s property. For example, a carpenter may accidently cause damage in a client’s home while performing work.
- Harm to other persons or others persons property due to your carpentry business’s products –Where a carpentry business’s products and goods supplied causes harm to a third party -person or a third- party’s property. For example , products a carpenter has supplied, repaired, or manufactured cause harm, injure someone or cause property damage.
Public liability insurance coverage may protect carpenters from claims that arise when others allege, they are negligent.
A carpenter’s public liability policy may provide a defence against the ensuing lawsuit when needed and may pay the damages sought by the injured party.
Business insurance pack for carpenters*
Carpenters may be able to combine multiple covers in a single business insurance pack policy.
By ‘packaging’ your business insurance into a ‘business pack’ carpenters can potentially cover many of the risks their business faces in the one policy.
For example, if a carpenter 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 carpenters with a business insurance pack are Public Liability Insurance and Product Liability Insurance.
Optional inclusions for carpenters with a business insurance pack are General Property , Contents, Machinery, Plant and Stock , Glass, Money , Business Interruption and Marine Cover.
Personal Accident Insurance for self-employed carpenters*
As a self-employed carpenter your personal safety is your livelihood.
Personal accident insurance for carpenters 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 carpenter’s income, and a long period away can negatively affect their savings, family, and lifestyle.
Personal Accident Insurance may help self-employed carpenters pay for essential bills and other financial commitments if they have an accident.
General Property and Tools Insurance for carpenters*
As a carpenter, 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 carpenters*
Commercial motor insurance should be considered for carpenters that drive their vehicle from site to site. Light trucks , vans and Utes may be covered .
Plant & Equipment Insurance for carpentry businesses*
Plant & Equipment Insurance may provide cover for owners of small carpentry businesses that operate equipment such as Table Saws, Circular Saws , Mitre Saws, routers, saws , drills, sanders and nail guns and forklifts.
Cover may provide carpenters with protection for theft, damage, consequential loss , liability , road risk and machinery breakdown.
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What are the costs of Carpenter Public Liability Insurance?*
How much does public liability insurance cost for self-employed CARPENTERS ?*
Key factors in determining how much Public Liability insurance will cost a carpenter include:
- The nature and scope of the carpentry business. For example, the type of work performed by the carpenter.
- The carpentry business turnover and size. For example, is the carpenter a sole trader that does 100% of the work themselves, or do they employee a team of 6 subbies ?
- Amount of insurance cover the carpentry business needs. Liability starts with $5 million cover, $10 million is popular with many self-employed contractors , $20 million cover is needed for carpenters that work for large companies, on commercial sites or have a team of employees.
Public liability insurance cost for a self-employed carpenter with no previous claims, starts from around $850* or $80 per month for $5 million Public Liability Insurance.
*** Please note ***: While cheap Public Liability Insurance can seem attractive on the surface it is important to ensure the policy covers you for the full business activities you undertake, and that the insurance policy and company will respond as intended when there is a claim. Costs may differ greatly from the above based on the carpentry business size, clients, experience, and business activities. For many carpenters, that perform broader building work or that have employees, costs will be a lot higher.
Do I need business insurance to work as a self-employed carpenter in Australia?*
Self-employed carpenters, or carpentry small business owners, subcontracting for builders will typically be required by the builder to obtain their own public liability insurance to get on site. This is typical for contracting trades working for builders throughout Australia.
Many small business owners, and even retail clients, will also ask to see proof of a carpenter’s insurance cover, called a certificate of currency, prior to awarding them work and ask for an update each year.
As a self-employed carpenter, suitable business insurance may provide credibility and valuable protection against the cost of a claim too.
Key carpentry activities that may be able to be covered include:*
- Carpentry work on construction projects
- wooden flooring installation
- wooden formwork or framework erection
- joinery work on construction projects
- building and installing wooden roof trusses
- installing doors and windows
- Installing wooden panelling
- wooden roof truss installation
- wooden kitchen cabinet installation.
Why do carpenters need tools insurance?*
Carpenters need tool insurance as tools are the lifeblood of carpenters.
They help chippies just like you to complete work on time, and to deliver quality workmanship.
Carpenters have a large number of tools compared to many other trades. And good tools are expensive. If they break or are stolen, it can impact your ability to get the job done or cost you thousands to replace.
With tool insurance, you may not have to dig into your own savings or borrow money to get the tools replaced or repaired.
Different types of carpenters that may be able to be covered:*
- cabinet maker
- trim carpenter
- formwork carpenter
Why should carpenters use an insurance broker in Australia?*
If you are a carpenter deciding on whether to use an insurance broker for your business insurance, it is important to consider that brokers act in the interests of the self-employed carpenter .
Direct insurers and agents act for the insurer. This can be important; especially if you need to claim.
Brokers can help carpenters by sourcing competitive quotes on policy inception, negotiate with the insurance companies to prevent or limit increases on renewal, remarket your policy to other suitable insurance companies where appropriate, talk to underwriters about policy wordings, industry classifications and terms, talk to insurance assessors during the claims process and repairers where necessary.
How do I get a carpenters insurance quote?*
Simply TALK to a SMART Business Insurance broker on 1300 542 573 or contact us online for suitable and affordable public liability and business insurance quotes for your carpentry business.