Business Insurance for Welders

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Business Insurance for Welders*

Welders need business insurance , including public liability insurance as welding involves hot works and sparks that increase the probability of an accident on site.

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

Fortunately, suitable business insurance for welders may provide protection against financial hardships that could arise from accidents, property damage, or legal claims caused by your welding business activities.

Welder business and public liability insurance may cover property damage, injuries to third parties that are caused by your welding equipment and work activities.

Many Business Owners are UNSURE if they are COVERED PROPERLY.
We help them find affordable and SUITABLE INSURANCE so they can run their business with CONFIDENCE.*

What Insurance Do I Need as a Welder?*

Some of the major types of business insurance covers available to a welder 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 welders need public liability insurance?*

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

Welders need public liability insurance as welding involves hot works and sparks that increase the probability of an accident on site.

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

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

  • Injury to other persons due to your welding activities –Where a welder’s business activity causes harm to a third-party person. For example, a client ignores your warnings to stay away from the site and get burnt by hot sparks or injure themselves when they trip and fall over debris, or your welding equipment .
  • Damage to others property due to your welding activities – Where a welder’s business activity causes damages to a third- party’s property. For example, a welder may accidently cause damage where a spark from a welding machine ignites a fire, damaging a client’s property.
  • Harm to other persons or other persons property due to your welding business’s products – Where a welding business’s products and goods supplied causes harm to a third party -person or a third- party’s property. For example, products a welder has supplied, repaired, or manufactured cause harm, injure someone or cause property damage.

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

A welder’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 welders*

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

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

For example, if a welder 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 welders with a business insurance pack are Public Liability Insurance and Product Liability Insurance.

Optional inclusions for welders 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 welders*

As a self-employed welder your personal safety is your livelihood.

Personal accident insurance for a welder 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 welder’s income, and a long period away can negatively affect their savings, family, and lifestyle.

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

General Property and Tools Insurance for welders*

As a welder, you are likely to have many tools and equipment that allow you to do your job, such as Welding guns,  TIG welders, MIG welders,  Flux Cored Arc welders, Stick welders, Welding helmets, Grinders and Spool guns.

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

General property insurance can help you keep operating effectively.

It may provide needed funds to replace your tools such as Welding guns,  TIG welders, MIG welders,  Flux Cored Arc welders, Stick welders, Welding helmets, Grinders and Spool guns. And can help keep you in business.

Commercial motor insurance for self-employed welders*

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

Plant & Equipment Insurance for welding businesses*

Plant & Equipment Insurance may provide cover for owners of small welding businesses that operate equipment such as Welding Machines , Welding Table and Carts , Safety Equipment , Welding guns,  TIG Welders, MIG Welders,  Flux Cored Arc Welders, Stick Welders, Welding Helmets, grinders, spool guns and forklifts.

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

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What are the costs of Welders Public Liability Insurance?*

How much does public liability insurance cost for self-employed WELDERS?*

Key factors in determining how much Public Liability insurance will cost a welder include:

  • The nature and scope of the weldesr business. For example, the type of work performed by the welder.
  • The welder business turnover and size. For example, is the welder a sole trader that does 100% of the work themselves, or do they employee a team of 6 subbies?
  • Amount of insurance cover the welder business needs. Liability starts with $5 million cover, $10 million is popular with many self-employed contractors, $20 million cover is needed for welders that work for large companies, on commercial sites or have a team of employees.

Public liability insurance cost for a self-employed welder with no previous claims, performing simple repair work ,  starts from around $1600* or $160 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 welders business size, clients, experience, and business activities. For many welders, that perform structural work or that have employees, costs will be a lot higher.

Do I need business insurance to work as a self-employed welder in Australia? *

Self-employed welders, or owners of welding businesses , 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 contractors working for builders throughout Australia.

Many small business owners, and even retail clients, will also ask to see proof of a welder’s insurance cover, called a certificate of currency, prior to awarding them work and ask for an update each year.

As a self-employed welder, suitable business insurance may provide credibility and valuable protection against the cost of a claim too.

Key welding activities that may be able to be covered include:*

  • Metal work
  • Metal fabrication
  • Welding
  • Rigging
  • Steel Fabrication
  • Steel Erection
  • Steel work
  • Sheet metal work
  • Stainless steel and aluminium welding
  • Folding, rolling, bending and powder coating metal
  • Domestic or commercial metal work
  • Aluminium, Stainless, Mild and Galvanised steel work
  • Laser cutting sheet metal

Why do welders need tools insurance?*

Welders need tool insurance as tools are the lifeblood of welders.

They help welders just like you to complete work on time, and to deliver quality workmanship.

Welders 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.

Without tool insurance, you may have to dig into your own savings or borrow money to get the tools replaced or repaired.

Different types of welders that may be able to be covered:*

  • Arc welders
  • Boilermakers
  • Hyperbaric welding
  • Sheet metal worker
  • Tool and die maker
  • Construction
  • Ironworker

Why should welders use an insurance broker in Australia?*

If you are a welder 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 welder.

Direct insurers and agents act for the insurer. This can be important; especially if you need to claim.

Brokers can help welders 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 welders 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 welding business.